Reconciling prior month transactions using adjustments

When creating a trust account reconciliation, the only available entries are transactions entered within the reconciliation period.

If you have entered a transaction outside of the reconciliation period, you will need to enter an adjustment to reconcile.

For eg:

A Bank Deposit of $500 is received into your bank on 30 June, however, you received it in Smokeball on 1 July. When you are reconciling 1-30 June, you will not see this transaction as the entered date is 1 July (outside of the June dates). 

To reconcile you need to create an adjustment as follows:

  1. Open the Adjustment tab
  2. Select Add Adjustment
  3. Enter the date as the actual date of the transaction (in this case, 30 June)
  4. Enter the amount
  5. Enter the reason as 'received 30 June but receipted 1 July' (or your own words to that effect)
  6. Select type as Deposit   (or if a payment select Withdrawal)
  7. Save & Return to Reconciliation Tab
  8. Note that the Adjustment amount has been added to the Reconciliation figures and, so long as the rest of your transactions are correct, you can now reconcile.

Great - so what happens next month?

When you next reconcile, you will need to open the Adjustments tab and check the Reconcile box next to the adjustment to clear it and reconcile.

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