Bank Reconciliation

 

Bank Reconciliation


Here's how you reconcile and balance your bank account(s). The first time (only) that you view this window, the system does some internal housekeeping that may take a couple of minutes. Don't worry, however, because every time after the first time, this window will appear quickly.

 

From the Lynx Main Menu . . .

1. Left-click on Bookkeeping.

2. A drop down menu will appear

3. Left-click on General Ledger

4. Left-click on View Bank Accounts.

5. This will display the View Bank Accounts window.

6. If the bank account you want to view is not displayed, left-click the button and/or the button until you find the bank account you're looking for.

7. Use the drop down menus to select your start and end dates for the reconciliation:

Start and end dates for bank reconcile

 

8. Enter the ending balance from your bank statement for this account:

Ending bank statement

 

9. Press the next button to go to the Deposits/Credits window

10. Compare each item on your bank statement against the corresponding line in the grid. If it's okay, left-click the Cleared Checkbox check box.

11. Press the next button to go to the Checks/Deductions window

12. Compare each item on your bank statement against the corresponding line in the grid. If it's okay, left-click the Cleared Checkbox check box.

13. Repeat this until you've gone through all of the items on your bank statement

14. Left-click the Refresh Totals button to calculate your totals

15. A new balance will be calculated including the statement balance plus or minus any non-cleared items, like this:

Bank State Balance

 

16. The system will then calculate a balance which should match your bank statement balance like so:

System Balance

 

17. If they don't balance, go back through each item on your statement and find the problem. Then recalculate the balance again. Keep this up until you're in balance.

18. When you're done, left-click the close button x to return to the Lynx Main Menu