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    Agnes Lee
    Aug 03, 2017
      ·  Edited: Aug 03, 2017

    Bank Reconciliation

    in General Ledger

    Every month your company will receive a bank statement listing out all the deposits, withdrawals, the opening and the closing balances from your corporate bank account. Once you have received the bank statement, you should verify if the amounts in your bank statement are consistent with the amounts recorded in the Cash Book of SQL Account.


    Go to General Ledger.

    1. Select Bank Reconciliation.

    2. Click New.

    3. Select Bank Statement Date e.g. 31st Jan 20XX (Follow your bank statement date).

    4. Account: Select the bank you want to reconcile (if you have multiple bank accounts).

    5. Fill in the closing balances you get under Bank Statement Bank Closing.

    6. Press Apply.

    7. A list of recorded payments in SQL Account will appear on-screen. Now if the record in SQL Account also appears in your bank statement, you can tick the checkbox to indicate payment/deposit cleared.

    8. Make sure in the end the Out of Balance by should be ZERO.


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