Chapter 8

Reconciling Your Bank Accounts

In This Chapter

arrow Getting ready to reconcile

arrow Ticking off your correctly matched transactions

arrow Looking at transactions that don’t seem to match

arrow Making use of the Cash Coding spreadsheet

arrow Going through your imported bank statements and locating transactions

arrow Accessing Spend Money and Receive Money functions

arrow Knowing how to correct your mistakes

R econciling your accounts involves matching cash movements from your bank statement with transactions recorded through Xero. Reconciling on a regular basis is an essential part of ensuring the accounting records portray an accurate reflection of your business finances — you don’t want to waste time entering reams of incorrect data and producing gobbledegook. Instead, you want to produce accurate information such ...

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