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:
- Go to the Banks and Registers Tab under the Accounting section.
- Click "+" and select "Bank Account Reconciliation"
- A window will open asking for:
- The Bank Account you would like to reconcile.
- The Ending Balance is provided in the Bank Statement (You will be able to edit this later on)
- The Ending Date is provided in the Bank Statement
- Starting Balance is the amount unreconciled from all the previous reconciliations
- 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."
- You will not be able to add reconciliations after the date of the most recent reconciliation report.
- If a transaction is reconciled and then edited it will be unreconciled and need to be added back to the reconciliation report.
- 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.
How Do I Link My Bank and Credit Card Accounts to Zola Suite?
By linking your bank or credit card you will download all account records into Zola Suite and have the ability to pull up-to-date reports and clear/match all your transactions. Go to the Accounting section and select Banks & Registers. Select View ...
How Can I Edit a Bank Reconciliation?
Sometimes while creating Bank Reconciliations you may make a mistake, confuse one transaction for another, and have to go back to update. If you need to make any changes to an existing reconciliation, you can do so by Going to the Reports tab of ...
What is the Account Reconciliation Report?
The Account Reconciliation Report is used to ensure that both your Zola Suite Register and your bank account transactions are in agreement. To start the reconciliation, click the + sign in the top right hand corner of the report header. Here, you ...
How Can I Set Up My Credit Card Accounts Within My Zola Suite Account?
Zola Suite has an Accounts page where all Bank and Credit Card Accounts are located. This page can be found by: Going to the Accounting section Click on the "Banks & Registers" tab On the top green action bar click "View Bank Accounts & Credit Card ...
How Do I Set up Opening Balances in Zola Suite?
Zola Suite has built in accounting to track all your accounts and provide reports. Before you begin recording transactions in Zola Suite, you will want to bring over your books by recording opening balances. Before you begin, make sure that your ...
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