To reconcile an account for the first time using AccountEdge

1. If you haven’t already read the Month-end Procedures Overview, see Reconciling an account for the first timeMost likely, some of the checks you wrote and some of the deposits you made before you began using AccountEdge will be reflected in your bank statement when you reconcile an account for the first time using AccountEdge. In order to reconcile the account, these transactions must also appear in the Reconcile Accounts window, but, since you conducted the transactions before you began using AccountEdge, there will be no AccountEdge record of those transactions. This situation must be resolved before you can reconcile the checking account. for more information.Create a General Journal entry for the checking account, with a separate debit for each deposit that hasn’t cleared yet and a separate credit for each check that hasn’t cleared yet.
2. It’s unlikely that the debits will equal the credits in the General Journal Entry window. If the Out of Balance field underneath the scrolling list shows an amount, you’ll need to enter another line item with an amount that balances the debits and credits.
3. Click Record.
4. In the Checkbook Command Center, click Reconcile Accounts to open the Reconcile Accounts window.
5. Enter the account you want to reconcile in the Account field. The checks and deposits you’ve entered, as well as the individual line items in the General Journal entry you just created, appear in the scrolling list in the middle of the window.
6. Enter the ending balance on the statement that your bank sent you in the New Statement Balance field.
7. Enter the closing date that appears on your bank statement in the Bank Statement Date field. Only the transactions dated on or before that date will appear in the scrolling list.
8. Mark all checks and deposits that are on your bank statement; also mark the balancing amount entry you created in step 2.
9. Click Reconcile. A window appears, indicating whether your account is reconciled or is out of balance.
10. If your account is reconciled, you can either reconcile the account or print the Reconciliation Report.
11. Click Reconcile to reconcile the account. Click Print Report to print the report. If you print the report, be sure to click Reconcile again to complete the reconciliation process after the report’s been printed.