Bank Reconciliation

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Every beginning of the month, you will receive Statement of Accounts from your company's bank of the previous month's banking activities of your deposits and payments.

The month end balances will, often than not, never the same figure as compared to your bank ledger in your general ledgers accounts. This is largely due to records shown in your book but not in the bank's record (Statement of Accounts) or vice versa.

In this instance, you must do a bank reconciliation every month to account for the discrepancies.

: How to do monthly bank reconciliation                                    Related Topic : Opening Balances - Unpresented cheques b/f

 


Step 1/4: Click A/c Entry --> Bank Reconciliation

 

 

Step 2/4: Click [Add]

 

 

 

Step 3/4 : Follow the steps [1] to [9]

 

 

 

[5] Upload your bank statement into your monthly bank reconciliation record

At [8] Once there is no variance , the current month's bank reconciliation is correct.....If there are items in the statement but not taken up...there will be a variance...see Step 4/4 below.

 

                                                                       

 

Step 4/4: If there is variance...Read more...

You may have missed out some transactions (example bank charges) appearing in your statement but not in your record.

 
Click [Save], a message below will appear. Click [Yes].    

 

           

       
         Go to payment or receipt module to enter the missing records. Return to bank reconciliation again.

       
         Highlight on the current entry , click [Edit] to continue the bank recon until the variance is zero.

 
             

 

Next , learn how to print Bank Reconciliation

 

 

See FAQ
 


Related Topics

Bank charges

 

Opening Balances - Unpresented cheques b/f

 

Un-presented Cheque (Outgoing payment)

 

Un-credited Cheque , (Incoming deposit)

 

 

 

FAQ : Can I amend the earlier month bank recon to change the offset value?

:

FAQ : Invalid date Cheque date exceeded 6 months and still showing unpresented?

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http://realtimme.cloudapp.net/basic/index.html?bank_reconciliation.htm