In Simple Accounting, you balance your check register much as you would using a paper and pencil in a one-write checkbook, by tagging each record (check or deposit) in the Check Register when it clears.
As you clear records, totals appear at the bottom of the screen indicating the amount of uncleared debits and credits within the selected time period. At any time you can enter bank service charges which can be automatically posted to your ledger.
Fields
| Bank Statement Date | The date according to your bank statement. |
| Bank Balance | The balance according to your bank statement. |
| Check Register Date | The date the reconciliation should appear in your Check Register. Any Service Charge or Interest amounts will be posted as of this date. This allows you to reconcile after Cancel the current operation. |
| Interest Earned | The amount of interest earned according to your bank statement. |
| Service Charges | The amount of interest earned according to your bank statement. |
| Clear Tagged Records | Check this box to clear all tagged records and mark them as permanently cleared. Once a record is marked as Cleared it is no longer considered outstanding. |
Procedure
1. Open the Check Register and select a Bank Account to reconcile.
2. Next, select a range of dates to view.
3. Now press [Ctrl/Spacebar] or use your mouse to tagor untag an entry as having cleared the bank. A running total of debits and credits is maintained at the bottom of the screen.
4. When you have tagged all items as cleared, press the [Balance] button to open the Checkbook Balances Window. You are immediately asked if you wish to Update The Running Balance for the selected Bank Account. You should always answer Yes the first time you open the Checkbook Balancer.
5. When the Check Register Balancer opens, enter the ending balance on your bank statement, plus any bank service charges and interest gained from your statement.
6. If the Adjusted Balance at the right of the window matches the Difference at the left of the window you are in balance. In that case, check the Clear All Tagged Records? box and press [OK] to save your changes.
If the Adjusted Balance at the right of the window does not match the Difference at the left of the window, make a note of the Difference then press <Esc> or click the close window box to return to the Check Register. You must then locate the difference between your Adjusted Balance and your Statement Balance. When you find the difference and either tagged or untagged it, press [Balance] again and repear Steps #5 and #6.
7. After you press [OK] you will be asked if you wish to update the Check Register with the new statement date and these charges and interest. If the balance matches that of your adjusted bank statement proceed to enter the statement date into thedata entry window and update. This date field will update the Opening Date field in the Bank Accounts File indicating the beginning date of the account’s new monthly cycle and create an entry into the G/L for charges and interest.
The Bank Balance that appears at the right of the window is the balance in the Check Register as of the Statement Date you entered at left. This allows you to balance to prior months if necessary.
You tag records in