Reconciling a credit card statement
- From the Manage menu, click Bank Register.
- Click the Reconcile tab.
- If the statement you want to reconcile is not for the account listed, select a different account.
- In the Bank Statement table at the upper right of the window, enter the date of the statement you want to reconcile.
| Note: | If you later want to see entries for a closed statement that you have already reconciled, you can click the statement date in the table. |
- Enter the ending balance from your credit card statement.
| Note: | If you enter an incorrect date or ending balance and need to change it, simply click it and make your changes. |
- If you want to include any comments about the statement, enter your notes.
- The main table contains all outstanding items not reconciled on previous statements. Ajera automatically marks all items through the statement ending date as reconciled. As needed, you can unmark items marked as reconciled for the statement ending date, and you can mark any items later than the statement ending date as reconciled.
| Note: | If you open a statement that you marked as closed, the table contains all reconciled items for the statement. If you open a statement that has not yet been closed, the table contains all reconciled and outstanding items for the statement. |
If you need to add transactions, enter credit card transactions by clicking the Register tab.
- Change the sort order or the appearance of columns, as needed.
- Clear the Cleared check box to indicate that the financial institution did not yet post the transaction as of the statement date.
- Clear the Reconciled check box to indicate that a transaction does not appear on your statement.
- Click Save.
- If you are finished reconciling the statement and the remaining amount is zero, click the Print button at the bottom of the window to print the Bank Statement report.
Use this report to:
- Print a file copy of your credit card register, as needed. In some cases, you may need to provide your CPA with a printout.
- Verify that the register balances to the payable account balance in the Trial Balance. The Balance As Of amount on the Bank Statement report should equal the Trial Balance payable account balance for the statement date.
The Bank Reconciliation report includes an amount for unpaid balance. The unpaid balance is the amount remaining to pay on the vendor invoices created when you close the credit card statement.
If you make changes to the statement, click the Save button at the bottom of the window, and then click the Print button to see your changes reflected in the report.
| Note: | If you need to view transactions from other statements, click Save and then click the row for the statement you want to view. |
- When the register is in balance, click the Closed check box for the statement in the Statement table. Ajera enters a vendor invoice for the payment to the credit card company. After you close a statement, you are able to enter and reconcile the next statement.
About credit and debit account designations:
The credit card payable account is a liability account. If the Balance As Of amount appears as a positive amount, the account balance on the Trial Balance report appears as a negative amount so as to indicate that you owe an outstanding balance on the credit card.
See also
