Reconciling your bank account in RakefetOnline ensures your records match your bank statement and helps keep your finances accurate and up to date.
To access Bank Reconciliation, go to Setup → Banking → Bank Reconciliation.
Select your bank account from the Select Bank dropdown, enter your statement end date, and click Run Report.
Review the Computed Balance—it should match your bank statement’s starting balance. If it does not match, stop and resolve the discrepancy before continuing. If needed, contact Rakefet Unlimited Support.
If the balance matches, enter your bank statement’s ending balance in the Statement Ending Balance field.
Transactions will appear in this order:
- Cash and check deposits (by date)
- Other payment deposits (by date)
- Non-check expenses (by date)
- Checks (by check number)
Compare each transaction to your bank statement and mark only those that have cleared.
Once all items are matched, your difference should be zero.
You can run the Bank Reconciliation Transaction Report to review cleared items. When ready, click Reconcile Tagged to complete the process.
