Month End > Bank Reconciliation

Bank reconciliation happens in the finance and administration module and is usually managed by designated role(s) or person(s) within each agency or office.

UPLOADING THE BANK FILE

• Go to the finance & administration module > month-end

• Click bank reconciliation > go to the bank account tab > select the relevant bank account

Open

• Click on the import file tab > select the import icon

Open

• In the specification drop-down select import of bank data > in source select your downloaded bank file

• Click ok – import data

AUTOMATIC RECONCILIATION

• Go to the reconcile tab, here the Workbook transactions appear on the left and imported transactions on the right

• Select auto elimination to automatically reconcile the transactions that match

MANUAL RECONCILIATION

For remaining transactions, you will need to reconcile and then approve them manually using the check marks next to the transactions.

• When you have two transactions that match check the reconciled box of each

• The click the approve icon

RECONCILING NON CREDITOR/DEBTOR RELATED TRANSACTIONS

For bank transactions that are not related to a creditor/debtor invoice (for example bank fees/interest) then you can create and journalise the entries. To do this:

• Select the transaction

• Click on the + icon

• In the pop-up, select the account and description

• Click finalise and post

REMOVING ELIMINATIONS

• If you need to remove an elimination and redo it, you can do this by unticking hide eliminations

• Find the transaction in either the top left or top right box

• Click remove eliminations

• The transaction is now available to be re-reconciled.

FINALISING ELIMINATIONS

• Once your bank reconciliation is complete (all transactions balance to $0.00 and are reconciled/approve), click finalise eliminations

• In the pop-up enter a description and date

• Click ok

Related articles