Bank Statement Batches allow you to import/enter bank statement data from the client's bank accounts.
Bank Statement data should be entered exactly as it appears on the statement issued by the financial institution in terms of:
Transaction date
Payment amount
Receipt amount
You can edit and improve the bank's statements Details and Reference fields as you need.
How to Access - Add Bank Statements Data
There are numerous ways to get to the same import page in AccountsPrep, but here are two ways:
From Banks > Bank Statements > Bank account > Add Bank Statement Data
From Banks > Bank accounts > Add Statement Data
Add Statement data options
The import page offers three options to choose from.
Use AutoEntry Statement Capture
This allows you to import data already extracted from paper/PDF statements in AutoEntry's Bank Statements folder.
Import data using a CSV file
This allows you to use one of our import templates for adding statement data.
If you select this option, the next page provides templates for you to use:
Remember to save the file as a CSV before importing the template.
Enter data on-screen
You can add your data directly on-screen.
📎NOTE: Entering data directly requires you to code each transaction to the general ledger before posting. The import options, however, will allow you to load the statement data into an 'unposted' state at first, and you can then code the transactions later.
Key Things to Remember
Transfers: If there’s a payment to (or receipt from) another internal account which is set up as a bank account, you’ll need to follow the process for a bank transfer.
Cheque reconciliation: If there are payments which need to be reconciled/matched with outstanding cheques, visit Matching Bank Statement Data with Cheques to Reconcile.
Deposits reconciliation: If there are receipts which need to be reconciled/matched with outstanding deposits, follow the same method as cheques (above), but for deposits instead.
Splitting transactions: If you need to split a payment/receipt amount between two or more accounts, visit our guide showing how to split transactions.
Checking the Accuracy of Bank Statement Data
After posting bank statement batches, you should check the Bank Statement report to ensure it’s consistent with the bank statement from the financial institution.
You can also use the Bank Reconciliation report to check the statement against the ledger.
Finally, if there are inconsistencies, remember to ensure that the opening bank statement balance was posted correctly.