Bank reconciliation is a critical process in accounting that involves comparing the bank statement with the company's financial records. Reconciliation ensures that the financial records accurately reflect the transactions recorded in the bank statement.

 

Steps:

 

  1. Log into startaz.io
  2. Locate and click on the Accounting & Finance module
  3. Click on the Bank Reconciliation dropdown menu
  4. Select Reconcile Bank Entries from the available options
  5. This directs you to reconcile bank entries form. Complete the form by filling in the details i.e. Bank account, month, year, entries to view, view type
  6. Once done click on Submit to view all the entries
  7. To reconcile, tick on the check boxes at the far right of each transaction you are reconciling. 
  8. Once you have selected all the relevant transactions, scroll down to the bottom page enter the reconciliation date, click on Clear and Continue button to complete the reconciliation process