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Bank reconciliation

Accountants Enterprise only

The Bank Reconciliation feature enables you to:

  • View the receipts and payments that have been posted to the ledgers and cash book.

  • Reconcile your banking statements against the receipts and payments.

You can select multiple receipts from Bookkeeping > Bank Reconciliation before reconciling them with your bank and other records.

To select multiple receipts
  1. Select Bookkeeping > Bank Reconciliation on the main menu. The Bank Reconciliation page opens.

  2. Select the Company from the drop-down.

  3. Select the Bank account from the drop-down.

  4. Change the default current date in the Date to field, if necessary.

  5. Enter the date in the format dd/mm/yyyy or select it from the drop-down calendar.

    The Date To field is not mandatory. The field displays the current date which you can edit. All unreconciled items are displayed in the table and you are then presented with the cashbook balance as available in the system on the date defined.
    If you change the date in the Date To field, the system will display the cashbook balance for all entries up to and including the date entered. The table displays unreconciled items with a date up to and including the date provided in the Date to field. All information about the period after the defined date is ignored.

  6. Enter the amount on your statement in the Statement Balance field. The Reconciliation Difference field shows the difference between the Statement Balance and the Reconciled Balance fields

    The Statement Balance field lets you enter a physical statement balance to reconcile the bank account. When displaying the balance of the account in respect to the physical statement balance, you can identify any outstanding balances or differences between Practice Manager and the statement.

  7. Work through the statement:

    1. Select each receipt or payment in the statement that is also displayed in the table.

    2. Press the [Space Bar] to select the receipt and enter it in the respective Receipts Ticked and Payments Ticked fields. A C is displayed in the item row as it is confirmed against the statement.

    3. Press the [Space Bar] again to remove the C.

      To quickly check several items, press [Ctrl] and click each item you wish to select. Press the [Space Bar] once to mark all as Checked.
  8. Click OK to finalise the reconciliation and close the Bank Reconciliation page, or click Close to close the window without saving your changes.

    If the accounts are not yet reconciled, you will be prompted to save your changes so that you can return later to complete the reconciliation.

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