Bank Reconciliation: Difference between revisions
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Best practice is to reconcile monthly before closing the month. This allows you to catch mistakes or omissions when they are easiest to correct. However, if you cannot reconcile during your month-end closing for some reason, you may do so at any point during the monthly process of any future month by clicking Reconcile on the Jewel Home Screen. Keep in mind, though, that postponing or skipping reconciliation means that your Jewel records may not accurately reflect what has happened at the bank. Also, there is usually a strict time frame for reporting fraudulent transactions. So reconciliations should always be completed as soon as possible after receiving the bank statement. | Best practice is to reconcile monthly before closing the month. This allows you to catch mistakes or omissions when they are easiest to correct. However, if you cannot reconcile during your month-end closing for some reason, you may do so at any point during the monthly process of any future month by clicking Reconcile on the Jewel Home Screen. Keep in mind, though, that postponing or skipping reconciliation means that your Jewel records may not accurately reflect what has happened at the bank. Also, there is usually a strict time frame for reporting fraudulent transactions. So reconciliations should always be completed as soon as possible after receiving the bank statement. | ||
The links below will answer your Bank Reconciliation-related questions | The links below will answer your Bank Reconciliation-related questions. | ||
==Basic Info and Quick Start== | |||
[[Why Are Bank Recs Important?]] | [[Why Are Bank Recs Important?]] | ||
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[[Media:3510_-_Tour_of_the_Reconcile_Features_in_Jewel.pdf|Pictorial Tour of Jewel's Bank Reconciliation]] | [[Media:3510_-_Tour_of_the_Reconcile_Features_in_Jewel.pdf|Pictorial Tour of Jewel's Bank Reconciliation]] | ||
==Reconciling Specific Types of Accounts== | |||
[[Reconciling the Checking Account]] | [[Reconciling the Checking Account]] | ||
[[Media:3530_-_Reconciling_the_Debit_Account.pdf|Reconciling the Debit Account]] | |||
[[Media:3540_-_Reconciling_the_Savings_Acct.pdf|Reconciling the Savings Acct]] | |||
[[Setting Up and Reconciling a CD Account]] | [[Setting Up and Reconciling a CD Account]] | ||
==Adding Specific Types of Transactions== | |||
[[Entering Bank Account Interest]] | |||
[[Electronic Payments - Timing, Dates, Memos]] | [[Electronic Payments - Timing, Dates, Memos]] | ||
==Troubleshooting== | |||
[[Where Did My Reconciliation Go?]] | [[Where Did My Reconciliation Go?]] | ||
Latest revision as of 13:00, 21 November 2025
The Bank Reconciliation is an essential part of treasury work. Its purpose is to verify that your records in Jewel agree with what is actually happening in your bank account. Reconciling makes sure that you entered all transactions in Jewel and that you entered them correctly, as well as giving you a chance to catch any errors the bank may have made, or any fraudulent transactions.
Best practice is to reconcile monthly before closing the month. This allows you to catch mistakes or omissions when they are easiest to correct. However, if you cannot reconcile during your month-end closing for some reason, you may do so at any point during the monthly process of any future month by clicking Reconcile on the Jewel Home Screen. Keep in mind, though, that postponing or skipping reconciliation means that your Jewel records may not accurately reflect what has happened at the bank. Also, there is usually a strict time frame for reporting fraudulent transactions. So reconciliations should always be completed as soon as possible after receiving the bank statement.
The links below will answer your Bank Reconciliation-related questions.
Basic Info and Quick Start
Quick Start Guide to Bank Reconciliations
Quick Start - Adding Missing Transactions
Pictorial Tour of Jewel's Bank Reconciliation
Reconciling Specific Types of Accounts
Reconciling the Checking Account
Setting Up and Reconciling a CD Account
Adding Specific Types of Transactions
Entering Bank Account Interest
Electronic Payments - Timing, Dates, Memos
Troubleshooting
Where Did My Reconciliation Go?