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This activity allows you to reconcile the transactions available in a bank statement and the bank book. Tell me more.
Select the “Reconcile Transactions” link under the “Bank Reconciliation” business component.
The “Reconcile Transactions” page appears.
Enter the following fields in the “Statement Information” group box:
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Bank Account No. |
Use the drop-down list box to select the code identifying the bank account for which you want to reconcile bank statements and the bank book. All the bank account that have been defined in the “Bank Cash Definition” business component will be available for selection in the alphabetical order. |
The system displays the following:
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Bank Name |
The name of the bank. |
Enter the following fields:
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Statement No. |
The number identifying the bank statement for which you want to reconcile the transactions (Alphanumeric, 6). The system retrieves all the unreconciled bank statements that are in the “Active” status |
Note: If a date range has been entered in the “Start Date” and “End Date” fields, the system retrieves all the transactions that fall within the date range.
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Start Date |
The start date of the period for which you want to retrieve the transaction details of the account (Date Format). |
Note: The date entered in this field must be before the date entered in the “End Date” field.
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End Date |
The end date of the period for which you want to retrieve the transaction details of the account (Date Format). |
Click the “Auto Reconcile” pushbutton to reconcile transactions automatically.
The system automatically reconciles the transactions available in the bank statement and the bank book considering the following
Check numbers and transaction amounts
Pay-in-slips and transaction amounts.
Enter the following fields:
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Raise Bank Charges |
Check this box to allow the system to raise sundry payment vouchers for the difference in transaction amounts available in the bank statement and the bank book. |
Click the “Get Details” pushbutton to retrieve all the unreconciled statement.
The system displays the following in the “Bank Statement” multiline:
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Transaction Type |
Indicates the type of the transaction. It could be “Payment”, “Check Payment”, “Receipt”, “Check Receipt”, “Interest Paid”, “Interest Received” or “Service Charges”. |
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Date |
The date on which the transaction occurred. |
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Depositing Point |
The code identifying the organization unit in which the transaction occurred. |
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Pay-In-Slip No. |
The number identifying the pay-in-slip. |
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Prefix |
The prefix identifying the check number. |
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Check No. |
The number identifying the check. |
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Amount |
The transaction amount. |
Enter the following field in the “Bank Statement” multiline:
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Tag Group |
A unique identifier denoting a tag group that can help in matching (Alphanumeric, 6). For example, if a transaction has been assigned a tag group <A> in the bank statement, it can be matched with multiple transactions that have also been assigned the same tag group <A>. |
The system displays the following in the “Bank Statement” multiline:
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Remarks |
Any comments regarding the transaction type. |
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Company Reference |
The code identifying the company that is involved in the transaction. |
Check the box in the “Select” column of the “Bank Statement” multiline to mark the transaction type for reconciliation.
The system displays the following in the “Bank Book” multiline.
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Transaction Type |
The type of the transaction in the bank book which could be “Payment”, “Check Payment”, “Receipt”, “Check Receipt”, “Interest Paid”, “Interest Received”, “Service Charges” or "Cust. Misc. Invoice". |
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Date |
The date on which the transaction occurred. |
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Depositing Point |
The code identifying the organization unit in which the transaction occurred. |
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Document No. |
The number identifying the transaction document. |
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Prefix |
The prefix identifying the check number. |
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Check No. |
The number identifying the check. |
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Amount |
The transaction amount. |
Enter the following field in the “Bank Book” multiline:
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Tag Group |
A unique identifier denoting a tag group that can help in matching (Alphanumeric, 6). For example, if a transaction has been assigned a tag group <A> in the bank statement, it can be matched with multiple transactions that have also been assigned the same tag group <A> in the bank book. |
The system displays the following in the "Bank Book" multiline:
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Remarks |
Any comments regarding the transaction type. |
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Company Reference |
The code identifying the company that is involved in the transaction. |
A If tag group is entered for both the bank statement and the bank book, there is no need to select the transactions manually for reconciliation. The system reconciles the transaction based on the tag group. Refer Matching List.
Enter the following field:
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Remarks |
Any remarks pertaining to the reconciliation of the transaction (Alphanumeric, 256). |
Check the box in the “Select” column of the “Bank Book” multiline to mark the transaction type for reconciliation.
Note: The “Tag Group” field must be left blank in both the multiline if the bank book and the bank statement must be reconciled manually.
Click the “Reconcile Transactions” pushbutton to reconcile the transaction.
The system generates a unique reference number for every matched transaction and updates it against each transaction. The system stores the login ID of the user and the system date along with the reconciliation details.
