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The most important decision regarding the closed transaction reconciliation is the following setting on the each Bank Account Configuration:

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There are 2 3 options here:

1. Only link the transaction to the statement, which only adds the link to the bank statement, but does not change anything on the transaction.

2. Link the transaction and change the date to the date on the statement - because the date is change, this option automatically triggers change of exchange rate respective for the new date, amount and the cheque number.

3. Link the transaction and change only the GL account if an IN TRANSIT ACCOUNT is configured - this selection will only initiate a GL account change, without changing the transaction date.

2. Payment-in-transit or Undeposited funds account in use?

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