Enumerate Setup Guide: Bank Accounts & Statement Reconciliation

Set up each HOA bank account in Enumerate as its own bank record, link it to the correct General Ledger cash account, enter the opening balance, then reconcile monthly by matching imported (or entered) bank transactions to deposits, payments, and transfers until the difference is $0 and the reconciliation is closed. If everything is already set up, the main job is verifying the GL links, importing the statement period, matching items, and fixing duplicates or timing issues before closing.

 

Before starting (quick checks)

 

• Know the account purpose: Operating, Reserve, or Special Assessment. Each should reconcile separately.
• Have the bank statement: start date, end date, ending balance.
• Confirm permissions: user role must allow bank setup and reconciliation.

 

Bank account setup in Enumerate

 

• Locate banking setup: go to the Accounting/Banking area and choose Bank Accounts (wording varies by configuration).
• Add a bank account record: enter bank name, last 4 digits, and account type (Operating/Reserve).
• Link to the correct GL cash account: this is the most important step. The bank record must point to the matching cash GL (example: “1000 Operating Cash”, “1010 Reserve Cash”).
• Set the opening balance: use the bank balance as of the start date you will begin reconciling. If converting from another system, use the conversion date balance.
• Set up transfers correctly: transfers between Operating and Reserve must post as a transfer (cash to cash), not income or expense.

 

Monthly reconciliation workflow

 

• Start a new reconciliation: select the bank account, enter statement start/end dates and the statement ending balance.
• Bring in transactions: import bank activity if available; otherwise enter statement lines manually (date, amount, description).
• Match transactions: pair each bank line to an existing payment, deposit, fee, or transfer in Enumerate.
• Clear items: mark matched items as cleared. The goal is Difference = $0.
• Close the reconciliation: only close when the difference is zero and all unusual items are explained.

 

Common setup mistakes (and fixes)

 

• Wrong GL link: if the bank account points to the wrong cash GL, reconciliation will never tie out. Fix the link, then re-run the reconciliation.
• Duplicate entries: importing bank lines and also posting manual payments creates doubles. Delete or void the duplicate (do not delete posted history without policy approval).
• Transfers posted as expenses: reclassify to a transfer between cash accounts.
• Beginning balance off: adjust using a properly documented journal entry or opening balance correction per accounting policy.

 

Troubleshooting when it won’t reconcile

 

• Difference equals a known bank fee or interest: post a bank charge or interest entry to the correct expense/income account, then clear it.
• Timing issue: checks or ACH not cleared yet should remain uncleared until next month.
• One transaction won’t match: search by amount and date range; confirm it wasn’t posted to a different bank account.
• Reconciliation already closed with errors: follow your organization’s controls for reopening; document the reason and approvals.

 

If everything is already set up (best-practice routine)

 

• Reconcile monthly within a few days of statement close.
• Attach the statement and reconciliation report to the month’s records.
• Review uncleared items older than 60–90 days and investigate.
• Run a Balance Sheet after closing to confirm Operating and Reserve cash match reconciled balances.

 

When to contact Enumerate support or get advanced help

 

• Bank/GL mapping is unclear or cash accounts were created incorrectly.
• Need to reopen closed periods and your controls require vendor guidance.
• Conversion issues where opening balances and historical transactions do not align.