Help / Purchases and banking

Start a bank reconciliation

Check an account's books against the bank statement, one statement at a time.

Reconciling means proving that what your books say matches what the bank says. Legasum does it manually: you type or import the lines from a real statement, then match each one to an entry in your books. There is no live bank feed. Open Accounts > Reconciliation or go to Reconciliation. You need access to the Reconciliation module.

Before you start

Have the statement for the period in front of you, with its closing balance and date. The account must already exist in Cash & Bank Accounts.

Start a session

1. Click Start Reconciliation.
2. Choose the Bank Account.
3. Set the Statement Date and the Statement Closing Balance from the statement.
4. Click Start Session. The session opens straight away.

The page, called Reconciliation Center, also lists every session with its account, date, closing balance, Status (In Progress or Completed) and an Open button, plus counts of sessions in progress and in total.

Only one session can be in progress per account. If you try a second you see "There is already a reconciliation in progress for this account. Complete or cancel it first."

The session screen

Four cards show:

• Statement Closing Balance - what you typed.
• Cleared Balance - the opening position (everything reconciled in earlier completed sessions) plus what you have matched in this one.
• Difference - closing balance minus cleared balance. It turns green at 0.00.
• Status.

Below are the buttons Add Statement Line, Import Statement, Complete Reconciliation, Cancel Session and Download Report, then the Statement Lines table and the Unmatched & Unknown Queue of lines still needing attention.

Enter the statement lines

• Add Statement Line - enter the Date, Description, Amount (+ in / - out) and an optional Reference. The amount cannot be zero and the description is required.
• Import Statement - click Download Template and fill in the columns Date, Description, Amount, Reference, then upload the file, Preview, and Commit Import. You get "Import complete: N line(s) created, N failed."

Money in is positive and money out is negative, exactly as on the statement.

Next, match the lines to your books and complete the session.

Cancel or download

Cancel Session (after confirming) deletes the session and returns everything it cleared to uncleared. Download Report saves a CSV of what is still unreconciled, and is available for completed sessions too.

Good to know

• Entries counted are the posted entries on that account dated on or before the statement date.
• A completed session is a historical record. To correct it, start a new session.
• Fix mistakes in the books first (void and re-enter the payment, for example), then match.