How to Reconcile Your Account

Reconciling an account means balancing your Argenta records against your bank. Argenta has reconciliation built in. (This is a financial page, so you need finance manager or administrator access.)

Open the reconcile screen

1. Go to General Financials > Chart of Accounts and find the account you want to reconcile.
2. Click the account register icon on that account's row to open its Account Register.
3. In the register, click the green Reconcile Account button at the top. This opens the Reconcile Account screen.

Step 2. The account register icon is the first of the four on the row.

Step 3. The green Reconcile Account button at the top of the register.

Reconcile your transactions

1. Check the Enter Your Bank Balance field. If this account has a linked bank, Argenta has already filled in the bank's own figure and shows how old the bank says it is. Otherwise type the balance from your statement. You can type over the filled-in figure whenever you are working to your own dates.
2. Optionally, set a Statement Period (a start and end date) and click APPLY to show only the transactions in that window. Leave it blank to show every unreconciled transaction.
3. Use the four figures at the top as your guide:
   • Balance – your account's balance in Argenta.
   • Unreconciled – the total of transactions that have not been reconciled yet.
   • Difference – how far your account balance is from your bank balance.
   • Discrepancy – how far off you still are; it reads BALANCED! once everything lines up.
4. Check the box next to each transaction that has cleared your bank.
5. Click Mark as Cleared. The figures update, and when the Discrepancy shows BALANCED! your account is reconciled.

Steps 1 and 2. Leaving the Statement Period blank shows every unreconciled transaction.

Step 3. The four figures. Discrepancy reads BALANCED! once everything lines up.

Steps 4 and 5. Tick each transaction that cleared, then click the highlighted button.

Reconciled transactions are marked as reconciled, so you can tell at a glance what has cleared. You can filter the account register by reconciled status at any time.

Reconcile against a connected bank

If you connect this account to your bank with the Bank Feed, the reconcile screen splits into two tabs, each carrying a count of what is waiting behind it:

• Match Your Bank lists what your bank reported. You tick each bank line off against the entry in your books that it is, and ticking one off records the tie and nothing else, so it never writes anything into your ledger.
• Balance And Finish is the reconciliation itself: the four figures and your transactions.

The screen opens on Match Your Bank when your bank has sent lines that are still waiting on you. An account with no linked bank never sees the tabs and goes straight to the reconciliation. See Connecting Your Bank with the Bank Feed.

Finish the reconciliation

Once the Discrepancy reads BALANCED!, click Close Out This Time Period. It sits at the far right of the tab row, next to Mark as Cleared.

Two things are worth knowing before you click it:

• It will not close a reconciliation that does not balance. If the difference is anything other than zero, Argenta refuses and tells you the amount it is out by. A closed reconciliation is what the Bank Reconciliation report shows an auditor and it cannot be edited afterwards, so the difference has to reach zero first.
• You do not need a Statement Period to close. The dates are optional here as well. Closing without them means the reconciliation covers everything up to the day you closed it, and it is recorded in those words.

Past reconciliations

Every reconciliation you have closed is listed under Past Reconciliations at the bottom of the screen, with its statement period, the statement balance, the cleared total, the difference and who finished it. A reconciliation closed without dates reads Everything up to the date it was closed. Open any of them with the orange arrow to see the whole record. They are permanent and cannot be changed.