Bank Reconciliation Statement allows you to compare the organization’s bank account records to the bank’s records of the organization’s account balance in order to uncover any possible discrepancies. BRS allows you to update the status of a transaction and check if there are any irregularities.

Fields & its description:

• Bank Name

Enter the name of the bank where this transaction takes place.

• Account Name

The account name should be selected in this field.

• Period

Filling the period dates allows the system to retrieve all the transactions of the selected account during that period.

• Amount 

Specify the amount range to display those transactions.

• Type

Select the type which can refer to Issued or Received.

• Status

Pending, Deposited, Realised, Bounced, Hold and Cancelled are the various statuses available. After selecting the status, click on the Load button to load the related entries in the table below.

• Date

On the right side of the screen, there are several status buttons provided. These buttons are for updating the status of the transactions in the table.

E.g. After entering any period and amount, you require all the pending transactions so you select the status as the same. This will load all the pending transactions during that period with that amount range. Once the table has loaded all the pending transactions, you can update their status as realised by clicking on the Realised button.