AccountsPrep - Bank Reconciliation Report

An overview of the Bank Reconciliation Report in AccountsPrep, and a resolution for 'Bank is not reconciled'.

AutoEntry Support Team avatar
Written by AutoEntry Support Team
Updated over a week ago

Objective

This overview will provide some main points on the Bank Reconciliation Report, a quick demo, and some tips on resolving an issue you may encounter.

Applies To

  • AccountsPrep integrated companies.

Procedure

From the Bank Accounts main page, there are two ways to access the Bank Reconciliation Report:

  1. Click the settings (cog wheel) icon to view reports/sections associated with that bank, and click Bank Reconciliation.

  2. Select the reconciled status button or unreconciled status button to go straight to the Bank Reconciliation Report for that bank shown as a green tick or a red 'x' to the left of the cog icon.

  3. There is also a link for the bank's own homepage.
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Quick Demo of a Reconciled and Unreconciled Bank Reconciliation Report

Additional Information

Why a Bank Reconciliation Report might show 'Bank is not Reconciled'

Firstly, remember that the transactions you add via Bank Statement batches must be exactly as they appear on the bank/financial account statement. Therefore, if you click to view the Bank Statement report, it should replicate the transactions in the bank statement exactly.
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You can access the Bank Statement report from the Bank Reconciliation Report by clicking the figure shown below:
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The Main Reasons for a 'Bank is not Reconciled' Status

  1. There are unmatched transfers in the bank account:

    • You will get this warning message in the Bank Reconciliation Report if this is the case:

      Note: There are currently unmatches transfers of xxxx.xx in this account. You will not be allowed to close the period while these remain unmatched. It may also cause problems reconciling the account.

    • In this case, you need to match transfers with the other bank statement data.

  2. Some bank statement data is still unposted on the account, meaning some lines haven't yet been coded to the General Ledger:

    • This will be highlighted to you in pink on the Bank Reconciliation Report itself, similar to this:

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