To validate a statement, on the Bank statements page, click Validate. Bank statements must be validated before they can be reconciled. This step is automatically completed if you set the Reconcile after import option to Yes at the time of import.
Bank statement validation verifies the following details:
The bank statement matches the selected bank account.
The bank statement currency matches the bank account currency.
The opening balance of the statement equals the closing balance of the previous statement for the bank account.
The date doesn’t overlap the date for another bank statement for the same bank account.
There are no gaps in the dates for statements for the bank account.
Dates on the statement lines are between the from-date and to-date of the bank statement.
The opening balance and summarized line amount equal to the ending balance.
When the validation is completed, the status of the bank statement is updated to Validated. A bank statement must be validated before it can be reconciled.
