How to Reconcile and Close a Cash Account
This is the detailed walkthrough for a single cash account: matching it to your bank statement, fixing anything that doesn't line up, and closing it so it's locked for the period. For the full...
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This is the detailed walkthrough for a single cash account: matching it to your bank statement, fixing anything that doesn't line up, and closing it so it's locked for the period. For the full period-close picture, start with Closing an Accounting Period.
Applies to: Managers with accounting settings access. Anyone with GL view access can open an account's workspace and look around, but reconciling, booking journal entries, and closing require manager-level access.
Open the account's workspace
From the Periods list, find the account you want to work on and click Balance & close. This opens that account's workspace for the period you're closing.
Check the readiness panel
At the top of the workspace, a readiness panel shows three things:
- This account's current reconciliation difference
- The property's Suspense (1900) balance for the period
- Any draft journal entries still sitting in the period
All three need to be clear before you can close the account. If one of them isn't, see What's Blocking My Period Close? for exactly how to resolve each one.
Match your bank lines
The workspace shows suggested matches between your bank statement lines and what's already in your books. Review and confirm the matches URBI suggests. Anything left over after matching is what's driving your difference.
Fix what doesn't match
For anything that doesn't match, you have three tools:
- Add JE: book a new journal entry to record something missing from your books (for example, a bank fee you hadn't entered yet). If you can't immediately tell which account a difference belongs to, you can book it to the Suspense account instead of guessing. See Understanding the Suspense Account (1900).
- Correct: fix an existing entry that was booked to the wrong account or amount.
- Void: reverse an entry that shouldn't have been posted at all.
These are the same Correct and Void actions you already use elsewhere on the GL, so nothing new to learn there.
Mark reconciled
Once this account's difference reaches $0.00, the Mark reconciled button becomes enabled. Click it. This confirms the account matches your bank statement, but it does not close the account yet: the account's status chip turns green (Reconciled), and you can still book entries to it.
Close the account
Close account only becomes enabled once all three readiness checks are green: this account's difference is $0, the property's Suspense balance is $0 for the period, and there are no draft journal entries left in the period.
Clicking Close account opens a confirmation dialog that lists what happens next. Confirm, and URBI locks the account: its status chip turns gold (Closed), and you'll see a success message.
What happens after you close an account
Once an account is closed for a period:
- No new entries can post to that account for that period. If something tries to (for example, an automated posting with no explicit date), it rolls forward into the current open period instead.
- Entries that were already posted stay exactly as they are.
- A posted entry on a closed account can still be corrected going forward, but it can't be soft-voided while the account is locked. If you need to void something on a closed account, you'll need to reopen the account first. See How to Reopen a Closed Period or Account.
If your property is on PREMIUM with a connected bank feed, you may also see AI-suggested entries to help clear your difference faster. See AI Assist for Balancing Your Accounts.