The bank reconciliation is a process that ensures the financial data entered into the system matches the actual transactions in the bank, ensuring the accuracy of records and reports.

 The bank reconciliation process can be found by selecting the Nominal tab on the CPL home screen and by clicking the Bank Reconciliation icon in the action bar:

Use the Bank drop-down menu to select the bank account you wish to reconcile and choose the To Date for the reconciliation. Click Load Transactions to display the transactions that need to be reconciled:

An information display will assist you during the reconciliation process, showing the starting bank balance, the total amount selected for reconciliation and the closing balance, which is referred to as the System Reconciled Balance.

When you click on Load Transactions, the transactions requiring reconciliation will appear in a grid, as shown below:

You can sort the information by clicking on a header and group the data by dragging the header into the box above:

Transactions are organised by batch number and categorised by development, with subtotals displayed for each batch's transactions linked to the respective development:

A breakdown of these subtotals can be viewed by selecting the line item you wish to drill into and clicking Batch Report at the bottom left-hand side of the screen:

Once you’ve confirmed that the transactions recorded in the system match those on the physical bank statement, click the box under the Reconciled header to mark the entry as reconciled:

To post a timing adjustment, use the adjustment function. Select the batch entry that requires the adjustment, then fill in the In Date and Out Date fields along with the reference, description and adjustment amount.

The In Date will always post the amount specified in the Amount box, while the Out Date will post the contra transaction. If you wish to post the In Date as a credit, enter a negative value in the Amount field.
Once you are happy with the adjustment, click Post Adjustment:

You can save your progress on the reconciliation to complete at a later date by selecting Save Reconciled State.

Once you are satisfied that your System Reconciled Balance matches your Bank Statement Balance, you can right-click on the grid and export the information to save for your records:

To finalise the reconciliation, click the Reconcile button in the bottom right corner of your screen:

The following message will appear to confirm if you are happy to proceed:

Bank Reconciliation is now complete.