Bank Reconciliation

Making your books agree with your bank. Once a month, and it stops being a job you dread. Add New Bank Reconciliation. Your Entity, your bank control account, and the period.

Start it, and the section below unlocks. Now paste this month’s transactions straight in. A whole statement is fine, the box scrolls. Or attach the statement file and let it read that instead. Then Draft entries.

And here is what it actually does. It matches your bank lines against what is already in your General Ledger, so anything posted this period is shown as posted and locked. You are not asked to enter it twice. What is left is what is missing, and it drafts those as the offsetting entries.

Underneath, the arithmetic does itself. Your opening balance, what was already posted, the new items, and cheques that have not cleared yet. Which adds up to what your bank statement should say. Put the real closing balance in, and Variance tells you whether you agree. Zero means your books match your bank.

Do it every month and your Year End is a formality instead of a fortnight. It prepares. You approve. Always.