Reconciling an account, down to zero
Reconciling means checking that the balance in Allotti is the same as the one at the bank. You do not need to do it often: it is what lets you trust the numbers you see.
The sentence that describes it
Write the balance you see at the bank and clear the transactions you find on the statement, until the difference reaches zero.
An example with the November numbers
On 12 November the electricity bill for Milan, €110.00, leaves the bank account. The bill is already in the account register, but you have not cleared it yet. When you write the bank balance, the app tells you:
Clear the bill and the difference goes to zero: Reconcile becomes active and you can reconcile the account.
When the balance does not match
If the difference does not reach zero, you balance it by adding or clearing the missing transactions: add the one that is missing from the new line at the top of the register, or clear one that is already there.
The adjustment is the last resort. The "I cannot make it match" link only offers it when the difference is not zero, and it creates it only if you confirm. Use it when you cannot find the missing transaction.
Edge cases
- An incomplete transaction. Only a complete transaction can be cleared: complete it first, then clear it.
- A different date. "Up to the date" is today by default. With an earlier date only the transactions cleared up to that date are reconciled.
- A transaction already reconciled. If you change it, Allotti asks for a confirmation.
- A closed account. A closed account is not reconciled: to close it the balance must be zero.
Where to see it in the app
On a computer, open Accounts and choose the account: Reconcile is in its header.