The ability to reconcile your bank transactions gives you the confidence that the entries posted in your accounts match those that have gone through your actual bank account. This can give users peace of mind that the entries that have gone on are for the correct amount and have not been duplicated or missed, particularly for those using manual entry method rather than the bank feed or file import, where there is a chance some details may be entered incorrectly.

Farmplan Business Cloud allows users to simply reconcile their bank transactions, and provides a 'Reconciled Total' of the transactions that have been ticked to reconcile, which can be cross-referenced with a physical statement balance.

Head to Banking | Bank Accounts. Click on the name of the bank account you're wanting to reconcile - this will bring up the ledger.

At the top of the ledger screen you will see an icon for Bank Reconciliation.

Clicking this button will add additional columns within the ledger screen.

From here, it is simply a case of ticking the transactions you wish to reconcile. When transactions are ticked, it will update the 'Reconciled Total' that appears at the bottom. This will be the figure you will work to when reconciling with a physical bank statement.

You can bulk reconcile/unreconcile transactions by clicking the tick box at the top, and this will reconcile all transactions that you are currently showing on the page.

You may wish to only show unreconciled entries when doing your bank reconciliation. Simply select the 'Unreconciled' in the dropdown filter.

The search button can also be utilised to search for transactions.
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The opening balance adjustment containing your opening bank balance will be available to be reconciled and can be seen as your opening statement balance.
However if you are wanting a different opening statement balance, or are wanting to start your bank reconciliation but are already using the system and not wanting to reconcile back to the start, you can enter an Adjustment to get your required opening statement balance.

For example, I am wanting an opening statement balance of £-1,000.

Head to Accounting | Adjustments. Enter a date you wish to be your statement opening balance date.

On both lines of the adjustment select your bank account within the category drop down. Type the value of your opening balance on both lines, one as a debit amount and one as a credit amount. Save the adjustment

When you now come to reconcile your bank, you will see both lines of the adjustment. Tick only one line depending on whether your opening statement balance is a positive or negative.

If it is a positive figure, tick the line with the amount as a debit.

If it is a negative figure, tick the line with the amount as a credit.

As I was wanting a £-1,000 balance I have ticked the credit line.

Any transaction type where a bank account is affected can be reconciled. This could be a normal bank transaction, adjustment, VAT adjustment or opening balances entry. It doesn't matter whether you use a bank feed, file import or manually enter your bank transactions, you have the ability to reconcile your account on all entry methods.

Once a bank transaction has been reconciled, there a limitations in what information can be edited. The date, transaction type, total amount and currency (if applicable) cannot be changed. If any of these details need to be amended then the transaction can be unreconciled, edits made, and then the transaction can be reconciled again.

If it is a Money In or Money Out transaction, normal restrictions will then apply once it has been locked to a VAT return.

See the article here for the process on reconciling your bank account.