Reconcile
The Reconcile view is the final validation step in the banking process. It allows users to match the company's internal ERP records against the official bank statement to ensure every transaction is accurate and accounted for. By checking off individual entries, users can identify "cleared" transactions, detect bank errors, and ensure the Difference between the system balance and the bank balance is reduced to zero.
Reconciliation Header & Setup
This section defines the parameters for the current reconciliation session:
- Account: The specific bank or cash account being reconciled (e.g., Cash 2).
- Bank Statement: A selector to choose a previously uploaded statement or period to work against.
- Reconcile Date: The cutoff date for the reconciliation (e.g., 29/03/2026).
- Beginning Balance: The closing balance from the last successful reconciliation.
- Ending Balance: The final balance shown on your physical bank statement for the selected period.
Live Totals & Variance
These real-time calculations help you track your progress:
- Account Total: The current balance of this account in the ERP system (e.g., -1,330,907.52).
- Reconciled Amount: The sum of all transactions that have been checked/cleared in the list below.
- Difference: The remaining variance between the Reconciled Amount and the Ending Balance. The goal is to reach 0.00.
Transaction Matching List
This table lists all un-reconciled transactions. Users must "Check" the boxes for items that appear on their bank statement:
- Type & Reference: Identifies the document type and its unique ID (e.g., Bank Payment 002/2024).
- Date: The date the transaction was recorded in the system.
- Debit / Credit: The monetary flow (Inflow or Outflow).
- Person/Item: The party involved in the transaction (e.g., Arunkumar Selvaraj).
- X (Checkbox): The most important column; click the checkbox to mark a transaction as "Cleared" once you confirm it appears on the bank statement.
Reconciliation Actions
- Edit (Pencil Icon): Allows for quick correction of a transaction if the amount or date in the ERP doesn't match the bank statement.
- GL Icon: View the accounting impact of a specific line item.
- Reconcile All: A batch action to finalize the reconciliation once the "Difference" is zero. This locks the transactions to prevent future changes.