Bank reconciliation

Import bank statements with the account, date range, opening balance and closing balance. Each bank transaction retains an external identifier or a checked import identity. Match the bank event with the appropriate receipt, payment or journal while keeping the original statement row available for investigation.

A bank fee shown on the statement may be missing from the ledger. Prepare the authorized fee entry in the local general ledger, post it through the permitted accounting process and then compare the adjusted book balance again. Labeling the fee as matched without its actual book entry would leave the financial statements incomplete.

The preparer resolves unmatched rows and records outstanding checks or deposits in transit. Controller / CFO reviews the reconciliation independently. Approved reconciliation requires the adjusted statement balance to agree with posted books after any authorized bank fee or interest entries have been posted.

Bank rows retain their import identity, account and statement period. Reimporting a file should identify the same row instead of adding another transaction. A match consumes only the permitted source amount, and a bank row cannot be reused against another payment just because both payments share a date or a similar description.

Do not match an amount across the wrong bank account, entity or currency. A reused statement row cannot settle another transaction. Reopening a reconciliation preserves the previous decision and requires a reason; an unexplained difference cannot disappear by changing a status label.

The reconciliation reviewer sees the statement balance, timing differences, posted adjustments and remaining difference together. The adjusted statement and adjusted book balances must agree before approval. A nonzero difference stays visible with its explanation; changing the reconciliation status cannot supply a missing receipt or erase a duplicated payment.

Use Unreconciled Bank Transactions to investigate unmatched descriptions, counterparty references and amounts. Resolve the account and currency before searching for a candidate payment. A receipt in another entity or a different currency requires its own supported accounting treatment rather than an unrestricted match across the entire business.

Configure statement formats and account mappings using a complete statement period. Include an outstanding check, a deposit in transit and a posted bank fee in the reconciliation review. Preserve the opening and closing balances so the next month starts from an explainable position, including when an authorized user later reopens a prior reconciliation.

• Unreconciled Bank Transactions — Review the work and supporting records for this module.