Reconciling Bank Accounts

Sage 300 ERP

Reconciling Bank Accounts

Normally, you reconcile your bank accounts at the end of each fiscal period, when you receive the statements for the accounts.

Ask your bank to use your fiscal period end as the cut-off date for your bank statements, if possible.

Even if your bank does not send statements at the fiscal period end, perform the reconciliation as of the period end. You can reconcile accounts within a fiscal period as often as necessary (for example, if your bank sends you statements twice a month).

You can reconcile bank accounts manually, or you can use the Reconcile OFX Statements form to reconcile bank or credit card statements automatically.

Note: You must first download the statement from the financial institution's Web site.

For an overview on reconciling deposits, see Reconciling Deposits.

For an overview on reconciling withdrawals, see Reconciling Withdrawals.

Click the following links for step-by-step instructions on reconciliation tasks:

To reconcile a bank account

To clear a transaction

To clear an individual receipt within a deposit

To clear a range of transactions

To import OFX statements

To reconcile OFX statements

To post a bank reconciliation

To clear a bank error

To clear a deposit error

To reverse a transaction

Record Bank Entries during Bank Reconciliation