> Cash Book / Reconcile bank account / Reconcile electronic bank statement / Import and reconcile statement

Import and reconcile statement

To reconcile a statement electronically

Open: Cash Book > Period End Routines > Bank Reconciliation.

  1. Select the bank account.
  2. Enter the Statement End Date and Statement End Balance. These are in your electronic banking software.

    The Statement End Date and Statement End Balance can be amended after you import your bank file. From the file menu on the Reconciliation window, select Tools > Amend Bank Statement Details.

  3. Click OK.
  4. To import transactions select File > Import Bank Transactions.

    Note: If you import a file with half a day's transactions, any transactions from the rest of that day will not be included on subsequently imported files. If this happens, you will need to delete all the imported transactions for that day and import the file again.

  5. Open the folder containing your bank file.
  6. Select the bank file you want to import from the list displayed, and click Open. The bank information is displayed.

    To limit the transactions displayed, enter a date in the Bank Transactions to box and Sage Transactions to box.

    When reconciling you will see several values. They show the following:

    Book Balance at Date

    This is the trial balance in the Cash Book.

    Statement End Balance

    This is the balance on your bank statement.

    Difference

    This is the difference between the transactions you have reconciled and the Statement End balance. As you match each transaction, the Difference reduces to zero, if all transactions are correctly matched.

    If there are no bank charges or interest in the imported file, that have not been entered on the Cash Book, you will need to add these separately.

  7. Match the transactions using one of the following methods. We recommend that you use both the automatic and manual matching options.
  8. Automatic

    You can match transactions by amount (Match Amounts), by reference (Match Refs), or both (Match Full).

    The transactions will update to show the matches. If several possible matches are found, a Duplicate Transaction window appears for you to make the final selection.

    Manual

    Select a transaction from the Bank transactions list and the matching one from the Sage transactions list. Then click Match Manual.

  9. To save the matches made, click Confirm. The Conf column updates to confirm matched transactions.

    Note: This is done for you if you have chosen to Automatically confirm Manual Matches when setting the matching facility.

  10. To ignore all confirmed and matched transactions and start again, click Discard.
  11. To complete the reconciliation process, click Reconcile.

Go to top