aACE provides a bank reconciliation tool for easy account balancing.
- Navigate to Accounting > Bank Reconciliation.
- In the menu bar, click New.
- Enter the following details:
- Select the account you wish to reconcile.
- Enter the statement date as shown on the bank statement (format mm/dd/yy).
- Enter the ending balance shown on the bank statement.
- Click the link to Build/Refresh Statement Items.
- Reconcile the items displayed on the screen against the items appearing on the bank statement — for each match, mark the Cleared flag.
Note: You can create additional transactions (e.g. general journal entries), if necessary, using the Quick Links. When you return to the bank reconciliation, click Build/Refresh Statement Items again to display the new entries.
- Click the green Totals () icon to calculate / recalculate the totals shown on the screen.
- Review the reconciliation totals shown in the lower-right — Reconciliation Error should show zero.
- Click Save.
- At the confirmation dialog, click Clear.
You can leave the reconciliation in pending state by clicking Not Yet.