Bank reconciliation does not reconcile

When you reconcile your client bank account(s), you compare your Alto financial records against the records provided to you by your bank.  A reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot accounting inefficiencies.  

If for whatever reason the Bank Reconciliation doesn't reconcile in Alto, there are some steps you can follow to help you reconcile.

  1. Click Accounts on the main toolbar
  2. On the side menu, within the Bank Transactions section, click Bank Reconciliation
  3. Click View on the relevant account
  • Ensure the Opening Balance matches the Last Reconciled closing balance
  • Ensure the reconciled items match those on the bank statement (i.e. if it's not on the bank statement, don't click the green thumb;  if it is on the bank statement but not on Alto, enter it on Alto so it can be included in the reconciliation)
  • Check for forward dated items that are on the bank statement but missing from Alto

If the Opening Balance is correct, ALL correct items that are on the bank statement are given the green thumbs up and, if the Statement Balance has been entered correctly, it WILL reconcile.
If it doesn't match, unreconcile every item and go through each transaction again to find the mistake.

For more information on how to carry out a Bank reconciliation, click here

Was this article helpful?
0 out of 3 found this helpful