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- all cheques and payments that have not previously been reconciled, on the left hand side
- all receipts and credits that have not previously been reconciled, on the right hand side
- any banking and reminder adjustments that are outstanding, on the the bottom right hand side
- a summary of the cleared transactions, which also highlights the current variance
From here the user works from a printed bank statements and reconciles what movements have occurred within the trust bank account and what has been recorded in Wise Owl Legal.
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A useful function is the 'mark all' and 'unmark all' buttons. Please note that these buttons only apply to each specific type of transaction (e.g all payments, receipts or adjustments). Therefore to mark all items on the bank reconciliation, you will need to select 'Mark All' for all three categories. Further, reversals automatically remained ticked off against each other, even if the unmark all button is selected.
Each month there may be adjustments necessary. Select the adjustments button from the top of the bank reconciliation screen.
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