How to Set Up a Reconciliation Run

Description:

A Reconciliation Run defines the date range and financial parameters for a bank reconciliation in Profitz. You use this screen to set the bank account, statement date, and opening/closing balances before performing the reconciliation.

Step‑by‑step instructions

Before starting, ensure you know which Bank Account and Statement Date you are reconciling.

1. Review and Manage Existing Runs

Use the toolbar to manage reconciliation runs.

• Use the Add Button to create a new run.
• Use the Edit button to update the details of an existing run.
• Use the Delete button to remove a run you no longer need.
• Use the Auto Reconcile button to import bank transactions from Excel for automatic matching.
  • See Excel Import Bank Reconciliation for more information.
• Use the History button to view the audit history for the selected run.

2. Create a New Reconciliation Run

Click Add to create a new reconciliation run.

1. Bank Account: Select the bank account you are reconciling. This defaults to your primary bank account. Click the lookup (magnifying glass) to choose another account.
2. Reference: Enter a unique reference for the reconciliation run.
3. Date: Enter the date you are reconciling up to.
4. Important: Only transactions dated on or before this date will be included.
5. Opening Balance: The closing balance from the previous reconciliation run.
6. Note: For your first run, this value will be 0.
7. Closing Balance: Enter the closing balance from your bank statement for the selected date.

3. Continue to Bank Reconciliation

Click Save to finish creating the reconciliation run.

You can now complete the reconciliation using:

• GL Bank Reconciliation (Classic)
• GL Bank Reconciliation – Excel Import & Auto‑Matching

FAQ

What if my Opening Balance is incorrect?

Check the closing balance of the previous reconciliation run. The Opening Balance is the same as the closing balance on the previous run. First run the Opening Balance will be 0.

Can I change the Date after creating the run?

Yes, as long as the run has not been reconciled. Click Edit to update the date.

Related articles

• GL Bank Reconciliation (Classic)
• Excel Import Bank Reconciliation