Does Zola Suite handle bank reconciliations?

Does Zola Suite Handle Bank Reconciliations?

If you want to ensure that all of the balances for your trust or operating accounts are accurate, you can utilize our Bank Account Reconciliation feature. This will confirm that the bank balance, book balance in Zola Suite, matches your Financial Institution's bank account statement balance by matching that period's transactions.

To reconcile your Bank Accounts:
  1. Go to the Banks and Registers Tab under the Accounting section.
  2. Click "+" and select "Bank Account Reconciliation"



  3. A window will open asking for: 

    1. The Bank Account you would like to reconcile. 
    2. The Ending Balance is provided in the Bank Statement (You will be able to edit this later on)
    3. The Ending Date is provided in the Bank Statement
    4. Starting Balance is the amount unreconciled from all the previous reconciliations



  4. Once you fill in the required fields and click "Reconcile", you will be shown the balances and the transactions that have been cleared. You can check off any transactions that have cleared, and they will be added to the "Reconciled Balance."

  1. You will not be able to add reconciliations after the date of the most recent reconciliation report.
  2. If a transaction is reconciled and then edited it will be unreconciled and need to be added back to the reconciliation report.
  3. When you create a reconciliation report the starting balance is generated and stored for that report at the time of generation. It will not update based on changes of previous reconciliation reports.

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