Reconcile and close a period

Reconciling proves your books match your bank. Closing a period locks it, so the numbers you hand your accountant stay the numbers in Cutvey. Both are part of double-entry accounting.

Reconcile an account

1. Go to Books > Reconcile.
2. Pick the bank or card account and enter the Statement date and the Closing balance from your statement.
3. Press Start reconciling.
4. Tick every line your statement shows. The Difference goes down as you go.
5. When your books and the statement agree, the difference is zero and you can finish.

A reconciliation only finishes at a difference of zero. If you need a break, come back with Continue reconciling. Finished ones are listed in History, each with a report.

Close a period

Go to Close a period in Books. Cutvey runs a checklist for the date you choose, with a link to fix each item:

• Bank and card accounts are reconciled
• No payment is waiting for its bank line
• Nothing is counted twice
• Every transaction has a category

Each item shows Done, To do or Review. When you are happy, set Close through to the last day of the period.

What closing does

After closing, nothing dated on or before that day can be entered or changed by hand. Anything Cutvey posts for an earlier day, like a late refund, lands on the first open day instead.

The closing date must be before today, so the latest day you can close is yesterday. You can also see and change it in Settings > Books under Books are closed through.

Year end

Close the year first, then download the accountant pack from Book Reports. See Give your accountant access.