Bank & Cash
Track your cash and reconcile your payments
1. Look at your Bank statements
When you are on the accounting dashboard, you can whether observe your previous bank statements or create a new one.
To observe a bank statements, you have to press more button in the Bank frame and click on bank statement.
To create a new one you can immediately click on new statement or create if you are already in the previous statements page.
2. New Bank statement
M anage the control of your accounts by issuing a new bank statement at least once month.
Input All transactions as they appear on your bank statement at their effective date
Use 10 (positive) for credit transaction and -10 (negative) for debit transaction.
Memo is any internal note to help you tracking the transaction later.
The Starting Balance will be equal to the Last Closing Balance.
-> The Ending Balance taken from the Bank paper must be equal to the Computed Balance in order to ensure that no transaction is missing and there is no problem in the previous statements.
-> Then you can start the reconciliation .
Reconciling accurately invoices and orders against the associated bank transaction is needed to ensures system financial integrity and authenticity.
There are four main methods for reconciling an item :
- If the payment is done with a down payment, just check if it is all right and validate all related payments
Partners for the transaction must match to validate the reconciliation!
- Choose between different invoices : - to remove proposed invoices from the selection, + in front of the correct invoice(s) to reconcile.
- By pressing on the arrow you can select a reconciliation model to match with the transaction.
- If the amount of transactions remain different, you will have the choice between create a write of or let the balance open!
If you decide to let the balance open, the amount remaining with be reported for the next reconciliation.
Tip : Predefined templates
- Go to Accounting > Bank > More > Reconciliation Models and click Create to define a new template.
We recommend you to create templates for accounts that you often use