Bank reconciliation

Upload a bank statement, match each line to the books, post what is missing and sign off a bank reconciliation statement.

Bank reconciliation checks your bank account in the books against the bank's own statement. You upload the statement, match each line to what the books already hold, post an entry for anything the books are missing, and sign off when the two agree.

Before you start: you need Can post entries under Accounting ledger to upload and match; Can view shows the reconciliation without changing it. Your bank must be an account in the chart of accounts with the kind Asset.

Note: If you don't see this yet, the owner applies the waiting workspace upgrade — see Upgrade your workspace.

Upload a statement

  1. Open Accounting › Bank reconciliation.
  2. Pick the account in Choose the bank account… — for example 1110 · HDFC Bank Current A/c.
  3. Click Upload statement and choose the file the bank gave you: CSV or Excel (.csv, .tsv, .txt, .xlsx, .xlsm).
  4. The statement lines appear under To match.

The date, narration, money in, money out and running balance columns are found for you, including Indian number formats such as 1,25,000.00 and Dr/Cr amounts.

Tip: Upload the next month's statement whenever you like, even if it overlaps the last one. Lines you already uploaded are skipped; only new ones are added.

Match lines to the books

The view has four tabs: To match, Matched, Ignored and Reconciliation statement. Each tab shows how many lines it holds.

For every line still to match, AxisIQ looks for a ledger line on the bank account with the same amount within three days, and prefers one that shares words with the narration — a cheque number, a UTR or a customer's name.

  • Exact matches — same day, same amount, and the only candidate on both sides. Click Accept N exact matches to accept them all at once.
  • Suggested matches — open the line, check the suggestion under Match to ledger lines and click Match.
  • One deposit, several entries — a single bank credit of ₹48,000 for three customer cheques. Tick each ledger line; the dialog shows "Picked ₹… of ₹48,000" until the total is exact, then Match turns on.

Post what the books don't have

Bank charges, interest and direct debits often reach the statement before anyone posts them.

  1. Open the line. Under Or post it — the books don't have it yet, pick the other account — for example Bank charges for a ₹590 debit.
  2. Change the narration if you like, then click Post entry.

A toast says "Entry posted and matched". The entry is an ordinary journal entry on the line's date, so a period lock applies to it.

Ignore or undo

  • Ignore a line that should not be reconciled, such as an opening-balance row or a duplicate. Confirm Ignore this statement line?. It moves to Ignored; Bring back returns it.
  • Unmatch on a matched line puts it back under To match.

Reconciliation statement

Open Reconciliation statement for the bank reconciliation statement (BRS) on a day.

  1. Set As of.
  2. Enter the Statement balance from the bank statement for that day, or leave it blank to use the last balance printed on the uploaded statement.
Figure What it is
Balance as per books The bank account's balance in your ledger on that day.
Adjusted for outstanding items The book balance plus lines on the statement but not in the books, less entries in the books but not yet on the statement.
Balance as per statement The bank's figure.
Difference Should be zero.

Below the figures, On the statement, not in the books and In the books, not on the statement yet list the outstanding items — for example a cheque you issued that the supplier has not yet banked.

When the difference is zero, click Mark reconciled through . The page then shows Reconciled through , and every line on or before that day is frozen: "This line is inside the reconciled period and can't change."

Troubleshooting

"The statement and the books don't agree yet" Match, post or ignore the remaining lines, or check the statement balance you entered.

A line shows no suggestion Nothing in the books has that amount within three days. Match it by hand, or post an entry for it.

The bank account is not in the picker Only asset accounts (and accounts with no kind) are offered. Set the account's kind to Asset in the chart of accounts.