Bank statement reconciliation
Every month, you must check that all movements in your bank account are registered in the accounts. The balance in the bank account and your account balance should be equal. This is called bank statement reconciliation.
Every month, you must check that all movements in your bank account are registered in the accounts. The balance in the bank account and your account balance should be equal. This is called bank statement reconciliation.
Go to menu > BANK STATEMENT RECONCILIATION.
First, you should upload a PDF with your bank statement. You will find your bank statement in your online bank. If you already have sent it to your upload voucers you can get it from your uploaded vouchers.
Make sure that you have chosen the right period and account number. Fill in the outgoing balance in the field «Bank statement closing balance». This is the amount that was on your bank account at the end of the month you are controlling.
If the «Accounting closing balance» and «Bank statement closing balance» are equal, everything is great. Then you are done with the month and can click on APPROVE RECONCILIATION.
Oh no! I have deviations
This happens more often than you would think. If the closing balance in the accounting account (usually 1920) and the actual bank account do not match, it means you have a deviation.
There is no reason to panic: most likely, it just means that something has not been registered in the accounts, or you have entered the wrong amount when you registered a voucher.
The next step is to see if you can find an invoice or bill that is just the same amount as the deviation. Then it is easier to identify the mistake, and you only need to register that before you approve the reconciliation.
If you can’t find one amount that is the same as the deviation, you might have several mistakes. Go through all your vouchers for that month and make sure that everything is registered and with the correct period.
