When your bank statement arrives, you can reconcile it with your checkbook
register in The House Manager.
Reconciling your account is simply a process that verifies that your records and the bank's records show the same amount of money in your account for a specific period.
Click on Reconcile from the Checkbook button on the launching station, and the following window will open:
1. From your bank statement, enter your opening and ending balance by
clicking on those fields.
2. Enter any service charges or interest earned in the appropriate fields. The House Manager will fill in today's date and the suggested account for each item. You may change them if you wish.
3. Deposits and checks that have not been reconciled automatically appear in the two scrollable windows on the screen. Check off every item that has cleared your account by clicking in the box under the checkmark for that item.
4. Once you have done this, look at the Ending Balance and Cleared Balance fields. The Ending Balance is the balance shown on your bank statement, and the Cleared Balance is the sum of all reconciled checks and deposits. The difference between the two is shown below them, and should be zero. If it isn't, you are missing some transactions.
Hint: The most common reconciliation error is to miss bank charges or accrued interest.
5. When you are finished, Click on Done. An alert box will pop up verifying that you have reconciled correctly and wish to continue. If your Difference balance is not zero, you should not continue because once you do you can not go back and edit reconciled items. Make sure that all items are correct before you lose the ability to edit them!
The House Manager has powerful searching and reporting capabilities that allow you to generate all kinds of reports. This chapter guides you through the steps you'll need to create just about any report you can imagine. The examples we are using here are taken from the Members file. Chances are good that you will be doing most of your reporting from the Members file, too; nevertheless, these techniques work exactly the same in the Budgets and Chapters files.