Bank Reconciliation

Bank Reconciliation

Bank Reconciliation


Info
Location
Adjustment > Closings > Bank Reconciliation
Info
Action
> Click NEW
> BANK select bank you would like to reconcile
> DATE select the month and enter the year
> Click GENERATE 
This will list out all the transactions relating to the bank for the period
> PREVIOUS ENDING BALANCE 
Check that this matches the opening balance of your statement received from the bank
> DEPOSIT
> WITHDRAWAL
> CURRENT ENDING BALANCE
The amounts here will add up when you tick on the list
> EXACT ENDING BALANCE enter the balance show on statement by the bank
> TICK on POST presented items
> DIFFERENCE
The objective is to tick on the presented items so that the Current Ending Balance matches the Exact Ending Balance.
This means the Difference will be zero, which means your bank is reconciled.
Note to ‘un-tick’ an item you have accidentally ticked, you can
Click on Presented Tab and tick on them. You will notice that it will roll back to the Un-Presented Tab list.
> DIFFERENCE with Green Color
There is no difference amount
> DIFFERENCE with Red Color
Amount not tally with bank statement
> Click ADD

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