The Reconcile & Reset function does a journal to zero out all the account balances for the selected Organisation, and creates a bank reconciliation as at the Effective Date entered to reconcile all unreconciled transactions. It also verifies any unverified bank reconciliations with a Variance of $0 that may exist.
Note, if a future period has transactions posted in it e.g. an eGiving transaction, a Reconcile & Reset cannot be done.
| 1 | Make sure the Current Period is closed. |
| 2 | Go to the Admin menu, then click Reconcile and Reset. |
| 3 | Select the effective date that you wish to reset the entity to. This should be dated after the last period that was closed. |
| 4 | Click Reset. |
| 5 | Clock OK to confirm. |
| 6 | Then Re-open the Period
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The Reconcile & Reset clears out (does a balancing journal) all transaction balances/totals from all income, expense, asset, liability and equity account types. You could choose to do this adjusting journal yourself; this function simply automates the process.