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Bank Reconciliation - Cashbook

Datafile Software

Bank Reconciliation - Cashbook

These procedures are all designed to help you reconcile your bank accounts against the bank or other account statements. The steps you would take to reconcile a statement are:

Make sure you have posted all receipt and payment transactions — check your paying-in and cheque books

Run the automatic postings up to the date of the bank statement to make sure that any which are due appear in your cash book accounts

Check the bank statement for obvious extra transactions — for example, bank charges which you have not been told about.There is a transaction entry option on the cash book Bank Reconciliation procedures which you can use for this

Take the Reconcile Bank Account option to mark the transactions in your cash book account as you find the match

If any transactions on your account are not quite the same — perhaps they have added a charge which you dispute — then you can attach a comment to that entry. You can print entries which have comments against them later

If there still some transactions on the bank statement which do not appear in your account, then you need to add these, and return to mark them as reconciled

By now you should have accounted for any differences between the bank’s statement and your account. You should print the Unpresented and Commented Items reports to document any differences found

The bank reconciliation procedures are all run from the following menu:

  • Release ID: Standard