Bank Reconciliation
MIP supports two types of bank reconciliation processes: manual and automatic.
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Manual Bank Reconciliation is the default and available to all organizations.
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Automatic Bank Reconciliation becomes available only after you establish a bank connection under Module Setup > Connect to Financial Institution.
Learn how to Add a New Reconciliation.
Lock & Unlock Reconciliations
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Lock - Once the Unreconciled Difference is $0.00 for the cash account you're reconciling, use the Lock button to record a historically accurate record of the reconciliation. This should be done once you're sure that subsequent activity will not affect the reconciled Book Balance. Note that a Suspense Item cannot be deleted if contained in a Locked Reconciliation ID.
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Unlock - Use the Unlock button to unlock a previously locked reconciliation.
Delete Reconciliations
Before deleting a reconciliation, ensure you’ve selected the correct record you want to remove from the system. Deletion is permanent and cannot be undone.
