Bank reconciliationMark bank entries reconciled and track cheques.
Mark posted bank ledger entries as reconciled, report reconciled and outstanding balances per account, and follow post-dated cheques from vouchers.
Shipping finance
Overview
Bank reconciliation in Sailix works on the bank ledger itself. Choose a bank account and a date range, and the screen lists the posted entries on that account as outstanding or reconciled. Tick the entries that appear on your statement, give them a reconcile date and remarks, and mark them reconciled. The same action can return an entry to outstanding.
Cheques have their own trail. Receipt and payment vouchers can be raised as PDC vouchers or carry cheque payment lines, and the PDC Collection and PDC Stock reports are built from those lines. Issued Cheques Tracking keeps a register of post-dated, current-dated, bounced and returned cheques, and the reports read the latest status from it by cheque number.
Capabilities
What it does
Reconcile by ticking
Select the entries that match your statement, enter the reconcile date and remarks, and mark them reconciled or outstanding. The status is stored on the ledger lines.
Filters for matching
Narrow the list by date range, debit or credit, voucher number and local or foreign currency amount to find the entry behind a statement line.
Totals as you work
The result set shows the entry count, money in, money out and net movement, with the reconciled or unreconciled amount in local currency.
Bank reconciliation report
For each bank account and currency, the report gives reconciled opening, debit, credit and closing, outstanding debit and credit, and the bank book balance, in Excel or PDF.
PDC reports
PDC Collection lists received or issued cheques by party and date range. PDC Stock shows cheques in hand or on a specific date. Both download as Excel or PDF.
Bank profile master
Bank Profile records each bank's name, address, contact person, BSR code and IFSC code, with free-text detail lines for anything else you need to note.
Workflow
How it works
First
Post the bank vouchers
Record receipts, payments and contra entries against the bank's ledger account as they happen, so the book side is complete before you reconcile.
Then
List outstanding entries
Open Bank Reconciliation, choose the bank account and the period, and search with the status set to outstanding.
Next
Tick against the statement
Work down the bank statement, tick each matching entry, set the reconcile date and mark the selection reconciled.
Finally
Run the report
Generate the Bank Reconciliation Report for the period and keep the Excel or PDF output with the month's working papers.
Questions
Questions and answers
Can Sailix import a bank statement for reconciliation?
- Not at present. Reconciliation is manual: you list the posted entries for a bank account and tick those that appear on the statement. There is no statement file upload or automatic matching, and no statement closing balance is entered on the screen.
How does Sailix track post-dated cheques?
- A receipt or payment can be raised as a PDC voucher, or carry a cheque or DD payment line with its number, date and bank. The PDC Collection and PDC Stock reports list those cheques, received or issued, with the status taken from Issued Cheques Tracking where a row exists.
How do I record a bounced cheque?
- Issued Cheques Tracking has tabs for post-dated, current-dated, bounced and returned cheques. Enter the office, bank, cheque number, date and amounts under the relevant tab and save. The entry is a register record and does not post a ledger voucher, so the accounting reversal is entered separately.
What does the bank reconciliation report show?
- One line per bank account and currency: reconciled opening, debits, credits and closing, the outstanding debits and credits, and a bank book balance that adds the two closings. You can filter by transaction, instrument or reconciled date and by office.
Related
Works with
Vouchers and journals
Receipt and payment vouchers, contra, purchase and sales journals, and credit and debit notes, each posting a balanced ledger voucher when saved.
General ledger
A chart of accounts with enforced levels, accounting parties created from customers, vendors and lines, cost centers, and financial year close and reopen.
Financial reports
Trial balance, profit and loss, balance sheet, general ledger, cash and bank books, and party ledgers, generated from posted ledger entries as PDF or Excel.
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