What is the Account Reconciliation Report?
To start the reconciliation, click the + sign in the top right hand corner of the report header.
Here, you will select the bank account you wish to reconcile within Zola Suite (dropdown) and enter the bank account ending balance as of the ending date. The starting balance will populate automatically using your last reconciliation's ending balance.
This will then bring you into a screen that will allow you to specify the date range of transactions you are going to reconcile. You then must check off anything that has been cleared or will be cleared (within your specified date range) on the bank end. If everything is properly recorded in Zola, your Zola books and your bank account should be in agreement, giving you a $0 difference.
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 ...
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 ...
What Is the Difference Between Reconciling and Clearing?
In Zola Suite you can Reconcile or Clear transactions to check if the records in your bank/credit account match your Zola Suite records. Reconciliation works with both trust and operating bank accounts but not credit cards accounts. In Zola Suite, ...
What is a Three-way Reconciliation Report?
A Three-way Reconciliation Report is a report that compares your Bank Statement balance (you enter this in), Book Balance in Zola Suite and the Client Ledger Balances in Zola Suite. Running this report is a great way to catch discrepancies and ensure ...
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 ...
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