Processing

To access this window, click: Accounts Management- > Operations - > Bank Reconciliation - > Processing 

 

Processing A Bank Reconciliation Period

Posting Period - Select the Bank reconciliation period to be processed:

Data will be populated to the fields as below 

 

Transactions

On the above pane. 

Select the transactions to be reconciled. 

These are the transactions that appear both in your statement and the system.

Tick the applicable and update. The un-reconciled balance will reduce accordingly.

Transactions that do not appear in the statement but are in the system will now remain as the unreconciled transactions.

To affect the same in the system, use the adjustments tab:

 Adjustments

Select the applicable Adjustment Type from the drop-down menu as shown below.
 

Select the branch to be affected, an appropriate adjustment type

Pick the ledger to affect, define the corresponding value and remarks.

Click Update to commit changes into the system and to update the adjustment.

The adjustments will be displayed in the g/l summary pane

 

Discrepancies

 

NOTE:

• Unreconciled balance is adjusted G/L Account Balance plus adjusted Bank Account Balance.
•  For a case showing a greater bank balance than G/L Account balance might be as a result of unrepresented cheques. 
• Bank Account Debit will debit the ledger whose transactions are being reconciled and credit the selected ledger
• Bank Account Credit will credit the ledger whose transactions are being reconciled and debit the selected ledger