Reconciliation is an accounting process where you match two sets of records to check that figures are in sync and are tallying. Reconcile means ensuring the balances of an account are matching from the money paid through a bank account or cash.

Reconciling on Open is easy.

a.Go to ‘Purchase' from the left-hand side panel, and then click on the ‘Reconcile’ tab.

b.Here select the 'Bill or Credit note that you wish to reconcile from the drop-down menu on the left-hand side.

c.Once you select one of the Bills or Credit notes, then choose if you want to add the amount from a specific bank account or as cash.

d.Then based on the amount received, you can reconcile the Bill or Credit note.