Bank Reconciliation Details

Bank Reconciliation InfoDetails/PurposeHow to check it
Bank BSBThe BSB of your trust account (eg 085-456)Check your trust account details with your bank
Bank AcctThe account number of your trust account (eg 123456789)Check your trust account details with your bank
Trust RentThe sum of all of the landlord balancesPrint a landlord trial balance and then check for missing or incorrect receipts and/or expenses using the audit trail reports
Trust BondThe sum of bond held in trust amounts for all tenantsPrint a bonds held in trust report and a bond transactions report (both from the reports menu) then check what bonds you have receipted and paid to the tribunal
Pending EFTPayments made from Rent Master which have yet to be sent to the bankPrint a pending EFT report
UnPresentedThis is simply a list of transactions which have not yet appeared on your bank statement. When you indicate that a transaction has been presented then it is deleted from this listPrint an unpresented cheque list and make sure that none of the listed transactions has appeared on ANY bank statement. Check your previous unpresented cheque report and make sure that any transactions which are on the previous report but not on the current report HAVE appeared on your recent bank statement (that is you haven't incorrectly marked an unpresented transaction as having been presented)
UnPrintedThe sum of all cheques which have been entered but not yet printedPrint an Unprinted Cheque report and/or print any unprinted cheques. If you have cheque printing turned off then this should always be zero. If you don't print cheques but you have a figure in this section then you must have turned cheque printing on by mistake so print the cheques onto blank paper and then turn it off
UnDepositedThe total of all receipts which have yet to be bankedPrint a bank deposit slip. If you have already banked the amounts on the report then clear the bank deposit slip
Calculated BalanceThe total of all of the previous totalsIf incorrect then one, or more, of the previous totals must be incorrect so check each of the previous totals
Actual BalanceThe amount that you manually enter at the start of the Bank Reconciliation processMake sure that this is the closing figure on your latest bank statement - click on the BANK BAL button to change it if incorrect
Balance ErrorThe difference between the calculated balance and the actual balanceif this is not zero then one or more of the previous totals must be incorrect - check them