Reconciling a Credit Card Statement

Learn how to reconcile a credit card statement.

  1. Navigate to the Cash Management > Data Entry > Credit Card Reconciliation Entry screen.
  2. Complete the Credit card account, G/L date, and Statement date fields.
  3. In the Ending balance field, enter the credit card statement's ending balance.
  4. If using sub-accounts, click the drill-down icon to open the Statement Transaction Totals by Card window. Using the credit card statement, enter the totals by individual card in this window.
  5. In the Total transactions per statement field, verify that you entered the card properly. Modify if necessary.
  6. In the detail portion of the screen, select transactions that display on both the credit card statement and in Spectrum, and then click the Select button. A green check mark will display to the right of all transactions that are selected.
  7. Continue reconciling until the Difference field is blank (zero).
  8. Click Update. The Credit Card Reconciliation Update screen displays.
  9. In the Credit card account field, enter the credit card to be updated.
  10. Select Continueto complete the update, or select Cancel.
  11. Click OK.