To begin the bank reconciliation process, click on the Bank Reconciliation button in the menu, and then choose the bank account that you we
want to reconcile.
Then, enter the amount
that is listed on the bank statement. Note that if you have an overdrawn
balance, you can enter a negative amount here. Just add a minus sign before the
Finally, hit Tab again, or Enter, and SFM will pull
up all entries in your system that have
yet to be reconciled for the chosen bank account.
To start, cross examine
values written on the bank statement with data in your SFM system; verify
that the previous balance on your bank statement matches the Statement Running
Balance in SFM.
Using the arrow keys,
you can scroll down to the first entry from your bank statement in SFM. Tap the Spacebar to tag the entry.
After each and every tagging, check that
the running balance in SFM matches the balance values on your bank statements. Once we have done that, cross off the entry in the bank statement, and move to
the next entry.
Do this until all
entries in the bank statement are tagged in the bank reconciliation window.
In the end, you should find that the difference is at zero.
To print your bank reconciliation statement, click on Print in the bank reconciliation
window, and then Reconciliation
To archive the bank reconciliation statement, click on the Archive button in the bottom-right corner
of the window. SFM will archive the statement and remove the tagged entries.
Your archived bank statements are found in Archive
> Nominal > Bank Reconciliation.