Bank Reconciliation Example

LHS is the detail from the bank

RHS is the detail from the system

1. Right click on a line with bank details only, will search the grid for lines with our details only and a matching amount and show actions to match the bank line with our journal or batch.
2. Right click on a line with our details only, will search the grid for lines with bank details only and a matching amount and show actions to match the bank line with our journal or batch.
3. Choosing to match will merge the lines and tick Reconcile.
4. Unreconciling these lines will split them again.
5. Handles bank descriptions ending in 'Tyro' or 'Amex' to match amounts to amount within a POS batch
   1. Bank lines ending in ' Amex' or 'Tyro' will match on date in bank description regardless if amount does not match
      1. if amount does not match a journal may be required to be added to the batch
6. Improved matching of ZIPPAY lines using dates

Starting date choice.  Ending date choice

Starting Bank Balance....$                             Starting GL Balance on date $........ (Difference $121 )

Ending Bank Balance....$                                                                             Ending GL Balance on Date $                (Difference)

Process Flow

Step 1 = create starting balance for bank account

Journals exist in SaaSplications > create a single match for all past journals to get to the starting balance.

Statement-centric bank Account reconciliation upload

1. Importing a statement file from the bank:
   1. The file must be an xlsx or csv format file.
   2. It must have column headings in row 1, containing (Column headings are not case sensitive) :
      1. narrative OR description
      2. date
      3. debit
      4. credit
      5. balance
   3. The balance on the first data row + debit - credit must match the balance on the last row of the previous import for the host/bank account, unless it is the first import.
   4. Drag the statement file over the Statement-centric bank rec form and drop it.
   5. Reply Yes to upload the file.
   6. Action menu
      1. 'Import bank statement'.
      2. 'List bank statement(s)'.

Reconciling statement lines:

1. If a line has been reconciled the Reconcile box will be ticked and the matching journal or batch details will be shown.
2. The journal or batch can be opened from the context menu.
3. Likely matches are listed beside the bank statement line details.
4. Matches are assessed as:
   1. The journal or batch has not been ticked as reconciled in another bank statement or reconciled or assessed as a match in this bank statement.
   2. If the Bank Description contains 'Tyro Settlement':
      1. A POS batch with the same date as the Bank Date.
      2. Not a Zippay batch.
      3. The total of the journal lines for the bank account in the batch that do not have 'american' (not case sensitive) in the Transaction Summary matches the Bank Credit.
      4. If the total does not match but the date does then it will be listed with the amounts highlighted.
   3. If the Bank Description contains 'AMEX GR':
      1. A POS batch with a date between 1 and 6 days before the Bank Date.
      2. Not a Zippay batch.
      3. The total of the journal lines for the bank account in the batch that have 'american' (not case sensitive) in the Transaction Summary matches the Bank Credit.
   4. If the Bank Description contains 'ZIPMONEY':
      1. A Zippay POS batch with a date between 1 and 6 days before the Bank Date.
      2. The total of the journal lines for the bank account in the batch is equal to or greater than the Bank Credit.
      3. If more than 1 batch qualifies then the batch with the total closest to the Bank Credit.
   5. If the Bank Description starts with 'Direct Credit' and ends with 'Payments':
      1. A journal batch with a journal type of Creditor Payment and a subtype of Direct Deposit.
      2. The Batch Date matches the Bank Date.
      3. The total of the journal lines for the bank account in the batch matches the Bank Credit.
   6. Otherwise:
      1. A journal with a date that matches the Bank Date.
      2. The total of the journal lines for the bank account matches the Bank Credit.
5. Ticking the Reconcile Box will:
   1. Link the journal or batch to the bank statement line.
   2. Write today's date as the cleared date for all journal lines to the bank account in the journal or batch, unless the line already has a cleared date.
6. Un-ticking the Reconcile Box will:
   1. Unlink the journal or batch from the bank statement line.
   2. Remove the cleared date for all journal lines to the bank account in the journal or batch, unless the date is on or before the last original bank rec reconciled date for the host/bank account.
7. The Action menu includes an option to 'Reconcile all lines with matching amounts'.

1. If there is a locked original bank rec for a host/bank account then no journal or batch can be reconciled for the same host/bank account. Close or delete the original bank rec.

1. 'Original' bank rec:
   1. If journals or batches for  host/bank account have been ticked as Reconciled then no original bank rec can be started for that host/bank account.
   2. History tab, Delete/Cancel context menu option, will get an error if any lines are ticked. Deselect all and try again.

Check first line in the upload final balance amount aligns with previous upload (if one exists).  If no previous uploads exist - check if any following transactions exist and do same check for last line in the upload statement.

Step 3 - attempt to match on batch transactions (Tyro non amex $ on date or 2 days prior).  If date and tyro align but value is wrong - indicate as possible match

Step 4 - attempt match on tyro batch amex on date or dates prior

Step 5 - attempt match on date and amount

Step 6 - Attempt to match on debtor "Bank Transaction Identifier", search code, invoice number/s, 

Step 6 - Show proposed matches in grid (Multiple ?) > person can accept or not accept.  If accepted move to matched.  if not accepted check for any other possible matches ?

Step 7 - user can create new transaction (right click > Create) > list as matched

Step 8 - user can attempt a search using pieces of the transaction description (exists)

Balance Sheet

Indicate on Balance Sheet if GL Balance is not the same as statement balance on date (Red cell)