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Bank reconciliation

You can use the bank reconcile option to match the bank transactions you enter into TASBooks with those transactions that appear on the actual statement from your bank. Reconciling these values means the bank balances and transactions are accurate.

You should reconcile your bank account each time you receive a statement from your bank. Before reconciling your bank account, you should make sure you’ve entered all of your transactions up to the end of your bank statement.

To check the statement balance on your bank account

  1. From the menu bar, click Cash Book, click Bank Account Programs then click Display Bank Account Balances.
  2. For each bank account, check the statement balance matchs the opening balance on your bank statement. If there are any differences, you'll need to investigate these before you carry out your next bank reconciliation.
  3. Click Close.

To allocate paying-in slip numbers

  1. From the menu bar, click Cash Book, click Bank Account Programs then click Allocate Paying-In Slip Numbers.
  2. Choose the appropriate bank account, then click Display.

  3. All the cash transactions that have not been allocated a paying-in slip number are displayed.

  4. For each receipt, enter the paying-in slip number or a reference into the Ref field.
  5. If you want to allocate the same reference to all the receipts, click Automatic, then click Yes.
  6. Click Save.

Reconciling your bank statement

  1. From the menu bar, click Cash Book, click Bank Account Programs then click Reconcile Cash / Bank Statement.
  2. Complete the Reconcile Bank Account window:
    Bank Account Select the bank account you want to reconcile.
    Statement Ending Date Any transactions you enter with a posting date after the statement ending date will not be displayed.
    Starting Balance Check or enter the starting balance. This should match the statement balance.
    Ending Balance Check or enter the ending balance. This is the balance you're aiming to reconcile your bank account to. This value is usually the final balance on the bank statement.
  3. Click Next.

    All the unreconciled cash receipts and payments are displayed. Each line displayed represents either a withdrawal or a deposit.

  4. To add new transactions to the reconciliation window, for example a bank charge click Add, select the required option and enter the relevant information, then click Save.
  5. To reconcile an item, double-click it. Continue until you've reconciled all of the items which appear on your bank statement.
  6. Check the ending balance and reconciled balance are the same and the difference is 0, then click Save.
  7. If the reconciled balance doesn't match the ending balance, select one of the following options:

    • Go back and finish reconciling the account - Use this option if you want to complete the reconciliation, and match off any entries needed to get your reconciled balance to match your statement balance.
    • Ignore the difference and save the reconciliation - Use this option if you are happy to complete the reconciliation with a difference between the reconciled balance and statement balance, for example, because there are entries on your bank statement which are under query and you can't therefore match the balance on your statement.
    • Save the work I've done so far. I will come back and complete the reconciliation later - Use this option if you want to pause the reconciliation and complete it later. For example, if need to take a break or do some other work before you can finish the reconciliation. When your restart the bank reconciliation, you'll then be asked if you want to continue where you left off.

  8. Click OK.
  9. When prompted to print the Cash Book Summary Report click Yes, then click Print.

    Note: This is the only time you can print this report, you won't be able to print it later.

  10. When the Cash Book Summary Report appears click the print icon.

To unreconcile payments or receipts

If you find that you've made an error when reconciling your bank account, you can unreconcile any transactions required, or choose to unreconcile all transactions after a specific date.

  1. From the menu bar, click Cash Book, click Bank Account Programs then click Unreconcile Payment / Receipt.
  2. Choose the appropriate bank account from the drop-down menu.
  3. Enter a date just prior to the date of the transactions you want to un-reconcile.
  4. Click Display.
  5. To unreconcile an entry, double-click it. If you also want to clear the paying-in slip number for that item, double-click it again.
  6. If you want to unreconcile all items for the chosen period, select the Auto Unreconcile All check box.
  7. Tip: All the cash transactions that have not been allocated a paying-in slip number are displayed.

  8. For each receipt, enter the paying-in slip number or a reference into the Ref column.
  9. If you want to allocate the same reference to all the receipts, click Automatic, then click Yes.
  10. To save the changes you've made click Save, then click Yes.