Bank reconciliation marks each voucher on a bank account as cleared once the bank statement shows it. You can tick vouchers by hand or import the bank's statement and let the system match it by date, side and amount. A reconciled voucher cannot be edited.
Your books and the bank's statement should agree. Bank reconciliation is the check that every receipt, payment and transfer on one bank account in your books also appears on the bank's statement. Each voucher line you confirm is marked Reconciled with the date and the user. A reconciled voucher is then protected: it cannot be edited or deleted until you revert the reconciliation (Change or delete a saved voucher).
Open Bank reconcile report (menu Bank Reconciliation). It has two tabs. Reconciliation lists the vouchers of one bank account and lets you mark them by hand. Bank reconcile report (the second tab) works from the bank's own statement file. You need the right to use bank reconciliation for either.
Reconciliation changes nothing in the ledgers or balances. It only marks vouchers.
Mark vouchers by hand
1
Choose the bank and the period
Who
Accountant
Where
Bank reconcile report > Reconciliation
What changes
Choose the Bank name (a bank account of your own). The filter has a Report type (Reconciliation Report, Not Reconciliation Report or Both Report) and a From date range; it starts at the first day of the fiscal year and ends today. With more than one branch you can pick the Branch.
Needs
A bank name: "Bank name is required".
2
Read the list
What changes
Each voucher shows Date, Voucher no, the other Ledger, Cheque no, Dr amount, Cr amount, Bank amount, Total balance (the running balance of the bank account), Status (Reconciled or Not reconciled), Reconcile by and Reconciled date. The Opening balance of the period is shown above.
3
Reconcile one voucher
What changes
Choose the Reconcile button on the row and confirm "Do you want to reconcile?". The row becomes Reconciled.
4
Reconcile many
What changes
Tick the rows and choose Reconcile item. A box tells you how many are not reconciled yet and asks you to type the number of selected rows to confirm.
Needs
At least one row that is not already reconciled: "Selected items are already reconciled".
5
Undo
What changes
Choose Revert reconcile on a reconciled row and confirm "Do you want to revert the previously reconciled record?". The row is Not reconciled again and the voucher can be edited.
Match from a bank statement file
The second tab matches the bank's own statement against your books, row by row.
1
Open the bank
Who
Accountant
Where
Bank reconcile report (second tab) > select a bank card
What changes
A workspace opens for that bank with an Imported Data panel and an ERP Data panel.
2
Import the statement
What changes
Choose Import File and pick the file (.xlsx, .xls or .csv). Download the template there for the layout: a date, ChequeNo, DrAmount, CrAmount and Remarks per row. The rows are checked as you pick the file; fix any error the list shows and import again. When the rows are clean, save the import.
Needs
A bank and a file: "Please select bank statement file."; at least one row: "No imported data available to save."
3
Load both sides
What changes
Choose Load Bank Statement to bring the imported rows for the dates shown, and Load ERP Data to bring the vouchers of the bank that are not reconciled. Set the dates on the ERP panel first; they start at the first day of the fiscal year and end today.
Needs
A bank: "Please select bank first."
4
Match
What changes
Choose Match. Each statement row is matched to a voucher with the same date, the same side (debit or credit) and the same amount. A cheque number that agrees is shown as extra evidence. Matched rows show Matched; rows with no partner stay under Unmatched.
Needs
Imported rows: "Please import statement data first."; rows still to match: "All imported records are already reconciled."; ERP data loaded: "Please load ERP data first."
5
Reconcile
What changes
Choose Reconcile All for every matched row, or Reconcile row on one. "Successfully reconciled."
Needs
At least one match: "No matched records to reconcile."
6
Match the rest by hand
What changes
Under Manual Matching Workspace, drag a row from Unmatched Statements and drop it on the voucher it belongs to. Undo manual match or Undo All Manual Matches takes it back before you reconcile. Clear empties the workspace.
After you reconcile
The voucher shows Reconciled in its list. Edit and Delete are refused with "This voucher has already been reconciled and is not editable". To change it, Revert reconcile first, or leave it and make a correcting voucher.
The closing of a fiscal year has a bank reconciliation step; do the reconciliation before you close (Close a fiscal year).
Common questions
A cheque cleared in the bank but the voucher is not on the list.
Choose Both Report or Not Reconciliation Report, check the From date, and check the bank name. A cheque that is still a Cheque entry has no voucher yet: deposit it first (Record and deposit cheques).
I reverted a reconciliation but the statement row will not match again.
Reverting by hand does not release the imported statement row; it stays marked as reconciled. Ask support, or leave the statement row and the voucher as they are.
Why does Total balance not match the bank's balance?
Total balance is the running balance of your books for that bank account, not of the statement. It agrees with the statement only when every voucher the bank has is in your books and the not reconciled vouchers are the ones the bank has not processed.
