Bank reconciliation is an accounting process that enables you to check whether the information held in your accounting records matches up with the information in your bank account. Automated Bank Reconciliation helps you to do faster reconciliation. It will automatically reconcile all those entries which you have entered in your books with your bank transactions as soon as you upload the bank statement into the system.

Have a quick look at the below Parameters basis on which the system does the auto reconciliation.

• The Cheque Reference number should exactly match with cheque reference number entered in Accounting Books (Payment/ Receipt / Contra Entries)
• The debit/Credit amounts should exactly match as per bank statement
• The Cheque Reference date should exactly match as per bank statement
• If the Cheque reference number is missing from the bank statement then the system will match the narration of the bank statement with the Cheque Reference number entered in the Accounting books.
  
  

Learn Step by Step Auto Bank Reconciliation

Have a Quick Look at the below video to get a brief of Auto Bank Reconciliation Working

Understand more about different filters on the Bank Reconciliation page.

Understand Quick Summary of Bank Reconciliation.

Balance as per Company Books reflects the Bank Balance according to the Books of Accounts maintained by the Company. 

Uncleared Balances shows the total of Uncleared bank transactions  in Books of Accounts 

Cleared Balance shows the total of cleared bank transactions  in Books of Accounts 

Imported Bank Statement details reflect the bank balance as per the Bank statement Uploaded into the system

Imported - Cleared Balance shows the total balance of bank transactions which are reconciled against the books of accounts