Bank Reconciliation - daily process

Owned by Fiona Wilson
Last updated: Jun 27, 2022
2 min read

This guide has been reviewed against our global client base and classed as relevant to all regions

The Bank Reconciliation screen displays all items that have been receipted previously, with Statement Items on the left displaying details of the statement and Transactions on the right showing the items to be reconciled

From the main menu, click Lettings/Rentals, select Daily Accounts Processes and select Bank Reconciliation option:

1. Bank Reconciliation screen

  • To speed up the reconciliation process, all items that match with the statement are automatically ticked, meaning that the un-ticked items cannot be reconciled at this time as they do not appear on the statement

  • All items on the left should be reconciled; items on the right may be un-reconciled as the payment is still waiting to leave the bank

  • To process the selected entries, click Post (bottom right of screen)

2. Produce as an Excel spreadsheet

  • Click Print (bottom right of screen)

  • Click Yes to include un-reconciled entries then select Excel Export and click Accept
    An example spreadsheet is shown on the right

  • This report cannot be reproduced 
    Before closing the spreadsheet, it should be saved locally
    Close Excel and exit the Bank Reconciliation screen

 

3. Client/Trust Account Reconciliation

From Lettings/Rentals option on the main menu:

  • Click Client/Trust Account Reconciliation
    An example spreadsheet is shown on the right

  • Both the Balance and Statement Balance (shown at the bottom of the screen) should match
    This figure should also match the physical bank statement

  • This report is not automatically saved
    Before closing the spreadsheet, it should be saved locally