When reconciling a liability account for the first time, there may be transactions not in Church360° that need to be accounted for.
To do this, users can adjust the starting balance for the initial reconciliation to allow the ending balance to coincide with the transactions that are available.
- For transactions that increase the liability's total, like using a credit card to make a payment, you will want to subtract those amounts from the starting balance.
- For transactions that decrease the liability's total, like paying off a loan, you will want to add those totals to the starting balance.
For example, if a credit statement has a starting balance of $400, with $75 in checks/payments, and $100 in deposits not found in the Church360° system, the starting balance would be adjusted to $425.