Starting to Reconcile Bank Accnt

[kgoodrich]

I've been using PC (V9) for a couple years now and have been reconciling our bank accounts with out using the PC Tool. I want to start using it now in 2011, so I'm needing to know how to start as far as what bank balance do I use and how to I account for last year? Does each months reconciliation stand alone or does the bank balance carry over month to month?
Thanks

[JohnDMeyers]

It carries over month to month.

If you have several years' worth of checks in PowerChurch that are unreconciled, you have two choices. 1) go back 18 months (I think that is the furthest back PowerChurch will let you go), and reconcile every month, one month at a time. (I don't recommend this one, unless you have a lot of time to spend on this)

2) Reconcile your bank statement through Dec 31, 2010 (or whatever is the closest date that your bank provides).

Go into PowerChurch and reconcile all your checks and deposits through Dec 31, 2010. You will probably be off by some amount at this point. (entries that were forgotten, typos, stuff like that).

I recommend spending a reasonable amount of time trying to settle the account to some small error. In other words, if you are off by $11,329, then try to get it down to about $200 or $20 or whatever your board is comfortable with. Once you get it "within reason", make an entry to checking and misc expense to settle the account.

Then, go month-by-month in 2011.

(I always claim that I am not an accountant, and this just about proves it! My apologies to all you accountants who never let a penny go unreconciled).