The state of a bank reconciliation is used to verify that the entries accounting that appear on the bank account of your company use the lines of the or bank statements in an accurate and exhaustiveMost of the time, the state of a bank reconciliation is in the form of a summary table of the anomalies listed in the bank reconciliation. This last is for him to point out the accounting of the bank, visible on the bank account statements of the company, and to compare it with the account of the company. If it is not mandatory to establish a state bank reconciliation, this tool book ensures the actual situation of the cash. It also contributes to the control of the quality of the bookkeeping. Even so, making a bank reconciliation is an operation which is often tedious and time-consuming. They can save time and improve the added value of administrative staff members is often more useful when they raise the customers that when they do the score book. Closer to the bank account of the company accounts with bank statements allows accountants to identify discrepancies between the dates of the receipts and payments entered in the accounting dates actually taken into account by the bank. It also allows to reveal anomalies of entry book which must be cleared: to Do a bank reconciliation regularly is a essential step that allows the validation of the"cash"follow-up book. An error in the cash flow may lead to consequences more or less important on other work or documents prepared from the accounting monitoring of cash: When the company settles a debt by cheque or bank transfer, the posting date of disbursement must match the date of issue of cheque or realisation of the transfer, even if the account will be debited later. When the company receives a payment by cheque, the date of recognition of the collection must correspond to the date at which the cheque was given to the bank. In case of bank transfer, the posting date must match the date of receipt of the notice of credit, even if the account is credited later. Companies must use a bank account to function The accounts of the company and the bank are reciprocal and in the opposite sense. Bank fees for example, represent a burden for the company but a product for the bank. So far, the accounting of the company concorde rarely with the bank statements from his bank, in particular, because the recording dates of operation accounting differ. For example, if the bank records a bank charge or registering the transfer of a customer to a date, they will not be seen by the company as to the reading of his bank statement with of days of lag. And even if the internet reduces the time of consultation of the statement, there is still a difference.
The bank reconciliation allows you to verify that no error has crept in the accounting entries related to the bank account on a given period of time.
Achieve a state of bank reconciliation requires comparing the bank account statements of the reporting period, cash movements past and present, and the accounting entries made on the account. It is possible to do a bank reconciliation on paper, or using a spreadsheet. The more often the manual pointing is done on a monthly basis, here is the methodology that we recommend. The first step is to gather the following items: The bank reconciliation involves comparing the bank statements and the account bank the accounts and note the differences. Each time a gap is pointed, it can be explained by an error and must be corrected or by a special feature (shift operation in time, the imputation-specific regularization in progress). When the discrepancy was explained by a specificity of accounting, it must be deferred in a state of bank reconciliation. This synthetic document will track all discrepancies and to ensure, at final, that all differences explain well the difference between the balance of the last bank statement of the period and the balance of the count bank accounting.
The state of bank reconciliation will be prepared in the form of a table which may, for example, take the following form: The state of a bank reconciliation will be communicated to the accountant who who will be used to update its bookkeeping.
For all that, if this document facilitates the recognition of streams, it is not exportable to its management software and does not make him win a lot of data entry in accounting. To avoid a time-consuming and tedious, we recommend that you do your bank reconciliation statements regularly or use a tool of bank reconciliation. Perform a bank reconciliation manual is a task time-consuming which does not add value. Nowadays, it is possible to have access to excellent tools, secure, and does not require specific investment and provide a solution tailored to the needs of the majority of VSES and SMES. Most of the time, the person in charge can perform other tasks with higher added value such as the recovery client, for example, businesses equipped with a management software or accounting software can typically use it to do their bank reconciliation. This solution is only feasible if the software of accounting is used and up to date. The scoring of the operations is then automated on the basis of the accounting documents or directed by the accounts team. Most accounting software offer a assistance in bank reconciliation, or a feature to automate this task. The accounts team can then arrange for a reconciliation regular allowing him to have a precise monitoring of its cash. Some accounting tools online allow you to automate the lettering and bank reconciliation. Some ERP online offer an option lettering that facilitate the work of the administrative team.
Thus, a creator, a leader of TPE or the accountant of a SME can link their ERP with a bank reconciliation module and facilitate the work of the accountant. This may be an opportunity to review the accounting rates The use of a tool of a bank reconciliation in Saas mode, we seems to be a solution to consider.
A tool of reconciliation online banking may involve many leaders who want to use their time and or their team to something other than the score administrative.
