Reconciling Bank Accounts

To reconcile a bank account in Spectrum: 

1. Navigate to Bank Reconciliation (Cash Management - Data Entry - Bank Reconciliation)

2. Choose the bank account you wish to reconcile. 

3. Enter the G/L date as the last day of the month of the statement date. For example, if the statement is dated 08/08/2019, set the G/L date as 08/31/2019.

4. Verify the opening balance matches the opening balance of the bank statement.

5. Type in the ending balance according to the bank statement. 

6. Reconcile deposits and checks by clicking the Cleared checkbox 

7. Once the Difference is $0, select Save

8. Run and save the reconciliation listing.

9. Select Update