Statement Reconciliation
To reconcile your bank statement with your checking account:
Select Misc/Reconcile Bank Account from the Checking Account menu.
A scrollable window appears displaying all your checking account transactions. Use the scroll bar to highlight the transactions that appear on your bank statement and press the ENTER key to mark the transaction as having been processed by the bank.
When all processed transactions have been marked, press ESC to exit the window. You are asked to enter the ending balance from your bank statement. Unique then calculates an adjusted balance by summing up all the outstanding checks and deposits in the account and compares it with your ending bank statement balance.
System (Book) The checking account balance determined
Balance by Unique.
Outstanding The total amount of checks that have not
checks been marked as being processed by the bank. This amount is added to the system balance.
Outstanding The total amount of deposits that have not
deposits been marked as being processed by the bank. This amount is subtracted from the system balance.
Adjusted System This is your adjusted system balance. Its
Balance the original system balance + the total amount of the outstanding checks - the total amount of the outstanding deposits. This number should equal the ending balance on your bank statement.
Bank Statement The ending balance as entered from your
Balance bank statement. This amount should equal the Adjusted System Balance.
If the balances does not match, make sure that all the entries on your bank statement have been properly entered into the system (don't forget any monthly service misc bank and credit card charges) .