Reconciliation is a normal function of your accounting process. To reconcile your account means to balance your account with the bank. Argenta allows you to reconcile your account within the program. To use the reconciliation built into Argenta, choose from the main menu, left-hand side, General Financials > Chart of Accounts.
This will open up your chart of accounts. From here search and select the account you wish to reconcile. Open the account by selecting the corresponding account register icon .
This will open the account register for the selected account. From here you will choose the "Reconcile Account" button at the top of the screen.
This will redirect you to the reconciliation screen.
You'll notice there are unreconciled, difference, and discrepancy amounts displayed. These will serve as a guide to help you balance your account.
- Unreconciled amount is the amount of transactions that have not cleared. (This will be the total of all your uncleared transactions.)
- Difference is the amount that you are off between your account balance and your bank balance.
- Discrepancy is the amount you are off between what your bank balance is and the transactions selected.
To start reconciling enter a bank balance in the "Enter Your Bank Balance" field. Tab off of this field for the screen to upload the amount.
Then, start selecting the items that have cleared your bank by placing check marks in the corresponding entry lines.
Once all the corresponding entries have been selected you will select the "Reconcile Selected Transactions" to reconcile these selected transactions and update your unreconciled, difference, and discrepancy amounts. When you are finished you should have in red, "BALANCED! Discrepancy = $0.00" this means that you are balanced and everything reconciles.