Bank Reconciliation(Bank Statement Import)
You can import your bank statement from your bank website to help reconcile the transactions on your account. You can import bank statements from multiple bank accounts.
All the transactions are automatically mapped to the existing records. However, if there are additional transactions on your statement that you haven’t recorded, you can record during the import.
Steps to import bank statement
- Visit your bank website & download your bank account statement in XLS/XLSX/CSV format.
- In Output Books, click Bank/Cash from the left panel.
- Select the bank which you want to import transactions.
- Choose Bank Statement tab
- Click Import Statement and select your bank account statement, which may be in XLS/XLSX/CSV format.
- Pop-up shows your bank statement records. You can verify before importing.
- Click Import.
Reconciliation mapping
All the imported transactions are checked and matched with the existing transactions and listed as below.
Existing transactions
Output Books scan the imported records, compare with your existing data and suggest linking with the existing transaction. This comparison includes the transactions on the same date and with the same amount. You can verify and link the record.
If that imported record is not matched with our suggested transaction, you can create a new transaction by clicking the New Trans from the dropdown.
New transactions
You can create new transactions for the unmatched records to reconcile the bank statement. You can make payment, receipt, Journal, Cash/Contra or Expense on Non-GST with the current record.
The corresponding transaction type will be linked with that record.
Thus, you can reconcile all the records of your bank statement.
