Occasionally the bank makes a mistake on a check or deposit because they can’t read it. For example, you write a check for $420.80 and it clears the bank as $420.00. To reconcile the bank statement in GP click on Transactions – Financial – Reconcile Bank Statement.
Enter the bank statement ending balance from the bank.
Enter the bank statement ending date and cutoff date and click Transactions. Clear or mark each transaction on the screen that has cleared the bank. I like to do Deposits first and then compare the deposits total on the screen to the bank. Then mark the cleared checks and compare the payments total to the bank. If you have a large reconcile you can mark ranges. Click Select Range at the top of the window. Use Begin Range to mark the starting row of a range, then click End Range to mark the ending row it the range. You can then Mark or Unmark all transactions in the range.
To handle a check that cleared for a different amount highlight that row then click the blue arrow by payment and enter the amount of the cleared check. In this case I enter $420.00.
Notice the difference is .80 cents. Now click OK. Since the Difference on the reconcile is zero the book balance which is the computer balance now agrees with my bank statement balance from the bank. Click Reconcile to complete the process.
Print the reconcile reports. Here is an example.