Setting up for Bank Reconciliations Go Live

On Your Old System:

The following steps needs to completed and the end result needs to be provided to Readysell:

1. Ensure that all transactions for each bank account/visa card/master card/loan accounts are entered into you old system as at the last day of trade. 
2. For each bank account the final bank reconcilation needs to be done on your old system as at the last day of trade.
3. Identify the cut over date for the last Bank Reconciliation on the old system .
4. Download your bank statement for each bank account/visa card/master card/loan accounts that you do a bank reconcilation for on the last day of trade on your old database.
5. Enter all transactions off each bank statement into your Old System before the final conversion cut off.
6. Extract the last bankrec for each bank account/visa card/master card/loan accounts etc and work off your bank statement on your Old System
7. Finalise each bank reconciliation in your old system
8. Check that your closing bank reconcilation figure lines up to each General Ledger Account on the old system
9. Provide Readysell for each Bank Account with the Closing Bank Balance Plus and/or Minus any unpresented transactions. This closing figure has to line up to the General ledger Closing Figure. If this figure has a large variance to the General Ledger Bank Account, then the best way to start on Readysell V8 would be to work off the Bank Statement itself .
10. The Brought forward figure and all unpresented figures for each bank account will be entered into Readysell V8 by Readysell and some behind the scenes work needs to be conducted. 

On Readysell V8:

1. Once the last Bank reconcilation has been performed on the Old System and the information has been provied to Readysell, Readysell will work on getting that starting position into Readysell 8 for each bank account/visa card/master card/loan accounts etc. 
2. The Brought forward figure plus any unpresented deposits and payments will be entered in V8 by Readysell.
3. Readysell will create the First Bank Reconcilation for each Bank Account. 
4. This starting bank reconcilation will stand for the Closing Bankrec in your Old System and there will also be an entry of an initial General Leger Journal for the General Ledger Bank Account
5. This starting position has to be performed for each bank account by Reaydsell before any Bank Reconcilations can be extracted live in Readysell V8.
6. Reaydsell will then ask for a copy of a full bank statement for each account that needs to be reconciled.
7. Working with the site and the bank statement, readysell will help you create any bank reconcilation rules and/or recurring bank payments if you are going to use the Automated Import of Bank Statement lines.
8. Readysell will also train you on the first bank reconcilation and help you analyse the date imported versus the readysell transactions to work out why the etiher didnt auto match or dont exist or are not correct for any reason.