New User - Bank Reconciliation mid way fiscal year

drlarchdrlarch Member Posts: 1

Hello, I am a new user who has just transferred from Simply accounting to Wave mid way through my fiscal year. The fiscal year started in Sept and transactions have been entered up to Nov in the simply system. I would now like to begin entering transactions starting Dec 1. So I will be recording transactions as of Dec 1.

When I go to the bank reconciliation page, I notice that there are options to reconcile Sept bank statements, etc. but there are no transactions for these earlier months, and they have already been recorded in Simply, and I have entered my Trial balances in Wave as of Dec 1.

So the question how to reconcile the bank for these earlier months with no transactions, or do I just ignore them and rely on the trial balances.

Thanks in advance for any assistance.

Comments

  • JamieDJamieD Administrator Posts: 448 admin

    Hey @drlarch. The only reason you would see reconciliation for those months is either A) Because of a starting balance that would have been associated with that date, or B) There are in fact, transactions associated with the specific account you are trying to reconcile in Wave (under the transactions list). My suggestion is that you go to the Account Transactions report, and ensure that there are no transactions/there isn't a starting balance associated with the dates for the months you do not want to reconcile, that way you can start directly on December 1st.

Sign In or Register to comment.