Once a month, upload the bank statement (CSV, Excel or OFX) in Accounting → Bank Reconciliation and match each statement line to a receipt, payment, transfer or journal. When every line is matched, your books have everything the bank did.
Steps
- Record the month’s receipts, payments, expenses and transfers first.
- Go to Accounting → Bank Reconciliation, click the bank account, then New statement.
- Upload the file (or type the lines in), say which column is which, and click Check the lines.
- Enter the opening and closing balance as printed on the statement and click Save and match — lines that match a transaction are matched straight away.
- Work through the rest: match each line to its transaction, or create a journal for things only the bank knows about, such as bank charges.
Good to know
- Have the statement’s opening and closing balance to hand.
- You need permission to post journal entries.
The full guide
Reconcile your bank accountA bank reconciliation checks your bank statement against your own records, line by line. When every line on the statement is matched to a receipt, payment, transfer or journal in Business Sensor,…