Bank Reconciliation

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This is used to reconcile the system's record on Bank accounts against Bank Statements received from banks, and eventually produce Bank Reconciliation Statements.


Go to G/L > Bank Reconciliation

A list of bank accounts will be shown:






Maintain Previous Year Uncleared Bank Transactions


Highlight a bank account, click on the button of bank02

Here you can add records of uncleared bank entries (not yet reconciled) prior to current fiscal year so that they can be reconciled later. This one-time-only step is necessary for current fiscal year of a new account book (except for a new company) as the system did not have these records.


Click on '+' to add entries with dates earlier than current fiscal year.




Click on Save.




Add New Bank Reconciliation

Highlight a bank account, click on Add,






Define the Bank Statement Date,

Click on OK.






Bank Account No.: account number of the selected bank account.

Description: description of the bank account

Currency Code: currency code of the bank account

Bank Statement Date: the date defined in preceding step


Show All Date: check this checkbox so that all entries will be shown regardless of entries date; uncheck this if you want to specify the date range.

Show Date Range: uncheck Show All Date so that you may define the date range of entries

Show unticked transactions only: to hide the checked entries

Show transactions cleared at other date: to display all entries that were reconciled in other date


Account Balance: current balance amount of this bank account

Actual Bank Statement Balance: key in this balance amount as printed on bank statement (closing balance)

System Bank Statement Balance: balance amount of reconciled bank account (detected by the system); this amount will change when you start reconcile (tick the check-boxes). If all the entries are reconciled (ticked), this amount should be the same as Account Balance. In case of the first month of reconciliation, this balance is = Opening Bank Balance + / - the Uncleared Transaction (+Credit amount and - Debit amount), and it should be the same as the closing Balance of previous month's bank statement.

Difference: difference between Actual Bank Statement Balance and System Bank Statement Balance; this amount should be zero (0.00) if the entries are correctly reconciled.



Click on Preview,






Format 1 starts with Balance as per Bank Statement and ends with Balance as per Bank Account.







Format 2 starts with Balance as per Bank Account and ends with Balance as per Bank Statement.









Also see Bank Slip.







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