XS Finance

XS Finance allows you to reconcile any account in your personal file with the latest statement from your bank. Before starting, make sure you are using the most up to date statement supplied from your bank.

To reconcile an account, select Reconcile from the Menu on the Accounts screen, then :

Select an account from the account droplist at the top of the form.
Enter the Statement Date from the paper statement supplied from your bank. This is the starting date for transactions shown.
Change the Opening Balance if it differs from that on your statement.
Generally XS Finance fills this in for you. If this is your first reconcile, you may need to enter this amount.
Enter the End Balance from your paper statement.
If your bank has charged you, enter :
- the amount of the charge
- select a category for this charge
- enter the date of the charge
If your bank has paid you interest
- enter the amount
- select a category for interest
- enter the date the interest was paid
Tap the Reconcile Button

	Marking the transactions The next screen will guide you through the transactions for the period entered above that are not already marked as reconciled. XS Finance shows the account opening balance, closing balance, cleared total and outstanding difference. You can change the reconcile status by selecting the transactions and using the left & right keys (as you can do in the Register screen), and as you change the status the amounts will be updated. To save space, XS Finance splits the transactions into payments and deposits. Select the droplist with Payment or Deposit shown to switch views. If you find a transaction on your paper statement that does not exist in your XS Finance account, select the New menu option and enter the transaction. More information on New Transactions. If you find a transaction that has an incorrect amount, select the transaction and select Edit.
	Confirmation Once you have completed the process of adding, editing and marking transactions on the reconcile screen, you select the OK soft key. If your reconciled balance and your paper end balance do not match, XS Finance can make an adjustment. If this is the case, you will be prompted with a message showing you the amount XS Finance will adjust your account by. The final screen is the confirmation screen. On this screen you see a summary of the reconcile process. It shows : - the opening balance - total inflows into the account marked as reconciled - total outflows from the account marked as reconciled - the difference between the reconciled balance and the end balance you entered - the closing balance; the balance that your account will be set to selecting update on this screen updates the transactions in the database, adds any new transactions for interest earned, service charges and open/closing difference adjustments. Finally your account is updated with the new closing balance. This balance will be used next time you perform a reconcile on this account.
	Quick Reconcile If you want to quickly mark your transactions as not reconciled, cleared or reconciled, simply select the transaction and use the left and right arrow keys to cycle through the states. The states cycle in the following order: Not reconciled – The transaction is not reconciled therefore unconfirmed Cleared – The transaction has been cleared or processed by a bank Reconciled – The transaction has been reconciled, confirmed When a transaction is marked as reconciled, the account reconciled total is updated. If the transaction was reconciled and you select to set as not reconciled, again the reconciled account balance is updated.