What is bank reconciliation and how do I use it?

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  • JamieDJamieD Administrator Posts: 1,156 admin

    @MCS While I understand what you're saying here, the purpose of reconciling your accounts is to ensure that the transactions match up (verbatim) with what you have listed on your bank statement (including dates). With that said, if the date of a transaction is incorrect (for example, in the wrong month) the account won't be able to be properly reconciled due to the balance not being incorrect. I do agree that the Reconciliation page needs improvement, and it's something that is currently being built, so I do appreciate your patience until it's released.

    @MiddleSchoolMatt Having adjustable date ranges for reconciliation is key, I agree. As we continue to build the feature upgrade, this is one of the subject matters that we are exploring and should have implemented. We still don't have a timeline as to when this will be released, but thanks for chiming in and letting us know your pain points about this feature.

  • JustinAJustinA Member Posts: 37 admin

    @MCS @MiddleSchoolMatt @BruceB @mayorcm281 @Pip @mpryde @Pkenn @LJezard @MikaCreative @JHRED1 @mommyof4grlz, and any other interested parties. Firstly, thanks for all of the feedback, we've heard you loud and clear that the existing experience for reconciliation is lacking.

    We've been hard at work developing a new reconciliation experience that will be shipping in the coming weeks. We're at a point now where we have something ready from testing and would love some feedback. If anyone can spare 15 minutes in the next few days to test out the experience please reply to this thread or message me directly and we'll set something up. We'd love your feedback.

    Thanks!

  • mommyof4grlzmommyof4grlz Member Posts: 21

    I am willing to help out!

  • mayorcm281mayorcm281 Member Posts: 2

    I am able to participate in this test

  • PkennPkenn Member Posts: 4

    I’ve got some time

  • xeniumxenium Member Posts: 21
    Willing to test
  • JHRED1JHRED1 Member Posts: 17
  • wcm1210wcm1210 Member Posts: 1

    I have successfully reconciled my bank account. Now I need the Reconciliation Detail and Reconciliation Summary Reports. It shows your cleared transactions, your uncleared transactions, your beginning and ending balances and your register balance. Does anyone know how to do this?

  • ChelseaKChelseaK Member Posts: 261 ✭✭

    Hey guys! I am SUPER excited to announce that the upgrade for the Account Reconciliation tool is now LIVE! Thanks to your feedback, we have taken the necessary strides to make this feature more intuitive and more efficient (you can now see your transactions from the Reconciliation page!). If you'd like to learn more, head to our official feature release here: https://community.waveapps.com/discussion/5609/reconciliation-reimagined-️#latest

    edited August 23, 2019
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