Credit Card Reconciliation

Follow these steps to reconcile your credit card account

Step 1: Access the Credit Card Reconciliation Tab

1. Navigate to the Bank Reconciliation tab in your accounting system.

2. Click on Create to start a new reconciliation for your credit card.

Step 2: Select the Credit Card Account

1. From the dropdown menu, select the credit card account that you want to reconcile.

2. Click Next to proceed to the next step.

Step 3: Enter the Balance from Your Credit Card Statement

1. In this step, enter the balance shown on your credit card statement. This information is essential for the system to perform accurate calculations during the reconciliation process.

Step 4: Match Transactions

1. Review and select the accounting transactions that correspond with the entries on your credit card statement.

2. Ensure that all withdrawals and deposits are correctly matched with the transactions from your statement.

Step 5: Verify the Calculation of the “unresolved” Field

1. Verify the calculation:

   • Make sure that the Unresolved field is correct and that the difference between the balances, withdrawals, and deposits is accurate.

   • The Unresolved amount should be zero to ensure that the reconciliation is complete.

Step 6: Submit the Reconciliation

1. After confirming that the Unresolved amount is zero, and all transactions are matched correctly, click Submit to finalize the reconciliation.

2. If the Unresolved amount is not zero, the reconciliation cannot be submitted, and you will need to address any discrepancies.

Step 7: Download the PDF of Your Credit Card Reconciliation

1. Once the reconciliation is submitted successfully, you can download a PDF version of your credit card reconciliation for your records.

2. Click on Download PDF to save the document.

 

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