00:03: It in this video, we will show you how to perform bank reconciliation in carrot legal to reconcile, your bank account navigate to accounting module.
00:14: Select Banks and registers table.
00:17: And click the plus sign on the right side.
00:21: Then we're going to select bank reconciliation, from the menu and the new start reconciliation models will display. We're going to complete the required Fields such as selecting the bank account that we will be reconciling and the ending balance, which can be found on our main statement.
00:39: And entering the ending day.
00:41: Which also provided at the bank statement, the starting balance will be pre-populated, which is also the ending balance of the previously reconciled months. So carrot only has that information.
00:54: After that, we're going to click begin.
00:58: On the following screen.
01:01: We will see our starting balance and ending balance on top and you transaction that have clear dollar lady and down below, there will be list of transactions for the month that we are consoling, as well as any transactions that have been previously entered in the system but haven't cleared the bank yet. So that will be our outstanding items.
01:23: So the next step will be, we will start checking off any transactions that have cleared the bank.
01:31: And I'm going to just leave a few transactions as outstanding at the end. After we cleared everything, what we see on the bank statement, our difference should become zero. That means we have reconciled
01:45: Once it is done, we are able to save our report.
01:49: And also we can print it print either. A consult, transactions, only or all transactions.
01:58: After the reconciliation is completed.
02:02: If you at any point of time, if you need to access their Reconciliation Report again you will be able to do so.
02:10: From the accounting module.
02:13: Reports step.
02:14: We're going to Select Accounting reports here and click on the counterclock.
02:21: In the screen of all, see, all accounts that have been previously reconciled, we can narrow down to just one account if we would like to. And see all the months that have been reconciled before, from there, you can either delete the Reconciliation Report by clicking this. Trash trash can icon or open the app backed for editing by clicking the pencil icon.
02:42: And if you click on the plus sign here on the right side, you will be able to start new reconciliation as well.
02:50: And with this steps, you will be able to reconcile your bank accounts and ensure their accuracy of your financial records every single month.