Resolving Bank Rec's can potentially involve a large amount of extra work, as you may have to undo months of statements to resolve.
A quicker alternative to reconcile accounts is to transfer funds between bank accounts.
To transfer funds between your back accounts;
- Go to Finance - Credits and Transfers
- Choose Transfer between bank accounts
- Select the From and To accounts, enter the amount, date and a reason for the transfer.
- Click Add to record the transfer
The Interim Clearing Account will be used to enable the transfer between bank accounts.
Banking and payment transactions will be recorded to your database as at the transfer date.
Using this method to record funds transfers between accounts will avoid possible reconciliation and control account issues.