What Is the Difference Between Reconciling and Clearing?

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, you will be able to generate a copy of the bank statements from your banking institution by matching the transactions found in Zola Suite to the transactions found in the bank statement. In the end, the totals and transactions of the Bank statements should match the generated Bank Reconciliation Report in Zola Suite. 

Clearing on the other hand works with any credit card, or bank account that Zola Suite can download activity from. This feature matches up every individual transaction between your financial institution and Zola Suite.

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