Please follow the below steps on how to do Bank Reconciliation:
Step 1: Login to ADDA -->> Admin -->> Bank and Cash -->> Bank & Cash Accounts
Step 2: Select the Date Range.
Step 3: Select Bank A/c shown next to "Reconciled Transaction" to reconcile.
Step 4: Select the radio button for "All Transactions".
Step 5: Click on "Fetch Transactions". After Fetching Transactions, you will find details similar to those shown below: Bank Balance & Book Balance
Bank Account with “All Transaction” including Reconciled and Non-Reconciled Transaction.
Bank Balance: A summary of the Opening Balance and Closing Balance in the Bank Account are shown in the “Bank Balance” table.
“Reconciled Inflow” and “Reconciled Outflow”: This will show the sum of transactions of Reconciled Inflow and the sum of the transaction of Reconciled Outflow respectively for the given period.
Book Balance: The summary of the Book Balance table shows the Opening Balance and Closing Balance of Bank Accounts in our Books of Accounts.
“Inflow” and “Outflow”: It will show the sum of transactions of Inflow and the sum of the transaction of Outflow respectively for the given period.
Bank Account: The Bank account shows all the individual transactions along with the mode of receipt and payment.
Step 7: Start Bank Reconciliation.
If you notice, the “Reconcile” column shows a green check box for a few transactions. These are the transactions that are already reconciled for the given period.
Where ever you find the checkbox under the “Reconcile” column, those transactions are still not reconciled so these transactions need to verify as per the bank statement
Once transactions are verified as amounts received in a bank account, please select the check box
Please give the date in the next column when the check has cleared and is shown in the bank statement.
Once it is done, please click on “Save All Changes”. Reconciliation is done.