Bank Account reconciliation is the process of checking that all the items which make up the actual changes in the various business bank and credit card accounts are fully reflected in Liberty Accounts records.If the account reconciliation balances, your bank or credit card account corresponds accurately with your own records.

See 'Bank reconciliation' process for more information.

The date of the last statement that has been reconciled.

The date of the current statement to be reconciled. The date can either be entered manually or selected from the pop-up calendar by clicking the  icon. The As At Date must be entered in the format DD/MM/YYYY, for example, 01/01/2000.

The starting balance on the current statement.
Liberty Accounts will automatically bring forward the figure from the last reconciliation.

The ending balance on the current statement.

The total value of the payments being reconciled. This field is calculated based on the transaction(s) selected to be reconciled.

The total value of the deposits being reconciled. This field is calculated based on the transaction(s) selected to be reconciled.

Any discrepancy between the transactions selected for reconciliation and starting and ending balances will dispay here. Reconciliation cannot be completed until a zero value exists here.

The branch in this list will be used to associate any bank charge or interest journals generated as a result of the reconciliation with the selected branch. The branch is populated by default using the branch associated with the account in the account details screen.

Record any bank charges that appear on your statement here.

Enter the date of the charge.The date can either be entered manually or selected from the pop-up calendar by clicking the  icon. The As At Date must be entered in the format DD/MM/YYYY, for example, 01/01/2000.

The account drop down list is used to associate the line item of a transaction with an account from the chart of accounts.

If appropriate to the form in use, when a transaction is first created, Liberty Accounts uses a filter mechanism to try and make it easy to select an account from what might otherwise be a very long list of accounts.

For the main purchase transactions the account drop down initially presents a list of expense accounts only.

For other non-purchase transactions the account drop down initially contains a list of account types. Select the account type from which you want to select an account e.g. Current Liabilities. You will then be presented with a filtered list of accounts appropriate to the selected account type. Simply select the required account.

If you wish to choose an account that is of a different account type simply select "Clear Filter..." and start again.

When editing existing transactions you will be presented with a list that contains all of the accounts, separated using highlighted headings for each account type.

Record any interest charges that appear on your statement here.

Enter the date of the charge.The date can either be entered manually or selected from the pop-up calendar by clicking the  icon. The As At Date must be entered in the format DD/MM/YYYY, for example, 01/01/2000.

The account drop down list is used to associate the line item of a transaction with an account from the chart of accounts.

If appropriate to the form in use, when a transaction is first created, Liberty Accounts uses a filter mechanism to try and make it easy to select an account from what might otherwise be a very long list of accounts.

For the main purchase transactions the account drop down initially presents a list of expense accounts only.

For other non-purchase transactions the account drop down initially contains a list of account types. Select the account type from which you want to select an account e.g. Current Liabilities. You will then be presented with a filtered list of accounts appropriate to the selected account type. Simply select the required account.

If you wish to choose an account that is of a different account type simply select "Clear Filter..." and start again.

When editing existing transactions you will be presented with a list that contains all of the accounts, separated using highlighted headings for each account type.

Record any interest earned that appears on your statement here.

Enter the date of the charge.The date can either be entered manually or selected from the pop-up calendar by clicking the  icon. The As At Date must be entered in the format DD/MM/YYYY, for example, 01/01/2000.

The account drop down list is used to associate the line item of a transaction with an account from the chart of accounts.

If appropriate to the form in use, when a transaction is first created, Liberty Accounts uses a filter mechanism to try and make it easy to select an account from what might otherwise be a very long list of accounts.

For the main purchase transactions the account drop down initially presents a list of expense accounts only.

For other non-purchase transactions the account drop down initially contains a list of account types. Select the account type from which you want to select an account e.g. Current Liabilities. You will then be presented with a filtered list of accounts appropriate to the selected account type. Simply select the required account.

If you wish to choose an account that is of a different account type simply select "Clear Filter..." and start again.

When editing existing transactions you will be presented with a list that contains all of the accounts, separated using highlighted headings for each account type.

Transactions are select for reconciliation by checking the checkbox to the right of the item.

The  button provide you with a quick way of unchecking all of the checkboxes.