Using the Deskera Books system, the finance team of a company is able to make comparisons of the company’s sales and purchases against their bank records. This functionality enables them to track their account payable and account receivable of the businesses.
Click on the "Bank" icon, and under the bank reconciliation tab, users are able to match the cash balances on the balance sheet to the corresponding amount of their bank statement so they can determine the differences between the two.
In order to check the bank reconciliation of your company, follow the steps as stated below:
- Go to the Bank tab on the sidebar menu.
- Click on the contextual menu (three vertical dots on selected account) >> Select Bank Reconciliation
- In the Bank reconciliation screen, you can view the following records:
- Statement Balance
- Statement Date
- Balance in your company
- Click on the drop-down arrow on the view transactions:
- Select both to view both bank reconciliation on deposit and payment account
- Select a deposit to view bank reconciliation for the deposit account.
- Select payment to view the bank reconciliation for the payment account.
- Make sure that all the deposits and withdrawal entries of the bank transactions match to your business transactions.
- If all the entries are accurate, click on the ‘Save and Reconcile’ button.
- If you are connected to the bank, the bank transactions will be shown.
- If users realized that the entries are missing, click on the create button to create a new deposit or payment entry to reconcile the account.
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