Bank reconciliation (block management)

Owned by Fiona Hardy
Last updated: Jul 04, 2022
3 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

1. Access option from main menu & select client account

From the main menu:

  • Click Block

  • Select Daily Accounts Processes

  • Click Bank Reconciliation

  • Select the appropriate client account from the list and click Accept

2. Bank reconciliation screen

When opening the bank reconciliation screen, you are presented with two lists of transactions, split into different sections of the screen

The right-hand side represents transactions within the system and the left shows your bank account

  • This process is done to mark payments as cleared and reconciled before funds can be processed out of the system

  • Selecting an item on one side of the screen will highlight the corresponding item on the other side, making it clear what matches

  • With receipted payments, it is likely that they will already be ticked
    Payments going out, shown as negative amounts on the bank statement items list, will not be ticked by default as you need to check the values are as expected (and match on both sides), before posting

Balance brought forward (Balance B/fwd) and the Reconciled Balance as well as total debits, credits and the grand totals are shown at the bottom left of the screen

3. Post entries

  • To process the selected entries, click Post (bottom right of screen)
    Green ticks will be displayed next to the reconciled items

  • Click OK

4. Produce reconciliation report (export to Excel)

A reconciliation report should then be generated and saved for future reference - this allows transactions to be tracked to the last point everything was correctly reconciled

  • Click Print (bottom right of screen)

  • Click Yes to include un-reconciled entries

  • Select Excel Export and click Accept

 

5. Save report

An example format report is shown below

This report cannot be reproduced 
Before closing the spreadsheet, it should be saved locally

  • Close Excel and exit the Bank Reconciliation screen
    This completes the process of bank reconciliation

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