Post Bank Reconciliation

Accounting
1

Hi. I have just successfully reconciled the company bank statement to the Nominal (1207) Bank Account for the period 01.04.19 to 31.07.20 (it had not been done before I started working freelance for the company). Quickfile has come up with a message PERFECT! and I then pressed go. Is that all I need to do? I noticed nothing has changed on the tagging list and it is the same as it was before reconciling. Can I lock the date of 31.07.20 so that nothing gets posted in error to the tagging list prior to this date.

2

Hi @DerekC

There are 2 ways a transaction may be locked:

  • As a result of a VAT return
  • As a result of an account lock (either custom or at year end)

Both of which are outlined briefly here. Unfortunately, there isn’t a way to lock a transaction after reconciling, but you could certainly enforce an account lock.

Hope that helps but if you have any further questions, please don’t hesitate to ask.

3

Thanks Sian - much appreciated
Would I be right in thinking that if the message ‘PERFECT’ comes up after reconciling then I don’t need to do anymore and carry on as before with tagging for August. Is there any printouts/enquiries I need to do for the accountants re the bank reconciliation to show I’ve done it ?

4

Hi @DerekC,

You are correct :slight_smile: There is also no need to prove that you have done the reconciliation, so nothing to print out

5

Brilliant - thanks very much

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