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Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines

Owned by P Sawkins (Unlicensed)
Last updated: 18, Apr, 2023 by Paul Sawkins

Statement Centric Bank Reconciliation

Overview

Upload the bank statement and then match it to existing transactions

Use examples of bank lines matched to journals to create templates > so the system suggests journals you have not yet created - and will create them for you

After reconciling a journal may be adjusted in value - in this case the reconciliation flag remains however the values are highlighted in yellow

A single line in the bank can be matched to multiple transactions in the system by putting all the related journals into a batch.  This happens automatically for credit card related batches.

FX Bank Accounts and related transactions

Foreign Currency Bank Accounts

  1. If bank account is in foreign currency then bank statement amounts are assumed to be in that currency.
  2. Foreign currency amounts of journals shown and used in matching.
  3. Amounts at top of bank rec are all in foreign currency.
  4. Journals with no foreign currency amount are not shown.
  5. Foreign currency standing journals are not supported so bank rec rules cannot be created.
  6. Foreign currency debtor prompt payments and general journals (bank transfers) are not supported so they cannot be created from the bank rec.
    1. To create a transfer from a foreign currency bank account to any other account use the "Foreign Currency transfer" wizard
  7. Journals
    1. A local currency journal cannot have a foreign currency bank account.
    2. A foreign currency bank account must be the same currency as the journal.
    3. A journal cannot have more than one foreign currency bank account
 Click here to expand and see ATTACHMENTS

  File Modified

File Sample bank file.csv

28, Feb, 2019 by Ian Reid (Deactivated)

PNG File Bank Reconciliation remembered upload.png GLIFFY IMAGE

12, Mar, 2019 by P Sawkins

File Bank Reconciliation remembered upload GLIFFY DIAGRAM

12, Mar, 2019 by P Sawkins

PNG File bank req example.png

06, Jun, 2019 by P Sawkins

JPEG File add a journal into the batch.jpg

13, Jun, 2019 by P Sawkins

JPEG File creating a journal template.jpg

18, Jun, 2019 by P Sawkins

JPEG File save the journal template.jpg

18, Jun, 2019 by P Sawkins

JPEG File matching of tyro journal.jpg

18, Jun, 2019 by P Sawkins

JPEG File create new template.jpg

18, Jun, 2019 by P Sawkins

JPEG File right click options.jpg

18, Jun, 2019 by P Sawkins

JPEG File example of offered templates.jpg

18, Jun, 2019 by P Sawkins

JPEG File jt offered in the grid.jpg

18, Jun, 2019 by P Sawkins

JPEG File bank req example.jpg

10, Dec, 2019 by P Sawkins

PNG File Screen Shot 2020-11-10 at 2.07.29 pm.png

10, Nov, 2020 by P Sawkins

Bank Reconciliation Example

Upload of a bank statement

Example of xls sheet

Reconciliation view

LHS is the detail from the bank

RHS is the detail from the system

Only transactions in the date range selected will be processed by the rules engine

Reversal of a journal is not possible if it has been cleared in a bank rec (any lines have a cleared date)

  1. Displays all journals:
    1. that have been allocated to a bank line within the date range OR
      1. are not in a batch
      2. that are before the from date and have not been reconciled
      3. That have NOT been reversed (Journals reconciled in the bank cannot be reversed until reconciliation removed)
      4. have not been cleared in an old style bank rec
  2. Display all batches:
    1. that have been allocated to a bank line within the date range OR
      1. that are before the from date and have not been reconciled
      2. have not been allocated to a bank line outside the date range
      3. have journals that have not been cleared in an old style bank rec
  3. Displays all Bank statement lines that are
    1. within the date range
    2. before the from date and have not been reconciled.

Process Flow