Reconciling is the monthly check that your books agree with the bank. You take the statement the bank sent, tick off everything on it, and confirm nothing is left over. Once the difference is zero you sign the month, and from then on every report that draws on that period rests on a number somebody actually checked.
Find it at Accounting → Bank Reconciliation.
This is not the same as Transaction Matching
There are two screens and they answer different questions.
Transaction Matching (Accounting → Bank → Transaction Matching) compares your bank feed against QuickBooks or HousecallPro. It finds records one system has and another is missing. That tells you whether your systems agree with each other.
Bank Reconciliation compares your books against the bank's own statement. That tells you whether they agree with the bank, which is the one that counts. Only this screen produces a signed month.
Doing a reconciliation
- Open Accounting → Bank Reconciliation and pick the account you have a statement for.
- Enter the statement ending date and the statement ending balance. Both come straight off the statement, and they are the only two numbers you type.
- Tick every item that appears on the statement. Deposits are on the left, withdrawals on the right, the way a statement reads. Tick everything clears a whole column at once.
- Watch the Difference at the top. When it reaches zero, Sign this month becomes available.
You are not asked for an opening balance. Omnyra carries it forward from the last month you signed, so a run of reconciliations forms a continuous chain. A typed opening figure is the classic way a reconciliation balances against a number that was never true.
When the difference will not go to zero
Work through these in order.
- A transaction on the statement that is not in the list. The bank feed has not picked it up yet. Wait for the next sync, or record it as a journal entry.
- A journal line that moved cash but did not say which account. Omnyra shows these in an amber panel above the columns, because they are the usual reason a difference has no visible cause. Pick the right account from the dropdown and the item becomes tickable.
- Something in your books that is not on the statement. A check that has not cleared is normal and should stay unticked; it will appear on next month's statement. A duplicate is not, and should be removed.
- An amount that differs by a small figure. Compare the two directly. A transposed pair of digits is the usual culprit.
Signing the month
Signing records who reconciled the account and when. Omnyra will not let a month be signed at any difference other than exactly zero, because the value of the signature is that the number behind it was exact.
A signed month keeps the figures it was signed with. If a transaction is later withdrawn by the bank or a journal entry is voided, the reconciliation does not quietly change; it tells you what no longer matches its source, and the figures you signed stay as they were.
Reopening a signed month
If something has to change, reopen it. You are asked for a reason, and the reason is kept alongside who reopened it. A reopened month is marked as reopened rather than returned to a plain unfinished state, since the fact that a signed month was unsigned is itself something an accountant asks about.
Only one reconciliation can be open per account at a time.
Where to go next
Once a month is signed you can lock the period so nothing can be posted back into it, and run a trial balance to hand your accountant.