Bank Reconciliation

3 easy and simple steps

The reconciliation process can best be described in three (3) simple steps:

Download the bank transactions format for the period from your bank’s website into a text, csv or MS Excel® format.
Download your book’s transactions for the period from your existing accounting system (e.g., Great Plains®, Financial Reporting®, etc.) into a text, csv or MS Excel®
Using Ezy Reconciliation software, specify the name of the files from step 1 and step 2. Then click the reconcile button. After a few minutes, review the result which is a two column AICPA bank reconciliation format (i.e., from unadjusted book and bank balances to adjusted book and bank balances.

You did read it right, you do not have to do anything except define the files. If you can do those simple steps listed above, then your reconciliation is done. Download an actual working copy. Use it for free for 2 months- we will even support you during your trial period. If EzyRecon did not save you time in your bank reconciliation, discard it and charge it as a bad experience- no need to pay for anything. What are you waiting for? What do you have to lose? No matter what, you will spend time doing your bank reconciliation. Let us show the best way to do it. We will even do your first reconciliation for you for free of charge. Download a free copy of EzyRecon.

Frequently-Asked Questions

(1) How many process do I need to go through to prepare the bank reconciliation using EzyRecon? How long will it take EzyRecon to reconcile a book transactions (i.e. checks and deposits) of about 1,000 items?

Literally, you need to go through a three (3) step process. The steps are 1)define the book transaction file, 2)define the bank transaction file and 3) click the reconcile button. That is all there is to do! You can take a cup of coffee and your final two column bank reconciliation will be done when you return back to you desk. However, you still need to review the result of the reconciliation for correctness.

(2) I gather that all I need to do is define the book and bank files and click the reconcile button to do the bank reconciliation. This is a pretty fancy statement. Supposing the bank reconciliation has some errors due to void checks, can you change the "Main Report" to reflect the correct reconciliation?

Yes, you can manually change the top sheet or the "Main Report" to reflect the correct reconciling items. Since this is in MS Excel® , you can change the report as you deem correct. We suggest that you change the supporting working papers too in order for the data to flow through the system. For example, if the amount of outstanding checks is overstated due to a void check, then, change the working paper for the outstanding checks ( see manual for more additional information).

(3) We bank with four (4) different banks. Can we use this EzyRecon on these four different banks?

Yes, however, you may need to set-up four (4) different files for each bank. This is due to the fact that each bank may have a different way of presenting the downloaded information.

(4) How long will it take to implement the system?

Since the system is using the MS Excel® as the user interface and point of data entry, it is easy to implement. The system can be implemented in less than 20 minutes after installing the program file. The program can be downloaded from our website in less than 2 minutes.

(5) Is there a need to set-up the systems' parameters? If so, how long will it take to set them up?

The system parameters can be set-up in less than 20 minutes- it is a simple fill the blank excel data entry.

(6) Can I use the EzyRecon with any accounting package?

Yes, provided that your accounting package can export your general ledger transactions and check register in a text, csv or MS Excel® format.

(7) We are using ADP® for our payroll processing. Thus, the check register is in generated through ADP® report format. However, our general ledger system is in another accounting software and generates the general ledger transactions in a different format. Can I still use EzyRecon to generate the bank reconciliation?

Of course, as long as you can convert the general ledger and the check register in a text, csv or MS Excel® files. They do not need to come from one system source. Also, they can be in two different file formats and file locations. By the way, ADP® reports can be converted into an MS Excel format.

(8) Our deposits are sometimes broken into 2 or 3 amounts in the books while in the bank these deposits are lumped as one amount. Sometimes, it is the opposite, the bank shows them in 2 or 3 amounts while it is recorded in the books as one lumped sum amount. Do we need to group them manually to match against the bank deposit or vis-à-vis books?

No, as mentioned earlier, you don't need to do anything except define your book and bank files. You can take a sip of coffee and your bank reconciliation will be done. However, you still need to review the result of the reconciliation for correctness.

(9) Will the EzyRecon be able to detect those data entry errors (e.g. deposit entered as $450.00 instead of $540.00)?

Yes, again, you can take a sip of coffee and let EzyRecon do the work for you. It will highlight those data errors as under or over stated amount. However, you still need to review the result of the reconciliation for correctness.

(10) Will the EzyRecon provide me with enough audit trail to review the resolved and unresolved items?

Yes. Items that may need your closer review are highlighted for emphasis.

(11) Will the EzyRecon be able to recognize book errors that needs to be shown under the book instead of the bank column?

Yes, if you flag it as "BKADJ" in the source or batch- this will send a signal to the system that this batch is a book adjustment. All you need to do, is change your batch description to read "BKADJ" ( see manual for additional information).