Objectives
- Bank Reconciliation feature
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Reconciling bank statements with cash book balances helps you, as a business, to know the underlying causes that lead to such differences. Once the underlying cause of the difference between the cash book balance and the passbook balance is determined, you can make the necessary corrections in your books of accounts to ensure accuracy.
The first step is to click Billing→ Advanced→ Bank Reconciliations open the Billing Module from the main menu.
Then from Accounting choose the Bank Reconciliations
To set the balance/date that is in the bank statement they got from the bank, you you must select the account name, the "to date" and the balance. Then click Start
Click on the checkbox to select the transactions that match with the bank statement transactions. After you finish all the transactions, you can check if there is a difference.
Click on save and continue later if you need to make more changes, and save when you're done.
Click on the Reports → Bank reconciliations to be able to To access all the reconciliations in one single report with their statuses, balances, and dates., go to Billing Reports
You can edit, delete, or view any previous record.
Note |
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The first time you tried to add a bank reconciliation to an account, if your bank statement is not accurately reflected by the transactions shown, it can be fixed by adding a new journal. |
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