BANK RECONCILIATION

BANK RECONCILIATION

4.5  BANK RECONCILIATION




Location

Action

Remark

Adjustment> Closings> Bank

Reconciliation

     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                                                   The amounts here will add up when you tick on the list

     WITHDRAWAL

     CURRENT ENDING BALANCE

 

    EXACT ENDING BALANCE enter the balance show on statement by the bank

 

 

 

      TICK on POST presented items              The objective is to tick on the presented items so that the
                                                                                                Current Ending Balance matches the Exact Ending Balance.
     DIFFERENCE                                                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

     DIFFERENCE with Red Color

There is no difference amount

Amount not tally with bank statement

 

     Click ADD




    • Related Articles

    • Bank Transfer

      3.2.2.3 Bank Transfer Location Action Remark PURCHASES> PAYMENT  Click Purchases activity  Click Payment module  Click NEW  PAYEE TYPE click  Bank  PAYEE enter  Cash  ACCOUNT select  CAS0010  DESCRIPTION enter       Top-Up Petty Cash  ...
    • Renaming a Bank Accounts

      Location Action Remark Setup Activity>   Account Module  Click SETUP activity  Click ACCOUNTS  Click CHART OF ACCOUNT module  Select CAS1000 Bank 1  Click EDIT  CATEGORY BANK                                     This define the nature type for ...
    • Bank Loan

      Scenario: You loan 100,000 from bank. there is also a monthly payment with interest. To begin we will need an account to hold the loan amount. we will also need an expense account to hold the interest value. you'll need to create the accounts if you ...
    • Payment Mode

      1.3.6 Payment Mode To link the Bank Account for use at Receipt Voucher, Payment Voucher & Petty Cash, you are required to  setup the Payment mode Location Action Remark Setup Activity> Account Module  Click SETUP activity  Click ACCOUNTS  ...
    • How to check Bank Balance?

      Go to Report. See (a) Click on Bank Status. See (b) Filter by a Date range Here is the Bank Balance! See (d)