Objective: Simulate reconciling a monthly bank statement including a service charge.
1. Start: Go to Transactions > Activities > Bank Reconciliation.
2. Setup:
◦ Select your “Operating Checking” account.
◦ Set the Reconcile as of date to the end of the current month.
◦ Enter a Bank Ending Balance that is $10.00 less than your current book balance (to simulate a service fee).
3. Clear Items: Check the boxes for all transactions listed (assuming all have cleared). notice that the Difference is likely $10.00.
4. Add Fee:
◦ Click ADD ADJUSTMENT.
◦ Select Checks and Payments (Credit).
◦ Amount: 10.00.
◦ Account: Select “Bank Service Charges” (or similar expense).
◦ Click OK.
5. Verify: Check the Difference field. It should now read 0.00.
6. Finish: Click Finalize and then OK.
7. View Report: Click the Reports button on the reconciliation toolbar to view the PDF history of the reconciliation you just created.