Overview

A Bank reconciliation is a process that explains the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time. If your account records does not agree with the bank statement you must determine where the discrepancy is and make the appropriate corrections. It is normal for a company's bank balance to differ from the balance as per bank statement due to timing differences. Such timing differences appear as reconciling items in the Bank Reconciliation. Bank reconciliations should be done by date Consecutively and Periodically. You cannot commence a new bank reconciliation until your current bank reconciliation is balanced and finalised for the Bank Account you are reconciling. The First Bankrec must represent the Closing Bank Reconciliation from your Old System and Must Balance back to your General Ledger Bank Account. For the first time bankrec, the site will need to provide readysell with the statement opening date and statement opening balance figure. Readysell will insert this for you as the starting bankrec. 

 Bank Reconciliations are set to compress depending upon what rules have been set up against each tender. Usually Set up by Readysell at commence of Business.

Reference

Buttons

Refer to Common Buttons.

Image	Field	Description
	Extract Bankings	Extract bankings into this bank reconciliation
	Import Transactions	Import bank transactions for automatic matching and automatic transaction generation
	Generate Corrections	Generate correction bank payments / bank deposits based on the values in the correction column
	New Banking	Create a new banking in this reconciliation

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Lines Tab

Buttons

Image	Field	Description
	Mark Selected
	Unmark Selected
	Mark All
	Unmark All

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