To perform a Bank Reconciliation

After you have entered your first bank reconciliation, following the instructions below to perform further bank reconciliations

Ensure that every item from the debtor and creditor module that appears on your physical bank statement also appears in the Unreconciled side of the Bank Reconciliation window.

If there are items missing that relate to clients or suppliers, you need to leave the Bank Reconciliation window and enter these items through the appropriate module.

Once all client and supplier items have been entered:

1. Go to: Main menu > General Ledger module > General Ledger menu > Bank Reconciliation.
2. Where Check for automatic payments on a bank reconciliation has been selected in Maintenance module > Maintenance menu > System Defaults > Financial tab, the following prompt will be displayed:

   

3. Click Yes to process automatic payments.
4. The Bank Account Selection window will be displayed:

   

5. The Account field displays the default bank account.

   To select a different bank account, click the Account arrow and double-click the appropriate account.

   VisionVPM automatically displays the next statement number in the Statement No field. If this number is incorrect it can be overtyped, but first check you have not missed a statement.

6. Click OK.
   • Optional: To display a previously reconciled bank statement, select the Previous Reconciliation check box, click OK, and then in the Enter statement opening balance field, type the opening balance of that statement.

1. Reconcile an item by double-clicking the item in the Unreconciled list that matches the bank statement item.
   • The line item will move to the Reconciled list of the Bank Reconciliation window.
2. Add entries that appear on the bank statement but are missing from the Bank Reconciliation window by inserting Cashbook Deposits or Cashbook Payments, for example, bank fees, cheque transactions.
   1. Click Insert, to open the Cashbook window.
   2. Select either Deposit or Payment.
   3. Click OK.

1. Enter the details of the Cashbook Payment or Deposit.
2. Click Save and Close.

1. Entries on the Unreconciled list that are incorrect can be edited by selecting the item, and clicking Edit.

   Note that not all types of entries can be edited. For example, if you attempt to edit an Eftpos or Bank Deposit, the following message will be displayed:

   

2. When all items on the bank statement have been reconciled and the Closing Balance amount equals the closing balance on your bank statement, click Save.
3. Click Yes to the prompt, Do you want to print a copy of the statement?
4. Click Yes to the prompt, Do you want to print a list of outstanding items?

We recommend that you always print the statement and list of outstanding items after saving and attach both to the physical bank statement. It is very useful to have these for reference if any subsequent problems with the bank reconciliation arise. Your accountant will also need this information to complete your End of Year accounts.