Using Reconciliation for the First Time

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I have entered all of my bank transactions into QuickFile and now want to carry out a reconciliation against my bank statements.

I am not clear on what I should enter as the Starting Balance and Ending Balance.

Can you help?

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Hi @SueRichardson

The starting and ending balances would typically be taken from a bank statement.

But the starting balance would be the balance as of the start of the first day, and the ending balance would be the balance at the end of the last day.

For example, if you have a statement for 15th January 2020 - 25th January 2020, the opening balance would be the balance at close of business on 14/01/2020, and the ending balance would be the balance at close of business on 25/01/2020.

Hope that helps!

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