How to Create a Bank Reconciliation
Follow these simple steps to complete your bank reconciliation and generate a PDF document for your records:
Step 1: Access the Bank Reconciliation Tab
Navigate to the Bank Reconciliation tab in your system.
Click on Create to begin a new reconciliation.
Step 2: Select the Bank Account
From the dropdown menu, choose the bank account you wish to reconcile.
Press Next to proceed to the next step.
Step 3: Enter the Balance from the Account Statement
Input the balance from your bank statement in the relevant field. This step is mandatory for the system to perform an accurate reconciliation and calculate everything correctly.
Step 4: Match Accounting Transactions with the Bank Statement
Review and select the accounting transactions that correspond with the entries on your bank statement.
Ensure that each transaction matches correctly for an accurate reconciliation.
Note: Selecting Save and Close will save your progress, allowing you to return and continue the reconciliation without losing any of the work you've already completed.
Step 5: Verify and Submit
After selecting the matching transactions, review the numbers.
The unresolved amount must be zero before you can submit the reconciliation. Once everything matches, press Submit to finalize the reconciliation.
The unresolved amount must be zero to submit a bank reconciliation.
Step 6: Download Your Bank Reconciliation PDF
Once your bank reconciliation is submitted successfully, you can download the PDF version for your records.
Look for the Download PDF option to save a copy of the reconciliation.
Need support? Reach out to us at support@nexone.ca