Bank reconciliation

Bank reconciliation checks that your bank statement and your records in Academium agree. Open School Accounting → Journals → Bank Reconciliation. It needs a plan that includes it.

Starting a reconciliation

1. Choose the account.
2. Enter the bank statement's closing balance and date. Academium fills in the book balance from your records.

Entering the statement

Type in the lines from your bank statement: date, description, reference, and money in or money out. Academium keeps a running balance and totals. Lines can be edited or deleted.

Matching

Pair each statement line with the matching transaction in your records. Academium warns you when a pair does not match. You can unmatch a pair if you made a mistake.

Completing

You can only complete a reconciliation when the balances agree. A completed reconciliation is read-only, and shows what was matched, what was left over on each side, and the adjusted balances.

Keeping track

The reconciliation list leads with the difference still to explain. Open reconciliations also appear in Catch Up until they are finished.

Good to know

Statement lines are typed in. Statement files cannot be imported.