Bank entry reconciliations

Normal bank reconciliation

You can reconcile the following entry types:

• Receipts from debtors

• Payments to suppliers

• Bank deposits/journals

• Payments/receipts to be posted to ledger accounts

• Stop orders

• Predefined stop orders

• Interest accrued or paid

• Bank charges

• Reverse bank transfer

• Reverse receipt

Watch this video to see how to perform a bank entry reconciliation or follow the steps below it.

Navigate to the correct window

1. Navigate to Ledger / Bank Reconciliation / Bank Entry Reconciliation.

Enter the bank reconciliation details

1. Enter a reference in the Reference text box.
2. Enter the reconciliation period in the Recon Period text box.
3. Enter the reconciliation date in the Recon Date text box.

Process the bank reconciliation entries

Receipts from debtors

1. Enter REC in the Entry text box.
2. Enter (or select) the receipt number in the Receipt text box.
3. Enter the date of the receipt (as reflected on the bank statement) in the Date text box.
4. Change the entry in the Payee text box, if required.
5. Click the Accept button.
6. Click the Print button if you’d like to print the bank reconciliation.
7. Specify the Print Options and click the OK button or click the Cancel button if you’d like to close the window.

Payments to suppliers

1. Enter BX in the Entry text box and press Enter.
2. Specify the Search Options and click the OK button.
3. Select the appropriate bank transfer and press Enter.
4. Enter the date of the payment (as reflected on the bank statement) in the Date text box.
5. Change the entry in the Payee text box, if required.
6. Change the entry in the Recon text box to Y.
7. Click the Accept button.

Bank deposits/journals

1. Enter ENT in the Entry text box and press Enter.
2. Select the appropriate bank deposit or journal and press Enter.
3. Click the Accept button.

Payments/receipts to be posted to ledger accounts

1. Enter XFR in the Entry text box.
2. Enter the date of the transaction in the Date text box.
3. Enter the description of the transaction in the Payee text box if required.
4. Enter (or select) the relevant ledger account in the ACCOUNTS column.
5. Enter the transaction amount in the BANK AMOUNT column.
6. Enter (or select) the appropriate tax code for the transaction in the CODE column.
7. Click the Accept button.

Stop orders

1. Enter SO in the Entry text box.
2. Enter the date of the transaction in the Date text box.
3. Enter the description of the transaction in the Payee text box if required.
4. Enter (or select) the relevant account in the ACCOUNTS column.
5. Enter the transaction amount in the BANK AMOUNT column.
6. Enter (or select) the appropriate tax code for the transaction in the CODE column.
7. Click the Accept button.

Predefined stop orders

1. Enter PSO in the Entry text box.
2. Select the relevant predefined stop order from the Search Stop Orders list that appears.
3. Make any required changes.
4. Click the Accept button.

Interest accrued or paid

1. Enter INT in the Entry text box.
2. Enter the date of the transaction in the Date text box.
3. Enter the description of the transaction in the Payee text box if required.
4. Enter (or select) the relevant account in the ACCOUNTS column.
5. Enter the transaction amount in the BANK AMOUNT column.
6. Enter (or select) the appropriate tax code for the transaction in the CODE column.
7. Click the Accept button.

Bank charges

1. Enter BC in the Entry text box.
2. Enter the date of the transaction in the Date text box.
3. Enter the description of the transaction in the Payee text box if required.
4. Enter (or select) the relevant account in the ACCOUNTS column.
5. Enter the transaction amount in the BANK AMOUNT column.
6. Enter (or select) the appropriate tax code for the transaction in the CODE column.
7. Click the Accept button.

Reverse bank transfers

1. Enter RBX in the Entry text box.
2. Select the appropriate bank transfer from the Bank Transfer Search list that appears.
3. Enter N in the Recon text box.
4. Enter the date of the transaction in the Date text box.
5. Enter the description of the transaction in the Payee text box if required.
6. Click the Accept button.

Reverse receipt

1. Enter UD in the Entry text box.
2. Enter (or select) the receipt number in the Receipt text box.
3. Enter the date of the receipt (as reflected on the bank statement) in the Date text box.
4. Change the entry in the Payee text box, if required.
5. Click the Accept button.

Print the bank reconciliation

1. Click the Print button.
2. Specify the print options.
3. Click the OK button.