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Bank Reconciliation
Overview#
Transactions can be reconciled to ensure their accuracy. Every bank account can be reconciled as often as needed.
Navigation Main Menu > Accounting > Bank Reconciliation
Settings#
User Settings#
Navigation Main Menu > Office > My Organisation > Double-click to open a Staff File > Settings (tab)
Note The defaults are the values for new databases and new users. Your database may have different values.
Setting Description Default
Accounting > Bank Reconciliation - Access Allowed None
Status Settings#
Navigation Main Menu > Setup > Accounting > Entry Types (tab).
For each Entry Type that posts to a bank account > double-click the Entry Type to edit it. Reconcile must be selected from the dropdown list in the Default column for a Completed Status .If this status is not set, you cannot add transactions to the Bank Statement column when doing a bank reconciliation. List View#
Info The List View displays a summary of Bank Reconciliations.
Button Description Reset Resets the Data Filters to default. View Generates a list of bank reconciliations based on the selected data filters. New Creates a new Bank Reconciliation. Output Output PDF documents. Options include Print, Preview and Email. Menu Save Grid Save Grid (All Users) Restore Grid Restore Default Grid Restore Default Grid (All Users)
Data Filters Explained#
Filter Description Set Sets a specific time frame such as Today, This Month, This Year, Fin Year. ← → Adjusts the date in the direction of the arrow. Date Lets you refine the date selection. Bank Dropdown list from which a Bank Account can be selected. Status Dropdown list to filter transactions that have a Pending or Complete Status.
Fields Explained#
Field Description ID The system-generated number allocated to the entry. Status The Status of the bank reconciliation. Date The date selected for the bank reconciliation. Account The Bank Account that was reconciled / is being reconciled. Statement The bank statement's balance that was entered. Dr Uncleared The value of uncleared debit transactions. Cr Uncleared The value of uncleared credit transactions. Adjusted The total of items marked as reconciled. Ledger The balance of the bank account in the Ledger. Variance The difference between the Adjusted and Ledger columns. Note Any notes entered on the bank reconciliation. Menu (...) A submenu to Edit or Delete a bank reconciliation.
Edit View#
Info Edit View refers to the interface from which a bank account is reconciled.
Button Description ∧ ∨ Used to scroll through transactions. Status Used to update the status of the Bank Reconciliation. Output Output PDF Templates (e.g. VAT Summary). Options include Print, Preview and Email. New Creates a new Bank Reconciliation. Save Saves or Refreshes (recalculates) the information. Done Sets the Bank Reconciliation to a Complete Status. Delete Deletes the Bank Reconciliation. Menu Email Excel Outstanding: Emails a list of outstanding transactions (transactions that were not cleared).Bank Statement: Emails a list of cleared transactions.Layout Save Grid Save Grid (All Users) Restore Grid Restore Default Grid Restore Default Grid (All Users) Add Adds a transaction to the Bank Statement. Remove Removes a transaction from the Bank Statement.
Field Description Status The status of the bank reconciliation. Account The Bank Account being reconciled. Date The Reconciliation Date which should be the last date on the bank statement. Balance as per bank statement Enter the balance on the bank statement as per the date selected. Debit transactions not cleared A running total of all uncleared debit transactions. Credit transactions not cleared A running total of all uncleared credit transactions. Adjusted Bank Balance The sum of all cleared transactions. Ledger Balance The ledger balance of the selected bank account. Variance The difference between the Adjusted Bank and Ledger Balances.
Fields Explained: Outstanding#
Field Description Field Chooser (*) Lets you add or remove columns. ID The system-generated number allocated to the entry. TransID The Entry Type specific ID of the original transaction. Status The Status of the original transaction. Type A code indicating the original Entry Type used to record the transaction. Ledger ID The ID of the transaction in the Ledger. Where transactions are split across multiple accounts, you can use the Ledger ID to reconcile those transactions: Select all the transactions with the same Ledger ID. The total at the bottom of the debit or credit column must match a single entry on the bank statement. Doc No. The Document Number entered when the transaction was recorded. Period The period that was selected when the transaction was recorded. Company The name of the Supplier or Customer linked to the transaction. Reference The reference that was entered when the transaction was recorded. Description The description that was entered when the transaction was recorded. Debit The transaction amount that was debited to the bank account. Credit The transaction amount that was credited to the bank account.
Fields Explained: Bank Statement#
Field Description Field Chooser (*) Lets you add or remove columns. ID The system-generated number for the entry in the Bank Statement section. TransID The Entry Type specific ID of the original transaction. Status The status of the original transaction. Type A code indicating the original Entry Type used to record the transaction. Ledger ID The number of the transaction in the Ledger. Doc No. The Document Number entered when the transaction was recorded. Period The period in which transaction is recorded. Company The name of the Supplier or Customer linked to the transaction. Reference The reference that was entered when the transaction was recorded. Description The description that was entered when the transaction was recorded. Debit The transaction amount that was debited to the bank account. Credit The transaction amount that was credited to the bank account. Balance Running total of the adjusted bank account balance.
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