Why Do Bank Reconciliations?

Bank reconciliation is an essential tool for every account system for two primary reasons. First, bank reconciliation helps ensure that your bank balance matches your book balance and helps you identify why there are differences. This helps you catch potential errors and improve the accuracy of your books. Secondly, it improves your internal controls by locking down cleared transactions so they cannot be edited without reopening a past period. This process should be done regularly. For most organizations, it is a monthly process, but that may vary depending on your needs.

How to Do a Bank Reconciliation

Bank Reconciliation is specifically designed for the purpose of reconciling your bank statement with the information in Aplos. See the step-by-step instructions in this article completing a bank reconciliation.

Bank Reconciliation Reports

You can access your Bank Reconciliation Report from the Report screen under Other Reports. Your bank reconciliation history is available from the Bank Reconciliation screen. You can select the end date of the period you wish to see to open or print the bank reconciliation report for that period. Check out this article to further understand your bank reconciliation report.

Changing Completed Bank Reconciliation

Performing a bank reconciliation in Aplos closes the period for those cleared transactions, preventing edits. If an error is found, an administrator can reopen a prior reconciliation from the "Reconciled" tab. To learn more about this process check out our article on Change Completed Reconciliations.

Need more assistance?

Having trouble completing your bank reconciliation? Check out our article on tips and tricks to optimizing the bank reconciliation tool.