How do I add a manual bank entry in a statement and reconcile it with the Metro accounting system?
To add a manual bank entry in a statement and reconcile it with the Metro ERP's Accounting App, follow these steps:
1) Go to the Accounting Module. By Clicking on the 'Accounting' application.
2) Navigate to the Accounting > Bank Statements menu.
3) Click on the create button.
4) Fill in all the necessary details, including the journal, date, starting balance, ending balance, and transaction details, then click the 'Save' button.
Add a Line for Each Transaction:
- In the statement lines, click on Add a Line.
- Fill in the details for each transaction:
- Date: The date of the transaction.
- Label: A description of the transaction.
- Partner: The partner involved in the transaction (optional).
- Account: The relevant account for the transaction.
- Amount: Enter a positive amount for a credit (money coming into the bank) and a negative amount for a debit (money going out of the bank).
Reconcile Positive and Negative Entries
- For positive entries (deposits/credits), match them with the appropriate invoices or customer receipts.
- For negative entries (withdrawals/debits), match them with vendor bills or expenses.
5) Now, you need to click the 'Post' button to initiate reconciliation.
6) Next click on the 'Reconcile' button.
7) Next Click on the Validate button.
8) Finally, you will see the congratulatory screen.
9)Now Go to “Accounting>Journal items” to view all the journal items created for the bank statement.
Please Click Here to watch this video for more details on how to do a bank reconciliation manual statement.
To get more details on how to add a manual bank entry in a statement and reconcile it with the Metro accounting system, please do contact us at support@metrogroup.solutions