Bank account reconciliation

Question asked by Duncan Ross 4 years ago

We are coming up to year end 31/12/2020 and are starting to get the bank rec sorted. We have 3 accounts Account 1 is our main bank account Account 2 is our VAT accrual account Account 3 is our general accrual account Some transaction between our main account and our sub accounts have either been missed totally or put into the wrong account so the actual account balances do not match what shows up in ClearBooks. The person who was doing our accounts has up and left and now I (I am no accountant) am trying to get things straight. I know where the errors are as I followed advice from other posts and downloaded the real bank statements and compared them to what ClearBooks shows. How do I correct the errors, add in the missing transaction and correctly place the transactions that were miss allocated back into the correct accounts please

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Hi Duncan,

I am sorry to hear that you are having trouble. It sounds like you have made some very wise decision and have read all the right advice thus far! This should be a fairly straightforward if potentially time consuming process to fix

. To correct the issue of the transactions that are in the wrong account, I would delete them all together. You can do this by clicking on the value of the transaction under the bank statement in Clear Books.

For the missing ones, I would suggest clicking on recreate statement next to the bank account in question. This will allow you to add the lines in manually very easily.

I hope this helps and if you need any further guidance please do let me know.

All the best,

Mohamed.

Best answer
4 years ago

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