To accurately review cash inflow and outflow for audit purposes, the pending Bank Reconciliation Statement (BRS) must first be completed. Once the BRS is updated, the Trial Balance and Financial Statements can be verified against the audited reports.
How to perform Bank Reconciliation (BRS):
- Log in to the ADDA Admin Dashboard.
- Navigate to Bank & Cash → Bank & Cash Accounts.
- Select the Bank Account and the required Date Range.
The system will display all transactions recorded through:
- Income Tracker (Collections)
- Expense Tracker (Payments)
- Bank & Cash (Deposits/Withdrawals)
- Compare these transactions with your bank statement.
- Select the Reconcile checkbox against the matching transactions.
- Click Save Changes.
Once the reconciliation is complete:
- Navigate to General Ledger → Trial Balance and fetch the report for the same period.
- Compare the Trial Balance and Financial Statements with your audited reports to identify any discrepancies.
If you still notice any differences after completing the reconciliation, please contact the ADDA Support Team. We will review the reports and assist you in identifying the cause of the discrepancy.
Author: Prabhalika