Reconcile your bank statement

  1. Open the Bank Reconciliation screen.
  2. Note the active company. If you want to change it, click in the header and select the appropriate company.
  3. In the Account field, do one of the following:
    • Enter the general ledger account associated with the bank account you want to reconcile.

    • Click to select the general ledger account associated with the bank account you want to reconcile from a lookup list.

  4. In the Reconciliation Thru Date field, enter the closing date from your bank statement or click to select the date from a date picker.
  5. Press Tab.
  6. In the Bank Opening Balance field, enter the opening balance from your bank statement. The default value for this field is the bank closing balance from the last time you reconciled your bank statement. You typically won't need to modify this value.
  7. In the Bank Closing Balance field, enter the closing balance from your bank statement.
  8. Review the transactions on the following tabs as described on the Bank Reconciliation Screen Field Reference:
    • Payments tab

    • Deposits tab

    • Adjustments tab

    • Transfers tab

      Note: You may need to add transactions that appear on your bank statement but don't appear in ProContractor. In this case, click Finish Later to save your work and close this screen. Once you enter and post the transactions that were missing, display the Bank Reconciliation screen again to continue reconciling.
  9. Review the Reconcile Bank Statement tab as described on the Bank Reconciliation Screen Field Reference and confirm that the Reconciling Difference field is .00.
  10. Review the Reconcile GL to Bank Statement tab as described on the Bank Reconciliation Screen Field Reference and confirm that the Reconciling Difference field is .00.
  11. Click Reconcile Complete to save the reconciliation information and mark all cleared transactions as reconciled.
    Note: If the value in either of the Reconciling Difference fields is not .00 when you click Reconcile Complete, ProContractor provides a warning and gives you the option of continuing to reconcile.