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Blog | Product Updates

How to Reconcile Transactions

Posted by Peter Frank on Aug 6, 2014 9:00:00 AM
Just as it is important to balance your personal checking account to ensure the accuracy of your monthly bank statement, it is equally as important to reconcile your church’s asset accounts with their bank statements.

Church360° Ledger makes it easy to reconcile your transactions in an asset account.

  1. Starting from the Home Page, click on "Assets" and click on "Categories" until you find the asset account that you wish to reconcile.
  2. Using a custom range in the Date Picker, select a range similar to the range on your bank statement.
  3. Click on the "Reconcile" button to open the reconciliation box.
  4. Enter the Starting Balance and Ending Balance as shown on your bank statement. An amount will appear in the Difference field that is the total of the transactions that need to be reconciled.
  5. Review each transaction on your statement and click the checkbox next to the corresponding transaction on your account profile screen. As you click on transactions, the Difference number will move closer to zero.
  6. Once you have checked all of the appropriate transactions, click "Save."

The reconciliation process is complete. Any transactions during that time period that were in both places should be investigated.

Church360 Ledger Reconciliation

 

If you need any help reconciling an account, please contact our software support team at support@cts.cph.org or (800) 346-6120.

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Peter Frank

Peter Frank serves at Concordia Publishing House as a Senior Marketing Manager for Church Supplies, including Concordia Technology Solutions (CTS), the church management software division. A graduate of Concordia University Wisconsin, his background in theology, business, and computers gives him a unique perspective on technology in the church. Married and the father of two children, he is frequently humbled when his young children teach him something new about technology.