We recommend reconciling your bank accounts once a month to ensure that your internal balance or In PayHOA balance stays correct. Below are steps on how to reconcile your bank accounts in the PayHOA.com system.

Step 1: Click on the Reports tab.

Step 2: Select Bank Reconciliation under Business Overview Reports.

Step 3: To start a new reconciliation, select Reconcile Bank Account.

Step 4: In the Select An Account dropdown box select the bank account that you are reconciling.

Step 5: Select the starting date and ending date based on the time period you are reconciling, usually per month. We recommend that you set these dates exactly as they are seen on your bank statement, however, you can select any range that you'd like.

Step 6: From your bank statement, type in the starting balance and the ending balance.

Step 7: Click the blue Begin Reconciling Account.

Step 8: Going from the top of your bank statement to the bottom, make sure each transaction on your bank statement is showing in PayHOA. Any transactions that matching, you must check them to change that checkmark from gray to green. Green check marked items will calculate in the difference amount at the top. Grey check marked items will not.

Step 9: If you are missing any transactions, toggle on the All transactions option to see all unreconciled transactions attached to the account you are reconciling. This will show you transactions outside of your selected date range. Usually, if a transaction is missing it is just falling outside of the date range selected.

Step 10: If the transaction isn't in the system at all, then add it by clicking Add Transaction and filling out the information. That transaction will then appear in the reconciliation.

Step 11: Any items that appear in your PayHOA bank reconciliation screen, but not on your bank statement, investigate to see if they belong with another bank account or fall in a different bank statement period. Leave these items with a grey check mark. Then correct those when you finish your bank reconciliation. Any that don't belong can be changed or deleted afterward. If there is a transaction that you are absolutely sure is a duplicate and should not be there you can select the checkbox to the left of it, and then select Delete.

Step 11: Once everything matches, the top amount should say $0.00 Difference and you will be able to click Finish Reconciliation. You will then be able to view the reconciliation report or view it later if you prefer. Keep in mind, If you do not have a $0.00 difference, then something is not matching and you will not be able to click the Finish Reconciliation button.