An entry in the management system must be able to be compared with the account statement. Linking movement and document makes it easier to understand which transactions are already reconciled and which require review.
Bank transactions and links to documents
- Open the account and select the period of operations to be examined.
- Read date, amount, description and link to invoices or other documents.
- Records permitted operations with recognizable reasons and verifies the sign of the movement.
- Re-read the balance and references before starting the comparison with the bank statement.
Reconciliation with the bank statement
- Open the account and prepare the statement for the period to be reconciled.
- Compare the banking operations one by one with the movements recorded in the management system.
- Match or label the corresponding elements according to their intended function and explore the differences.
- It retains the reference to the period and operations still to be clarified, avoiding double registrations.
Putting this into practice
For a collection, check the amount, date and customer reference. If the movement does not coincide, investigate the difference before confirming the pairing.
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