Reconciling your bank account in NexerIQ

Reconciling your bank account in NexerIQ

What reconciling means

Reconciling is simply checking that your records agree with your bank. You match each line on the statement to a record in your books, then balance to the statement's closing figure. It's how you catch missed entries, bank fees, and the occasional error — and it gives you real confidence in your numbers.

Starting a reconciliation

  1. Open the account under Banking → Bank Accounts.
  2. In the Reconciliations section, choose Start Reconciliation.
  3. Enter the Statement Date and the Statement Closing Balance from your bank statement, then start.

Working through the lines

On the imported statement, NexerIQ has already matched everything it could. Your job is the lines still marked Unmatched. For each one you can:

  • Manual Match — link the bank line to the right record in your books by entering its Ledger Entry ID. The line then shows as Manually Matched.
  • Exclude — set the line aside if it's a duplicate or doesn't belong; it shows as Excluded.

Lines NexerIQ matched on its own appear as Matched and need no action.

Balancing the reconciliation

Open the reconciliation and fill in the figures:

  • Book Balance — your records' balance as at the statement date.
  • Outstanding Deposits and Outstanding Payments — amounts recorded in your books but not yet on the statement.

NexerIQ calculates the Adjusted Balance and shows the status as Balanced once it equals the Statement Closing Balance. Choose Save Balances to keep your work as you go.

Completing

When the status reads Balanced, choose Complete Reconciliation. The reconciliation is then marked Completed and locked — a permanent, trustworthy record of that period. Until then it stays In Progress.

How often?

Most businesses reconcile each account monthly, when the statement arrives. Reconcile in date order, little and often, and surprises stay to a minimum. If you can't get to Balanced, see Fixing unmatched and excluded bank lines.

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