Bank Reconciliation is used to match the transactions that are done in your Sage 50 account. It can be easily done with the help of the original bank statements. The reconciling needs to be done every time when you get the statement from your concern bank. You need to enter all the transactions before reconciling your bank account.
For statement summary
- Firstly go to the Bank Accounts and click on your account
- Now select the Reconcile then enter the Ending Balance in it same as your statement
- Also, enter the Statement Date that is created on the end date
- Interest Earned and its date details need to be entered
- Do enter the Account Charges and its date
- In the end, click on the OK button.
For checking the Reconcile balance
- Go to the Matched Transaction panel
- In this, check your last Reconcile balance
- Now see that the last reconcile balanced is matched or not with the opening balance on the bank statement
- If its matched then you can continue to the transactions
- If it doesn’t match then you need to check all the previous calculations and statements.
For reconciling the bank statement
- Firstly make sure that the matched balance and statement balance are the Same
- There is no difference between the matched and the statement balance
- If there is any difference then
- If the difference is Zero then you have to do the reconciliation. You can see a progress bar that is shown when the software flag appears in your transactions. It creates a PDF file after reconciling the statement.
- If the difference is not zero then check it out again. Do check the saved progress. For reconciliation if you want to use this progress then click on the Use Saved to open it.
To view the reconcile report
- Do click on the bank Accounts and then click on the concern bank account
- Now click on the Reconcile and then click on the OK button
- Check the history by clicking on the View History
- Select the PDF and double-click on it that is needed.
How to get in touch?
For any technical or functional issues you can contact the team without any doubt. For more details you can connect with ReConcileBooks that is reliable accounting solutions provider. So dial the Sage 50 Live Chat support toll-free number +1844-640-1481. You can also contact via email or do a live chat with the professionals. The team is available 365 days a year to help you out.