Please enable JavaScript to view this site.

Phoenix - User Help

Navigation: Financial > Day to Day Tasks > Reconcile

Reconcile a Bank Account

Scroll Prev Top Next More

To Reconcile an account in Phoenix:

1.Click on the Fin_Recon_Button_v10 button on the Toolbar or the Tasks menu and select Reconcile.

Fin_recon

2.Choose the account to be reconciled from the Accounts List.  All the transactions for the month are displayed with a red cross indicating they have not been cleared. Transactions with a macthediconicon are for transactions that have been matched with a Bank Feed record.

3.Match each transaction in Phoenix to the statement received.  If the amount reconciles with the transaction on the Statement, double click or use the + (plus) key to mark the transaction as cleared (red cross changes to a green tick).  You use the – (minus) key on the keypad to unclear a transaction, that is, change the tick back to a cross.

4.If any transactions do not reconcile, edit the transaction by highlighting the transaction and clicking on the Edit button.

5.Any transactions not yet included in the statement should remain with a red cross.

6.Enter any transactions appearing on the statement that have not been entered into Phoenix (e.g. Bank Fees) by Clicking on the New button.

7.When all transactions on the statement have been reconciled, enter the closing balance from the statement in the Statement Balance field.  This should agree with the Closing Balance field in Phoenix. The difference between the reconciled amount and the Closing Balance must be zero – look at the Difference field at the lower right area of the screen.

8.Click the Reconcile & Open Next Period button.

 

 

 

 

 

See also:

Write Off Stale Transactions

Reopen a Reconciliation

Report on a Previous Reconciliation

 

See also Useful tips for searching tips

©2024 AGDATA Holdings Pty Ltd trading as AGDATA Australia