How to Perform Bank Reconciliation in Tracepos

Bank reconciliation is the process of matching the cash balances in your physical bank account with the cash balances recorded in your Tracepos ledger. This ensures that every transaction entering or leaving your business is accurately accounted for, helping you easily catch missing payments, bank charges, or data entry errors.

The Tracepos Bank Reconciliation wizard makes this process fast, secure, and highly automated. Here is your step-by-step guide to perfectly balancing your books.

Step 1: Upload Your Bank Statement

Before you can match transactions, you need to tell Tracepos which bank account you are reconciling and provide your statement.

1. Select the Bank & Period: Use the top filter bar to select the specific Bank / Payment Mode and the Date Range you want to reconcile (e.g., June 1st to June 30th).

2. Upload Your File: Drag and drop your downloaded bank statement into the upload box. Tracepos securely accepts both .csv and .xlsx (Excel) formats.

3. Map Your Columns: Because every bank formats their statements differently, you will need to tell Tracepos how to read your file.

• Single Column Format: Choose this if your statement has one single "Amount" column and a separate column that says "DR" (Debit) or "CR" (Credit).

• Dual Column Format: Choose this if your bank separates withdrawals and deposits into two entirely different columns.

4. Match the required Tracepos fields (Date, Description, Reference, Amount) to the column headers from your file.

5. Click Preview Import Data to verify your amounts look correct, then hit Import Now.

Note: If you have pending transactions waiting to be matched from a previous upload, you can select your bank and dates, then click Resume Previous Reconciliation to return to where you left off without uploading a new file.

Step 2: Reconciling Transactions

Once your statement is imported, you will see your Bank Statements on the left and your Tracepos Ledger (Payments and Manual Journal Entries) on the right.

Option A: Auto-Match (Recommended)

Click the Auto-Match Exact button at the top of the screen. The Tracepos engine will scan your ledger and automatically pair any 1-to-1 transactions that share the exact same amount and direction.

• Smart Matching: The system automatically allows for a 2-day bank clearing grace period, so if you recorded a payment on Monday but it hit your bank on Tuesday, Tracepos will still catch it.

Option B: Manual Matching

For transactions that don't automatically pair (like multiple smaller receipts that make up one bulk bank deposit), you can match them manually.

1. Check the box next to one or more items on the Bank Statement side.

2. Check the corresponding boxes on the Tracepos Ledger side.

3. Look at the sticky calculator at the top of your screen. The Difference must be exactly 0.00.

4. Once balanced, click Reconcile Selected.

Handling Missing Entries (e.g., Bank Fees)

If you spot a transaction on your bank statement (like a monthly maintenance fee or SMS charge) that hasn't been recorded in Tracepos yet:

1. Click the + Create button next to that specific bank line.

2. Select the correct Ledger Account (e.g., "Bank Fees").

3. Add a quick note and click OK. Tracepos will instantly create the journal entry and reconcile it for you in one click.

Step 3: View History & Undo Mistakes

Mistakes happen! If you accidentally match the wrong transactions together, it is easy to fix.

1. Click the View History button in the top menu.

2. This opens a window showing your recently reconciled items, color-coded so you can easily see what was matched.

3. Find the mistake and click Undo. The transactions will immediately separate and drop back into your active matching queues so you can try again safely.

Step 4: Summary Review & Export

Once you have matched your transactions, click Review Summary at the bottom of the screen to view your final Bank Reconciliation Statement.

This page provides a strict mathematical breakdown of your accounts, including:

• Your Opening Balance

• Total Bank Credits & Debits

• Any Unreconciled Amounts (Pending transactions)

• Your Expected Bank Balance vs. your Current Tracepos Balance

If the Difference at the bottom reads 0.00, your books are perfectly balanced! You can click the export button to generate a clean PDF report for your files.