In this phase, you will learn how to complete a Bank Reconciliation. The time and diligence you spent in the Money In and Money Out Phases will pay dividends in this phase.

Phase Goals

• Understand how Undeposited Funds work (Bank Deposits)
• Understand the difference between a Bank Expense and an AP Payment
• Understand Bank Activity and how it relates to the Bank Reconciliation
• Complete a Bank Reconciliation and reconcile it against the Balance Sheet
• Timeline: 2-3 weeks

Advanced Topics

• Bank Activity Options
• Bank Rules
• Bank to GL Reconciliation 

What to prepare for next?

• Transitioning to the Adoption Phase

Additional Resources

• Bank Account Record
• Direct Bank Connection
• Multifactor Authentication
• Importing Bank Activity
• Transaction Matching
• BAI - Bank Account Import