How to reconcile payments from other bank accounts without live bank feed or an import file.
How to do a Bank reconciliation for other Bank accounts
You can perform a Bank Reconciliation for other bank accounts that do not have a live feed. This means that there will be no System Transactions to match against.
You will enter the balance as per your Bank statement and then reconcile your transactions to that balance based on transactions that were on that Bank Statement. You can then attach a copy of the Bank Statement to the reconciliation for record purposes.
1. Click on Banking > Accounts > Other Accounts
2. Click on Reconcile beside the Bank GL account you want to reconcile
3. You will now see that the Bank Transactions side has now been replaced with the below options as the system knows that this account does not have live Bank Feed or an imported bank file:
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Statement Number – enter the statement number as per your actual statement
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End Date – enter the date your statement ends on
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End Balance – enter the closing balance as per your bank statement
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Attachments – you can attach a copy of your Bank Statement here for reference
4. The right side of the screen displays your Enterpryze transactions.
5. Select the transactions by ticking each box against the transaction that appear on your Bank Statement.
6. As you select the transactions you will see the below values change.
The Difference amount is generated by subtracting the Statement end Balance from the Enterpryze transactions that you select for reconciling. Generally, if all transactions match this difference will be zero, where it is not Zero it may be down to a missing transaction such as Bank Charges which you can add on this screen.
Select this option if you want to post your difference to the Bank charges account. The Bank charges account is defined in Settings – Finance & Banking - Payment
To add in a missing transaction into Enterpryze:
· Click on the +Create New button located above the Enterpryze transactions on the right side of your screen and you can then choose to create a Payment or a Journal Entry.
7. Once you are happy with the matched transactions, added any missing transactions, resolved any difference you can now decide on the following:
Save for later – choosing this allows you to save the reconciliation as a draft to return to it later
Finish now – this will finalise the reconciliation and will post it for you
Cancel – this will cancel the matched transactions; you can also do this by unticking each one manually. You can match them again at another time.
What's next: You can review your reconciliations here.
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