How it works - Bank Reconciliation: bank reconciliation software
How it works
Steps to do Bank
reconciliation using EzyRecon
Step 1) Download the
bank statement into an Excel or csv file format- no bank format is required.
Step 2) Download the
book file as is from your accounting system into an Excel or csv file format (.e.g.
SAP, Great Plains, Oracle, Navision, etc.).
If your books do not show the check number, you need to download the check register that shows the check number. Make sure that the total of the check register agrees with your total disbursements. If you are reconciling a payroll account, your check register will come from a different system (e.g. ADP and others). The total of the check register should agree with your total disbursements. The same is true for deposits. If you are recording the deposits in total, you need to have a deposit breakdown of how the deposits hit the bank.
If your books do not show the check number, you need to download the check register that shows the check number. Make sure that the total of the check register agrees with your total disbursements. If you are reconciling a payroll account, your check register will come from a different system (e.g. ADP and others). The total of the check register should agree with your total disbursements. The same is true for deposits. If you are recording the deposits in total, you need to have a deposit breakdown of how the deposits hit the bank.
Step 3) Hit the
reconcile button, wait for 3 minutes, review AICPA format two column
reconciliation from unadjusted to adjusted book and bank balances. The final
reconciliation report has adequate audit trail and complies with the
Sarbanes-Oxley Act.
If needed, the system
can prepare the necessary journal entries on the fly to record each reconciling
item based on your own chart of accounts complete with an audit trails and
explanation.
If the above instruction is too complex, send us your book and bank files, we will do the initial setup and reconciliation for you free of charge-no pressure to buy. We will send it back to you for you to run from your end. The best way to test the program is to use actually your own live data.
