When the time comes to reconcile your records with your bank statement, Express Accounts has tools to help make sure all transactions are accounted for. You can reconcile manually, or upload your electronic bank statement into Express Accounts for faster reconciliation.

Reconcile Account Manually

To begin reconciling an account, gather your bank records, then click the Transactions menu and select Reconcile Account to open the Reconcile Account dialog. Select the account you would like to reconcile from the Account drop-menu, and the account's unreconciled journal entries will be displayed in the Local Ledger Transactions section. Select the Bank Statement Date, and enter the balance provided on your bank statement.

As you compare the Local Ledger Transactions list to your bank statement, tick off the entries that match.

Once all the entries are checked off and the account shows a $0.00 amount in the Out of Balance field, click the Reconcile button at the bottom of the window to record the statement reconciliation.

For more information on this dialog, view the Reconcile Account topic in the Screen References section of this manual.

Upload Bank Statement

Click the Load a bank statement button under the Bank Statement's list, which should be empty at this point. Browse to the bank statement file. Express Accounts can only load files in .csv or .ofx format. Click Open to load the statement into the Reconcile Account dialog.

Express Accounts will compare your local ledger with the bank statement and will match transactions for reconciliation to save you time. In your local ledger list (the list on top), reconciled transactions will be checked off and highlighted in green. Items that remain unmatched in your local ledger list may contain errors.

Items that appear in the bank statement list (the lower list), but not in your local ledger list can easily be added. Select the entry from the bank statement list and click the Add Transaction button. The transaction will be added to the local ledger list and will display as a reconciled entry.

In the bank statement list (the lower list), entries that appear in red are highlighted as possible recurring transactions. If you select the entry and click Add Transaction, the entry will be added to the local ledger list, and will be automatically added to the local ledger list every time a bank statement containing the entry is loaded to the Reconcile Account dialog.

For more information on this dialog, view the Reconcile Account topic in the Screen References section of this manual.

Recalculate Balances

During reconciliation, if you are making changes to journal entries, the changes might not refresh as they should. If you find your accounts are not balancing, try recalculating the balances in Express Accounts to see if it helps with your reconciliation. To do this, exit reconciliation and click the Transactions menu option in the main window and select Recalculate Balances. Express Accounts will run a recalculation automatically, and you can return to your reconciliation without taking further action.