Bank Reconciliation Reports
We recommend that DRIVE users set the system to save the Bank Reconciliation Reports generated in an excel format to a specified folder.
If the system is not set to export the reports to a folder then the users should retain a copy (preferably soft copy) of reconciled bank reconciliations.
To set the folder to save the excel export:
- Tools, Settings, Reports, Settings
2. Enter the destination (DRIVE\Folder) or click on the Bank Reconciliation hyperlink to select the appropriate drive\folder.
Bank Reconciliation: Unbalanced
- Ensure that the ‘Balance as per the Bank Statement’ is taken at the same date as the Bank Reconciliation Report ‘To’ Date
- Date balance per Bank Statement taken from: DD/MM/YYYY
- To Date on Bank Reconciliation Report: DD/MM/YYYY
These dates must be the same.
2. Verify the Opening balance against the closing balance on the last reconciled bank reconciliation
- Closing Balance on last reconciled Bank Rec: XX,XXX.XX
- Opening Balance on this Bank Rec: XX,XXX.XX
These figures should be the same.
- If they are not the same then this would indicate then transactions in the earlier/previous Bank Reconciliation Report have been edited/altered. Re-run the previous Bank Reconciliation and re-reconcile it.
Once you have the previous Bank Reconciliation Report re-reconciled then re-check that the Opening Balance on the current Bank Reconciliation is the same as the Closing Balance on the previous Bank Reconciliation.
These figures should be the same.
3. Verify the Total Cheques (Payments and Transfers) against the Bank Statement Payments
- Total Cheques (Payments and Transfers) XX,XXX.XX
- Total each page of Payments on the bank statement: XX,XXX.XX
These amounts must be the same.
- If they are not the same then you have either
- missing payments or
- payments entered twice
- payments entered for incorrect amount
You will need to re-reconcile the payments and resolve.
These figures should be the same.
4. Verify the Total Lodgements (Receipts and Transfers) against the Bank Statement Receipts
- Total Lodgements (Receipts and Transfers) XX,XXX.XX
- Total each page of Receipts on the bank statement: XX,XXX.XX
These amounts must be the same.
- If they are not the same then you have either
- missing receipts or
- receipts entered twice
- receipts entered for incorrect amount
You will need to re-reconcile the payments and resolve.
These figures should be the same.
5. Verify the Outstanding Cheques (Payments and Transfers) and Outstanding Lodgements.
6. Verify the Balance as per Bank Statement XX,XXX.XX
| Enter the ‘Date’ that the balance per Bank Statement is taken from | DD/MM/YYYY |
| Enter the ‘To Date’ on Bank Reconciliation Report | DD/MM/YYYY |
| Closing Balance on last reconciled Bank Reconciliation | XX,XXX.XX |
| Opening Balance on this Bank Reconciliation | XX,XXX.XX |
| Total Cheques (Payments and Transfers) | XX,XXX.XX |
| Total of each page of Payments on the bank statement | XX,XXX.XX |
| Total Lodgements (Receipts and Transfers) | XX,XXX.XX |
| Total of each page of Receipts on the bank statement | XX,XXX.XX |
| Balance as per Bank Statement | XX,XXX.XX |