21st Century Accounting Help - Bank Accounts

Bank Accounts and Reconciliation

The Reconciliation command lets you reconcile your bank statement with the transactions that have been recorded in 21st Century Accounting affecting bank accounts that you specify.

When you select a bank account, the system displays an ordered list of all transactions that have been entered into the system affecting the account, including withdrawals, deposits, transfers, and journal entries. You mark each transaction as appearing on the bank statement or as still outstanding.

You also can use the Reconciliation window to enter miscellaneous transactions, such as electronic transfers and fees, which have not yet been entered into 21st Century Accounting.

The Reconciliation window displays the period ending balance for the general ledger account assigned to the bank account being reconciled to facilitate reconciling your bank statement to the actual general ledger account balance.

A record of all credit card transactions is kept in a separate credit card journal, and can be optionally reconciled with the credit card company deposits that appear on the bank statement that have not yet been recorded in 21st Century Accounting.