How To: Reconcile Transactions
Follow these steps to reconcile transactions in RecHound:
Open your transaction listing from within your reconciliation
Select the transactions that you wish to reconcile by checking the boxes for each line
When the total equals $0.00, the reconcile button will now be made available. Select this now
Once reconciled, transactions will not appear by default the next time you open your transaction listing for this account
You can unreconcile transactions by selecting the 'Reconciled' tab from within your transaction listing
Find the reconciliation, and open it up by selectin the down arrow on the left hand side
Select the tranasctions that you wish to unreconcile, and press the unreconcile button.
Note: You can only reconcile transactions that add up to zero. Once unreconciled, these tranasctions will now re-appear in your transaction listing by default.
More information about reconciliations
Reconciliations can only be made for transactions that equal zero exactly. This is to ensure that once the reconciled items are no longer visible, the remaining visible transactions will always equal to the balance of the account. This ensures that your transaction listing is always a list of outstanding amounts within your account, for which you can create supporting items.
Completing your first reconciliation
You will find that your first reconciliation from within each account will differ from your future reconciliations. This is because you may have a large number of transactions within the account. The best way to reconcile an account with a large number of tranasctions is by doing the reconciliation 'backwards'. This can be done by first selecting the transactions that make up the current balance in the account. A tip here is to use the last reconciliation that was performed outside of RecHound for guidance. Once the transactions that make up the full account balance are selected, hit the Create Support button. Give the support a name, and then enter back into the transaction listing. Supporting items are removed from the transaction listing view by default, so the transactions that you will be left with will now all add up to zero. Hit the select all button and then reconcile. This will give you a very clean starting base for next month's reconciliations.