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Bank Reconciliation

Bank reconciliation means comparing the account balance of your records with the balance at the Caisse populaire’s records, and being able to explain any discrepancy.

What do you need to do your bank reconciliation?

  • An Internet connection.
  • The AccèsD service; you do not have to be signed up for the monthly statement.
  • A text tool, spreadsheet or personal finance software (Quicken 2010 or later).

How it works

If you manage your finances:

Manually

Select a statement. View the statement on-screen and print it if needed by pressing the Print button on your browser’s toolbar.

With a text tool, like a word processing program

Select a statement. You may download the statement in text (TXT) format; then, import it into your text tool and conduct your reconciliation as usual.

With a spreadsheet (e.g., Lotus, Excel) or a data base (e.g., DBase, Access)

Select a statement. You may download the selected CSV file and then import statement into your text tool and complete your reconciliation as usual.

With a personal finance software program (e.g., Quicken)

Select the Bank Reconciliation feature. The file produced will be recognized by your software, which will reconcile your transactions online.

Reconcile your Caisse accounts

Caisse accounts

Click on the Statements and documents icon in the right-hand menu and select Bank reconciliation under More options.

Did you know?

Any difference in balances is often due to a delay from when the transaction was entered in your records and when that transaction shows up in your caisse’s records, as is the case for outstanding cheques, collection of service charges and interest payments.

Features

Accessible at all times

You may conduct your bank reconciliation at any time, since you are the one who selects the dates to do so. However, you should take care not to include transactions made the same day. Since a certain amount of computerized processing is done at night, it is preferable to wait until the next day to make sure you have included all the daily transactions. If you do not wait until the following day, certain transactions might never be transmitted to your personal finance software. Generally speaking, the best time to conduct your bank reconciliation is after the caisse’s monthly closure.

Day on which the month ends Night on which the caisse will close off its month
Sunday Saturday to Sunday
Monday Monday to Tuesday
Tuesday Tuesday to Wednesday
Wednesday Wednesday to Thursday
Thursday Thursday to Friday
Friday Saturday to Sunday
Saturday Saturday to Sunday

Questions about Quicken

Any questions having to do with Intuit’s Quicken software program should be addressed directly to the Intuit company, at 1-877-844-1515.

Important: Bank reconciliations using Online Banking Booster are supported by Quicken. Should you have any questions, contact Intuit at the above-mentioned phone number.
Visit the Intuit website.

 

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