How to Perform Bank Reconciliation in Tracepos

The Bank Reconciliation feature in Tracepos helps users reconcile their bank statements with company records. Follow this guide for a step-by-step process to perform accurate bank reconciliation.

Accessing the Bank Reconciliation Page

1. Navigate to the Accounting section in the Tracepos dashboard.
2. Select Bank Reconciliation from the menu.

Steps to Perform Bank Reconciliation

The reconciliation process is divided into three steps:

Step 1: Upload Bank Statement

1. Download Sample File:

• Click the Download Sample File button to download a sample bank statement format.

• Drag and drop your bank statement file into the upload area or click to browse and select the file.
• Supported file formats: .xlsx, .csv.
• Ensure the file matches the required format.

• Click the Next button to move to the reconciliation step.

Step 2: Reconcile Transactions

1. Filter Transactions:

• Use the date range picker to filter transactions by date.
• Select a payment mode from the dropdown menu to filter transactions by payment type.

• Review the Unreconciled Bank Transactions table.
• Check the Match checkbox for transactions that match company records.

• Review the Unreconciled Company Transactions table.
• Check the Match checkbox for transactions that match bank records.

• Click the Submit button to save the reconciliation progress.

• Click the Next button to move to the summary review step.

Step 3: Review Summary

1. View Reconciliation Summary:

• Review the Bank Reconciliation Statement, which includes:
  • Opening Balance
  • Total Debits and Credits
  • Reconciled and Unreconciled Transactions
  • Ending Balance
• Ensure that the Ending Balance matches the Expected Bank Balance.

• Use the Export Table button to download the reconciliation report for your records.

• Click the Finalize button to complete the reconciliation process.

Key Features

• Step-by-Step Process:
  • The reconciliation process is divided into three steps for clarity and ease of use.
• Dynamic Filtering:
  • Filter transactions by date range and payment mode.
• Real-Time Matching:
  • Match transactions directly in the tables with checkboxes.
• Reconciliation Summary:
  • View a detailed summary of reconciled and unreconciled transactions.
• Export Reports:
  • Export reconciliation reports for record-keeping.

Troubleshooting

• File Upload Issues:
  • Ensure the file is in .xlsx or .csv format and matches the required structure.
• Unmatched Transactions:
  • Verify that the transaction details (e.g., amount, date) match between the bank statement and company records.
• Reconciliation Errors:
  • Ensure all required fields are filled and that the payment mode is selected.

Permissions

• Ensure you have the necessary permissions to access and perform bank reconciliation.