Matching your Bank Statements

Through this new feature, you can reconcile the financial transactions that occur on the bank account with the corresponding disbursement and receipt transactions in your account on the system. This helps you manage the financial situation more efficiently and issue a comprehensive statement that clarifies the source, description, and bank reference of the financial transaction.

Matching the Bank Transactions with the System Transactions

• Click on “Finance” from the main menu.
• Click on “Treasuries & Bank Accounts”.
• Choose the bank account you wish to reconcile its transactions.
• Click on “Bank Statement” within the bank account options.
• Click on the “Match” button at the top of the screen.
• Select the bank transaction and its equivalent in the system transactions. You can search by the journal number or description.
• Click on “Match” at the bottom right of the screen.
  • Note that the value of the bank transaction must be equal to the value of the transaction in the system to proceed with reconciliation/ matching. If it is less, you can then adjust the difference of deposit or withdrawal. The system will automatically take you to the creation screen of a payment or receipt voucher, asking for your approval. Otherwise, the matching process will not be completed.
• Click on “Finish Matching and Close“.