How to Reconcile Bank Accounts
Reconciling Bank Accounts
Reconciling (or balancing) your account is simple. It works similarly to balancing your checkbook.
Step 1
Select the Reconcile button at the bottom of the account register screen to begin.
Step 2
The Statement Opening balance will pre-fill based on your beginning balance transaction; if this is your first reconciliation, or the statement ending balance of your most recent reconciliation. Enter the Statement Ending Balance and Statement Ending Date as it appears on your current bank statement, and select Continue.
Step 3
Next, check off each transaction that appears on your bank statement.
When you've checked each transaction, the Cleared Balance should equal the Ending Balance from your statement, and the Difference should be zero.
If you realize a transaction is missing select the Return to Register button. ChurchTrac will take you back to the account register screen.
From there, go ahead and create the new transaction. When you are done select the the Reconcile button again, and you will be able to pick up where you left off in the reconcile process. The new transaction will now appear in the list of transactions.
When you select the Finished button, you will receive confirmation that your account has been successfully reconciled.
When you select the Return to Register button, you'll return to the account register screen.
Each reconciled transaction will now have an "R" next to it indicating that it has been reconciled.
Undo Reconcilation
Reconciled transactions can't be edited. You can only change their category or fund. If you need to make any additional changes to reconciled transactions, you will have to un-reconcile your previous transactions.
To undo a previous reconciliation, select the Reconcile button at the bottom of your account register.
Then select "click here" just above the Opening Statement Balance field.
You will then be presented with the option to revert your transactions that were previously reconciled back to unreconciled.
Once you have made the changes to your transaction, you can re-reconcile the batch.
Pro Tips
The Statement Opening Balance is the calculated total of transactions in that bank account that have already been reconciled. It cannot be manually edited. If it does not match your bank statement, then your should check to make sure you accounting has been set up properly. Click here to learn how to get started with accounting ›