Perform a Bank Reconciliation

Perform a Bank Reconciliation

Idea

Bank Reconciliation is the process of checking differences between the transactions loaded on the PropWorx and the transaction on the bank statement.

You can use the bank reconcile to match the bank transactions imported with those on the statement from your bank. Reconciling these values means the bank balances and transactions are accurate. You should reconcile your bank account each time you import a statement from your bank.

How to perform a bank reconciliation

1. Click Accounting on the Main Menu.

2. Click on Banking.

 

3. On the main ribbon bar, select the Processed Transactions.

4. Select the Cashbook from the cashbook dropdown menu.

5. Cashbook report will open.

6. Adjust the date range (optional) and type in the Closing Bank Balance.

7. Under the “Balance” section, the balance will show if the bank reconciliation balance is Balance or Out of Balance.

8. Under the transaction sections, user will tick (to include the transaction) or untick (to exclude the transaction) the reconciled tick box from the bank reconciliation calculation.

9. As the transactions are ticked and/or unticked, the balance will adjust to show the cashbook is balanced.


  

10. Click Save Changes to reconcile the cashbook.

11. Optional: Click Export to generate a bank reconciliation report.

Warning

If the balance remains out of balance, the user will require to compare each transaction on the bank statement to find any duplicate or missing transactions reflecting on the cashbook.

Fix a bank reconciliation

To correct out of balance, review the cashbook to determine the cause—whether it is due:


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