NOTE: When posting to Jewel, the total in the bank accounts and the total in the local funds has to always match. When you record savings interest in Jewel, you are not moving it, just recording it. As your savings account grows because interest is being added, your local funds have to grow by the same amount, in order to keep things equal.
Savings accounts such as from a bank, a CD, or a Revolving Fund need to be reconciled regularly. The steps are the same, even though the process is simpler. Here are some tips for success, before you start.
NOTE: If the beginning and ending balances are correct, and the only activity on the statement for that period has been the interest added, then the “Difference” will equal the total interest amount. You can use that figure to enter a quarterly or 6-month interest total.
NOTE: If you are reconciling for a month that has already been closed, Jewel will let you know that the date is outside the current period, and that the date will be changed if you continue. That is fine, click "OK."
NOTE: Transfers to and from bank accounts such as from checking to savings or debit can be a bit of a challenge to reconcile. The amount transferred will show up as a minus number in one of the accounts, which looks confusing, but if you click it off, it will achieve a zero difference.
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The original version of this page was provided to Jewel by the Georgia-Cumberland Conference Audit Team. Created by Linda McCabe.