To get started with your bank reconciliation process, simply follow the the following steps
- Go to Control Panel
- Click on Accounts
- Select the related account and click the Reconcile button beside
- Set the Closing Date
- Import the completed statement balance template. If you have yet to prepare the statement balance, simply
- click import statement
- in the pop-up window, select template file
- Fill in the details accordingly based on your official bank statement
- Upon importing, click continue on the pop-up screen
- The system will automatically match the items in your bank statement with the respective transactions found in Financio based on the reference code.
- For items not matched, click on the Match (x Item) and find the related transaction.
- Once done, click Reconcile on the bottom right and you are done.
Alternative Method
If preferred, you may choose not to upload a statement method. Instead, you will
- Key in the statement balance
- Next, check off the related payments that has been processed as per the Bank Statement
- Once Balanced, hit the Reconcile button on the bottom right
Comments
7 comments
Hi Travis,
Already did that for the opening unpresented and uncredited cheques.
It's for the year, monthly reconciliation.
Anyway the link is not working
tq
Hey Travis,
Just want to confirm so currently if the amount in financio at the end of the month is different from the bank balance it cant show the unpresented chq and uncredited chqs?
Thanks
Hi Andrew,
Our sincere apologies for having overlooked your earlier question.
Upon reconciling your bank account, you'll be able to generate your reconciliation report by going over to Reports:
And then select Reconciliation:
Lastly, select the account you'd like to generate the report for and closing date:
Currently, it is not possible to add description/title to the reconciliation. Nevertheless, you may export it in excel format to add in a title/description where necessary.
Once again, we apologise for having overlooked your earlier question.
any update for this
How do I generate such report as above?
Hi Andrew,
Just to clarify, are you referring to the initial bank reconciliation at the beginning of the financial year? If so, here's a guide on how you can create the unpresented and uncredited cheques to be reconciled later on.
Hi Andrew,
My apologies, i've fixed the link. For monthly payments. As long as the payments have been raised & recorded in Financio to be knocked off against an invoice/bill, you'll be able to reconcile the unpresented and uncredited cheques.
If you have further concerns, perhaps you can drop me an email at travis.tai@financio.co and cc customersuccess@financio.co and we can further our conversation there :)
Regards,
Travis Tai.
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