Perform a Trust Reconciliation
This tutorial will walk you through the steps to perform trust reconciliations in TrustBooks.
- From the Navigation Pane, select RECONCILIATIONS.
- Under the RECONCILIATIONS drop-down menu, select View Reconciliation.
- The View Reconciliations page is displayed. Select the Bank Account for the reconciliation you wish to complete, then select Create Reconciliation.
- Enter the Ending Date and Ending Balance from your most recent bank statement.
- Compare the Bank Statement to the transactions on the Create Reconciliation Page. Click the Check Box next to each withdrawal and deposit in TrustBooks that appears on the Bank Statement. This indicates the transaction has Cleared the Bank Statement.
Transactions highlighted "BLUE" are considered to have "CLEARED" the bank statement and are totaled on the Cleared Total Withdrawals and Cleared Deposits Lines. These cleared amounts should match the total payments and deposits on your bank statement.
- Ensure that the Difference in the Reconciliation Summary is zero.
If the difference is not 0, you have not properly reconciled. The indicator bar will be pink and will say 'Not Ready to Reconcile'.
When the difference is equal to 0, the indicator bar will turn green and will say 'Ready to Reconcile'.
- Click the Save & Finalize button to complete the trust reconciliation.
If you would like to save your progress to complete the reconciliation at a later time, click the Finish Later button.