Using the Deskera Books software, the finance team of your company is able to make comparisons of the company’s sales and purchases against your bank records.
This functionality enables you to track the account payable and account receivable of the businesses easily.
Click on the "Bank" icon, and under the bank reconciliation tab, users are able to match the cash balances on the balance sheet to the corresponding amount of their bank statement so they can determine the differences between the two.
In order to check the bank reconciliation of your company, follow the steps as stated below:
- Go to the Bank tab on the sidebar menu.
- In the Bank page, click on the Reconcile button.
- This will direct you to the respective bank page as per the image below.
4. In the Bank reconciliation screen, you can view the following records:
- Statement Date
- Statement Balance
- Uncleared deposits
- Uncleared withdrawals
- Balance in Deskera
- Difference
5. Click on the drop-down arrow to filter the transactions based on:
- Select both transactions: To view both bank reconciliation on deposit and payment account
- Select deposit: To view bank reconciliation for the deposit account.
- Select payment: To view the bank reconciliation for the payment account.
6. Make sure that all the deposits and withdrawal entries of the bank transactions match to your business transactions.
- If all the entries are accurate, click on the Match button to reconcile the record.
- If users realized that the entries are missing, click on the create button to create a new deposit or payment entry to reconcile the account.
Congratulations! You have successfully learned on how to reconcile your bank transactions with the transactions in Deskera Books.