📣 {{Remember to add links to Knowledge | Shireburn | Intercom and Knowledge | Shireburn | Intercom where needed, to this article's titles.}}
{{NOT RESTYLING THIS ARTICLE FOR NOW. MANY CHANGES WILL HAPPEN IN THE UPCOMING 2 MONTHS INCLUDING A MAJOR CHANGE IN TERMS OF IMPORTING STATEMENTS. Currently there's a big trace of import-related buttons and sections which cannot simply be removed by screenshots or be left out of our Introduction articles where we generally explain each section and field in the screen. Therefore, instead of creating more confusion for clients, and since there will be just one or very few clients in these first months, we'll be publishing only the steps to reconcile without going into much details about fields. We'll keep the descriptive part for when George will take care of completely restructuring the Reconciliation feature (AI will be big on this). Many screens will most probably change/be replaced/disappear}}
Table of Contents
Account Reconciliation Dashboard {{to be rebuilt. waiting for George}}
New Reconciliation Pop-Up
You can create a new reconciliation record from many places in the Reconciliation section of the Nominal menu. A➕ New Reconciliation button is available in both the Reconciliation Dashboard and in the Reconciliations page and they both open the New Reconciliation pop-up window. The available fields change if you choose a nominal or a bank account. The pop-up title will also change accordingly to:
New Nominal Reconciliation (A)
Or;New Bank Reconciliation (B)
The Fields
The Fields
Account | Pop-up Title | Fields |
(A and B) Nominal and Bank | New Reconciliation |
|
A) Nominal | New Nominal Reconciliation |
|
B) Bank | New Bank Reconciliation |
|
Once you click on the Continue button, you'll be redirected to the new reconciliation record page. Click on the button below to learn how to process a reconciliation. ⬇️
New and Ongoing Reconciliation Screen
The title structure for this page is always the same: Reconciliation (ID No) - [Account Name (Account Number)]. An In progress orange tag appears next to the title for the ongoing reconciliations. For the completed ones, a Reconciled green tag will show instead. You can get here through different paths:
Nominal > Reconciliations > Dashboard:
➕ New reconciliation
Kebab menu > Resume/Start reconciliation
Resume/Start new button in the grid
Nominal > Reconciliations > Reconciliations
➕ New reconciliation
Clickable Reference value in the grid
{{screenshot to be updated as most probably the Matched column will disappear waiting for the import pfd statements to be implemented}}
Here, you'll be provided with the list of posted transactions for the account specified in the title, in a grid format. Around the grid there are fields which change depending on whether you're reconciling a nominal or bank account.
The Grid and its Buttons
The Grid and its Buttons
Inside the grid you can click on the Tran ID value to consult the transaction. There are also other columns to check the date, the credited and debited amounts (or deposits and withdrawals for bank accounts), and any indicated external reference. Under the Select column, there are checkboxes to mark transactions while going through your statements.
At the top left there are three buttons:
🔄 Refresh transactions: it refreshes the grid's content.
🧹 Clear all selected transactions: it unticks all the selected transactions.
➕ Add transactions: it lets you create a batch journal for the missing records.
At the top right there're several filtering and record locating options. More on them ➡️ here.
Nominal Fields
Nominal Fields
When starting a reconciliation for a nominal account, right below the title, you can see the below sections:
Reconciliation description: it shows the reference ID assigned to the reconciliation record.
Reconciliation amount: the amount to reconcile for the selected period. It turns green when you tick all the transactions and the amount is zero.
In the footer, you'll see:
Total debits reconciled: it updates when you tick debits from the grid.
Total credits reconciled: it updated when you tick credits from the grid.
Total reconciled transactions: the total credits and debits ticked so far.
Reconciliation difference: the amount left to verify.
Bank Fields
Bank Fields
When starting a reconciliation for a bank account, right below the title, you can see the below sections:
Statement end date: the date reported on the bank statement.
Closing balance: the closing balance reported in the bank statement.
Account balance as at [date]: the current computed balance for the bank account at the indicated statement date.
In the footer, you'll see:
Reconciliation balance: closing balance + total unreconciled.
Statement running balance: account balance - total unreconciled.
Account balance variance: closing balance - account balance.
Unreconciled Deposits| Withdrawals | Total: unreconciled amount for deposits, withdrawals and the sum of them.
Amount to reconcile: account balance variance + total unreconciled. It turns green when you tick all the transactions and the amount is zero.
The green Reconcile button at the bottom right corner will allow you to finalise the reconciliation. The Close button allows you to exit the page and pause the process at the current stage. You can resume it from the Reconciliation Dashboard using the orange button in the grid.
Some of the fields described above have a circled info button ℹ️ to remind you how the figures are computed. Just hover over it to find out more.
View Specific Account Transactions
You can check the list of transactions associated to a specific reconcilable account from Nominal > Reconciliations > Dashboard. Once there:
Select the account from the Reconcilable Nominal Accounts grid
Click on the value under the Balance or Foreign Balance columns.
You'll land into the Nominal account transactions page for the selected account.
The Details
At the top of the page, you can consult some basic details for the account, such as Code, Name, Currency (base currency), Balance, Foreign Balance. If a foreign currency is assigned to that account, you'll see the balance in both the base currency and foreign one. Use the left and right arrows to move through the accounts and show the transactions accordingly.
The transactions can be filtered or located in a grid using the relevant fields at the top right of the grid. More on how to interact with a grid ➡️ here.
The Tran ID column contains a clickable value which opens a pop-up window showing the debit and credit making that transaction.
Account Reconciliation Dashboard
You'll get to this screen from:
Nominal > Reconciliations > Dashboard. Select a value in the A/C Code column.
Or;
Nominal > Reconciliations > Dashboard. Highlight an account and select View account details from the kebab menu at the top left of the grid.
From here you can consult the current Balance for that account, the date of the last imported statement along with the Transaction Count and the Date and Reconciliation Amount of the last reconciliation. Such details are spread into three rounded rectangles on the top of the page, where you can also find few action buttons.
Action buttons details
Add Transactions: use it to create any missing transaction to be matched with your statement lines.
View All transactions:
Reconciliations: select it to consult the list of all the reconciliations run for that account.
Related Articles