You can reconcile an account in Localizebook to make sure that the transactions in your bank account and the transactions you’ve entered match. The time frame for which you want to reconcile an account is another option. This time frame may be established for a specific reporting period or at the conclusion of each month.

The purpose for which we make a Bank Reconcile, because we want to verify the amount in book value with the amount in the bank statement.

Noted: Before making a Bank Reconcile, go to Setting>Preference>Accounting and activate this function.

Create Reconciliation

You can reconcile your bank account in Localizebook. Here’s how:

1. Go to the Accounting menu.
2. Click on Banking.
3. Click on Bank Reconcile.
4. Click on the +Add button.
5. You will be redirect to below page:
6. Account Name: Chart of accounts that make a Bank reconcile.
7. Memo: Other marks or comments that relate to Bank reconcile.
8. Statement Ending Date: The ending period date that makes a Bank reconcile.
9. Ending Bank Balance: The ending Bank balance in Bank Statement.
10. After filling in all the information, click on the Start Reconcile button.
11. The Deposit Checkbox: Tick on a transaction in book value. Check the Different amount (if it is different, find out the outstanding balance).
12. Click the Save & Close button to finish the process.

Note: The Bank Reconcile on picture as above, we don’t tick on two transactions because these transactions Outstanding Deposit (Deposit in transit) and Outstanding Cheque (Unrepresented Cheque).

Print Reconciliation

You can Print a reconciliation that you have recorded in Localizebook. Here’s how:

1. Go to the Accounting>>Banking>>Bank Reconcile.
2. Click on the transaction of reconciliation that you want to print, click on the button and click on Print Summary or Print Detail.

The Formal Reconciliation Report

This option generates a classic, high-level bank reconciliation statement. It clearly shows how your book balance is reconciled with the bank statement balance.

This is a form of reconciliation that you have recorded in Localizebook:

The Transactional Breakdown Report

This option provides a comprehensive, line-by-line list of all transactions within the reconciliation period, separated into cleared and uncleared items.

This is a form of Transactional Breakdown Report that you have recorded in Localizebook:

Delete Reconciliation

You can delete a reconciliation that you have recorded in Localizebook. You can’t edit Bank Reconcile in Localizebook. Here’s how:

1. Go to the Accounting menu.
2. Select the Banking.
3. Select the Bank Reconcile
4. Select on the transaction that you want to delete, click on the Delete button.