Bank reconciliations are performed for individual bank accounts and include all companies linked to that account. Use reconciliations to compare your Property Matrix account balance against your real bank statement and mark cleared transactions as reconciled.
Start a Bank Reconciliation
Click Accounting in the left navigation menu.
Click Accounts.
Click Actions.
Select Reconcile.
Choose the Bank Account you want to reconcile.
Select the Reconciliation Date.
The reconciliation form will refresh based on the selected bank account and date.
Complete the Reconciliation
The left side of the reconciliation screen shows calculations starting with the current Property Matrix balance. It adjusts for outstanding transactions that have not yet cleared the real bank account.
The right side shows outstanding transactions. Check off the transactions that match your bank statement. Checked transactions will be marked as reconciled and will no longer affect the outstanding balance.
Add Interest or Service Charges
If needed, you can add entries such as Interest Earned or Service Charges in the left section of the reconciliation.
When entering these amounts:
Select the appropriate Company under Post new amounts to.
Enter the additional amount.
Confirm the reconciliation date matches your bank statement.
Confirm the Statement Balance
Enter the real bank statement balance at the bottom of the reconciliation screen. The adjusted Property Matrix balance should match this amount before you finalize the reconciliation.
If there is a difference, review the outstanding transactions and any added interest, fees, or service charges to find and correct the discrepancy.
Save or Load a Draft
To save your progress, click the menu in the top right and select Save Draft.
You can save one reconciliation draft per bank account. Saving again will overwrite the previous draft for that bank account.
To resume a saved reconciliation:
Select the same bank account.
Select the reconciliation date.
Open the top-right menu.
Select Load.