Bank Reconciliation

 

Overview

Surf Accounts provides an excellent facility in the Cloud based accounting software in terms of Bank Reconciliation as it is one of the most tedious and time consuming administrative work. This process of reconciliation gets more complicated when the transaction volume is very high. The objective of Surf Accounts is to make the reconciliation part more simple and user friendly. The “reconciled” transaction will be directly tied to a specific “Bank Reconciliation”; this will be beneficial to the user. This will allow the user to get back closer to the exact position they were in. 

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Create a New Bank Reconciliation

To create a New Bank Reconciliation select the “Add” option for the toolbar. A pop up will appear on the screen to set up the Bank Reconciliation. System will prompt for the “Statement Date”; “The Bank Account (along with the nominal code)”; “Statement Balance” & “Notes”.

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Statement Date: For Bank Reconciliation the statement date is one the most important column. Bank Reconciliation will be allowed till the Statement Date you select. While reconciling a pop up will appear and the first column will be Statement Date.   

Bank Account Code: Select the Bank Account code (Nominal Code ranges between “771” to “784”) with which you want to reconcile the amount.  The Account Group will be Bank and Cash Accounts in the Balance Sheet.” For e.g. if you are allocating a receipt with your Bank Deposit Account the Name of the Bank will appear followed by the nominal code as “771”.  In case if you wish to add any bank account you can “Add” the Bank Account from the “Chart of Accounts” part of Surf Accounts.     

Statement Balance: Enter the amount you want to reconcile in the Statement Balance. For e.g. if you are entering a Statement Balance of 5000.00 then the reconciliation amount will be 5000.00; then the balance per Bank Statement will be 5000.00 in the Reconciliation Browse.

Notes: Enter the notes you want to add in the “Notes” field. This note will be reflected in the Bank Reconciliation Browse. However this “Notes” will not appear after generating the Bank Reconciliation Report. This is not a mandatory field. 

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Opening an existing Bank Reconciliation

If you wish to open an existing Opening Bank Reconciliation Report select the “Open” option followed by the “Add” option. This feature will allow editing the previous reconciliation carried out by the user. Once the Year End for the business is being carried out system will not allow to editing the Bank Reconciliation. Apart from “Year End” if the VAT Report is generated and closed for the period system will not allow any further modification in Bank Reconciliation. 

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The Header and Bank Account Name and the Statement Date:  The header of the browse will contain the search field along with the General Lodgement checkbox. If the check box is checked then the lodgement will appear on the screen.

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Group Lodgement: If you wish to view only the Group Lodgements in the browse to Reconcile select the Group Lodgement check box. Only lodgements will appear on the screen. 

Browser View of Bank Reconciliation page while group lodgement is not checked. 

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Browser View of Bank Reconciliation page while the group lodgement is selected. 

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Header: Header displays the name of the Bank Account along with the Statement Date.

Balance as per Surf Accounts: This displays the value of the General Ledger for that bank account up to the statement Date; it is calculated on the fly.

Balance as per Bank Statement: This displays the value being entered on the New/Open Bank Reconciliation Form.

Un-Presented Payment: This refers to all Payments (for the Bank account) which have not been “ticked”. Payments up to the Statement Date should only be included.

Less un-presented Payment: This displays the un-presented payment which will be deducted.

Plus un-presented Payment: This displays the un-presented payment which will be added.

Reconciled Balance: This displays the difference between Un-presented Payments and Un-presented Receipts.

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Printing an existing Bank Reconciliation

If you wish to print the bank Reconciliation Report from the split select the Print option from the Bank Reconciliation Browse followed by the “Delete” option. The Report will be generated in another browse from where you can print the Report. 

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Once you click on Print you will be presented with the following screen. Alternatively you can access this page via Reports » Bank Reconciliation » Run.  

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Print the Bank Reconciliation Report

To print the Bank Reconciliation Report, select the “Print” option from the toolbar. A print preview will be generated and by choosing the print option from the preview page you can take the print of the report. 

MS-Excel

If you wish to download the Bank Reconciliation Report into MS Excel select the Excel option from the toolbar. The report will be downloaded into spreadsheets for further calculations. The following screen will appear. 

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Save

If you wish to “Save “the Bank Reconciliation Reports select the save option and the report will be downloaded to your local computer as a PDF file. 

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Email

To mail the Bank Reconciliation reports select the email option from the toolbar. A mail dialer pop up will appear.

To:  In the “To” field enter the recipient’s email address.

CC/BCC: In the “CC/BCC” field enter the email address of the recipient you want to make a copy of the email.

Subject: Enter the subject line in the subject field.  

Attachment: The Report will be attached as an attachment

The Report will be attached as a PDF file and the recipient can download the attachment to the local machine/ device.  

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