This article covers:
Overview
Reconcile Section
Adding a Reconciliation
Reconciliation Detail
Warnings
PDF Export
History log
Overview
In the Reconcile section, compare your bank and/or credit card statements with TrulySmall Accounting transactions, and manually match items as needed.
Once all transactions are reviewed, you can mark the reconciliation as Reconciled.
Reconciliations can also be saved and exported for your records.
Note: each reconciliation is completed in a single currency — the same currency as the account’s opening balance.
Reconciliation Section
This section displays a list of existing reconciliations and lets you add new ones.
The list view includes the following details for each reconciliation:
Account
Statement Date Range
Statement Ending Balance
Currency
Status Icon — indicates whether the reconciliation is complete or pending
Adding A Reconciliation
When creating a new bank reconciliation, the system will prompt you to enter the following details from your bank or credit card statement:
Statement End Date
Statement Ending Balance
Auto-Populated Fields
The Start Date and Starting Balance are automatically filled in by the system:
If there are no prior reconciliations, these values are based on the account’s opening balance.
If there are prior reconciliations:
The Start Date is set to the day after the previous reconciliation’s End Date.
The Starting Balance is set to the previous reconciliation’s Ending Balance.
Note: these fields are read-only unless this is the first reconciliation for the account. In that case, you can override the Start Date if needed.
The first reconciliation does not need to match the account’s opening date. However, since each reconciliation affects the ones before it, once you’ve added a reconciliation, you can’t add any for earlier dates.
The G/L ending balance as of the statement end date is also displayed. A warning appears if the G/L ending balance does not match the statement ending balance.
Reconciliation Detail
The Summary section includes three subsections, each representing one of the key calculations used in the reconciliation (Total Matched, Matched End Balance Calculation, and Off By Calculation).
Total Matched - this corresponds to the transactions that are matched
For Banks: Total Deposits, Totals Withdrawals, Total Matched
For Credit Cards: Total Charges, Total Payments, Total Matched
Matched End Balance Calculation
Starting Statement Balance + Total Matched = Matched End Balance
Off By Calculation
Matched End Balance - Statement End Balance = Off By
Transaction List
The list section includes all potentially applicable transactions, including:
Transactions for the selected account dated within the statement period.
Any unmatched transactions from prior dates.
Transactions up to 7 days after the statement end date.
Matches are made by selecting transactions. As matches are made, the Summary section is automatically updated.
For convenience, clicking Match Bank Entries will automatically select any of the following transactions that fall within the statement start and end balances:
Bank feed transactions
Transactions added via file upload
When finished, click Save Changes.
Once the Matched Ending Balance equals the Statement Ending Balance (Off By = 0), you can click Reconcile to complete the statement.
Reconciled statements are locked and read-only, but can be ‘unreconciled’ if necessary.
The main Reconciliation page displays all saved reconciliations along with their current status.
Status Indicators
Green check mark – Indicates the transaction has been reconciled.
Yellow horizontal line – Indicates the transaction has not yet been reconciled.
You can filter the list to quickly locate specific reconciliations or refine the results.
From the Inbox, use the Filter button in the top-right corner to open the Edit Filter window and narrow your results.
Warnings
A warnings section will appear only when a potential issue is detected, such as:
The GL balances do not match.
There are un-posted items in the Inbox for the selected account.
Un-posted Transaction Warning
A warning will display if there are un-posted transactions that may affect the reconciliation. This includes bank feed items or transactions imported via file upload.
The warning includes a link to the Inbox, with a filter applied to display only the relevant transactions.
Transactions can be clicked and opened from this view for review or editing.
Filters can be applied to narrow the list and make navigation easier.
Validation and Safeguarding
Once a transaction is matched, it becomes non-editable, since changes could impact the current and future reconciliations.
Changing the end date or ending balance is not permitted, as these adjustments could affect the reconciliation and any subsequent ones.
Only the latest reconciliation can be removed. Prior reconciliations cannot be removed because it would impact subsequent reconciliations.
PDF Export
A reconciliation PDF can be downloaded at any stage.
The export includes:
Summary information
Matched items
Unmatched items
History Log
All reconciliation changes are recorded in the History Log, including:
Adding, updating, and removing details
Changes are also tracked within each record, allowing you to see when and to what the record has been matched.
