Bank Reconciliation

Member Wizard can provide full banking reconciliation of your bank accounts.

To reconcile a bank account:

1. You will need your printed or online Bank Statement showing all transactions and the closing balance for the period.

2. Click on Money, Bank Reconciliation.

3. A list of all previous bank reconciliations will appear. Click on Add Reconciliation in the menu.

4. Enter the Bank Account you are reconciling, Statement End Date and the Statement Closing Balance (from your bank statement) in the relevant fields.

Note if you wish to include any items in this reconciliation which are dated outside the transaction period then you can double click on the transaction in Member Wizard and alter the date to the date shown on the bank statement.

5. Member Wizard will show you the End Date and Closing balance from the previous reconciliation unless this is your first reconciliation period in which case it will show the starting date and balance from your Money/Bank Accounts/Starting date and Opening balance.

6. Member Wizard shows all the amounts in the left hand column which are outstanding from either before or after the statement end date. In this way if you have post-dated expenses which have been presented within the statement period then you can double click on them and adjust their dates to match your Bank Statement. Similarly if you have expenses which were not presented from the previous statement you can double click on them and adjust their date to fit within the statement period.

7. Click on each of the transactions in the left hand Unreconciled Transactions column which matches a presented deposit or expense on your bank’s statement and then click the button Move unreconciled item right to move it to the right hand reconciled column until the amount shown in the Difference field is zero.

8. Highlight any item in the right hand column and click the left pointing arrow to remove it from the list to be reconciled should you move an item in error.

9. If there are amounts on your bank statement which have not yet been entered into your Member Wizard accounts you can use the Add Receipt, Add Deposit Add Bank Transfer, Add Expense or Import Bank Transactions buttons in the green section to enter them.

10. Be aware that if you leave the Bank Reconciliation page without clicking either Reconcile or Save you will have to start the reconciliation again. Once the Difference is shown as zero you can click the Reconcile button at the bottom of the form. If you have not yet got to a stage where you can reconcile, use the Save button to ensure you do not need to start over if you wish to leave the page.

11. You can print out a Reconciliation Report from the Bank Reconciliation List screen by selecting the period and bank account reconciliation you want and clicking Print in the menu.