Tax & Accounting Blog

Bank Account Reconciliation in Accounting CS

Accounting Firms, CS Professional Suite Accounting & Auditing Solutions August 25, 2016

Reconciling bank accounts is a complex process—but in Accounting CS, the Actions > Reconcile Bank Accounts screen and the Actions > Reconcile Impound Bank Accounts screen enable you to easily reconcile Accounting CS bank accounts.

You can download transaction data from your financial institution, and then match and clear those transactions against transactions entered in Accounting CS. Or, you can manually clear transactions entered in Accounting CS using a printed or online bank statement.

You can use the Reconciliation Analysis tab in the Reconcile Bank Accounts (or Reconcile Impound Bank Accounts) screen to help you find discrepancies in an unreconciled account. This tab provides information about the different transaction types, and includes tool tips that explain which transactions comprise each category. To view a tool tip, hover your mouse over the text for the amount in question. This tab also includes a Notes section that lists possible causes for the unreconciled amounts and provides suggestions for fixing them.

Check out additional tips for troubleshooting unreconciled amounts.