Church360° allows users to reconcile transactions for asset and liability accounts as they appear on a church's bank or credit card statement.
This process will mark all selected transactions with a cleared status, meaning they cannot be edited, copied, or voided.
To reconcile transactions for an account,
- Go into Ledger from the Navigation bar.
- Click the Chart of Accounts tab to view all of your current accounts.
- Find an eligible account and click the arrow to the far right of the account name.
- Under Account Details, click the "Reconciliation" tab to view previous reconciliations. To start a new reconciliation, click "Add Reconciliation". If a reconciliation has been started already, click "Continue Reconciliation".
- In the reconciliation window, add a Statement Date for your report. Typically, this would be the beginning or ending date for your statement, but is ultimately dependent on your administration's preference.
- Enter the starting balance and ending balance as shown on your bank statement. If this is the first reconciliation in the software, the starting balance may need to be edited to include or exclude transactions made during the set-up of your chart of accounts. The difference between the two balances is shown at the bottom of the screen.
- Use the search bar and date range selector above the transaction table to show and hide relevant transactions. The field headers can be clicked to sort visible transactions as needed.
- Check the box next to each transaction that matches a transaction found on your bank statement. Under the list, the "Off by:" field will compare the difference between the starting and ending balance fields and the totals of the deposits and withdrawals currently selected.
- Selected Deposits - This total refers to incoming funds to the reconciled account
- Selected Withdrawals - This total refers to outgoing funds from the reconciled account.
- To finish posting your review and mark all selected transactions as cleared, click "Post" once the "Off by:" total is at $0.00. To save your progress and close the reconciliation window without posting (and thus not marking the selected transactions cleared), click on "Save for later".
- A new entry under the Reconciliation tab will appear after posting. Clicking on the Arrow action button next to an entry will show the past reconciliation listing, where you can then print or export for your records.
Note: If an asset or liability account is not in the list of available accounts, you may need to edit the account to allow transactions to be reconciled. If a parent account is marked to allow reconciliations, transactions for all of its child accounts will be available when reconciling.
Note: The table of transactions can be filtered by the search bar under the balance fields or by the date selector to the right. If you do not see all relevant transactions for your reconciliation, you may need to adjust the date range to include more transactions. It's also important to note that the dates used are when the transactions were entered into the software, which might be slightly different than the date they were cleared by the bank or credit card company.