Bank Reconciliation History Concepts

Use this workspace to review and reconcile your bank accounts, ensuring that all postings between your bank account and General Ledger (G/L) accounts are accurate and correspond. The Bank Reconciliations workspace allows you to filter and search for reconciliations using account numbers, registration numbers, or external accounts, which link your G/L to your banking sub-ledger. Within the workspace, you can view essential details such as company, petty cash account, transaction type, account numbers for both bank and G/L accounts, and number series. The reconciliation process involves checking opening and closing balances, calculating differences, and selecting entries for reconciliation. You can mark or unmark all entries for bulk actions, print or export records, and add transaction lines as needed. The statement date field ensures that entries are matched up to the correct cutoff, and the workspace is designed with collapsible sections for dimensions and informational fields to optimize usability. If discrepancies exist between the bank statement and G/L accounts, the system issues a warning, and reconciliation should not be approved unless differences are justified. Once reconciliation is approved, the record is finalized and moved to history for tracking.