Reconciliations

Reconciliations

A bank reconciliation is the process by which the bank account balance in an entity's books of account is reconciled to the balance reported by the financial institution in the most recent bank statement.Any difference between the two figures needs to be examined and, if appropriate, rectified.

Roles

Finance Admin

Path

Finance Admin » Accounting » Bank Reconciliation

Pre-Requisite

• Finance Policy must be created
• Finance Admin role to User
• Financial Year Must be created

Input Needed

• Bank Details
• Reconciliation Date
• Cheque Bounce Date (if required)

Functionality

• Able to Reconcile the Vouchers as per the Bank (For an Individual/Multiple Voucher)
• Able to Reconcile the Vouchers as per the Bank using Excel
• Able to Check Pending and Reconciled Vouchers as per the selected date
• Able to Freeze Bank reconciliation
• Able to Select an option of Cheque Bounce(if required)

Screen Shots / Steps

1.Reconcile

2.Pending Reconciliation

3.Reconciled