To speed up and eliminate potential errors during the reconciliation process, Agrimaster offers the ability to automatically reconcile bank transactions that have been imported into Agrimaster from your bank.
With automatic reconciliation:
- All transactions downloaded from the bank will be automatically reconciled
- Any transactions downloaded not already entered into Agrimaster, Agrimaster will create entries of those transactions for you, and all you need to do is code them accordingly
Before you proceed with automatic reconciliation, bank transactions need to be imported into Agrimaster first. Read more...
To automatically reconcile your transactions:
- After importing your transactions, the screen shown below appears
- Select cheques to export to cashbook: Displays a list of cheques on the bank statement not yet entered into the cashbook
- Select non-cheque debits to export to cashbook: Displays all debits that are not cheques on the bank statement not yet entered into the cashbook
- Select credits to export to cashbook: Displays all credits on the bank statement not yet entered into the cashbook
- Clear uncleared debits found in cashbook: Displays all uncleared debits on the bank statement not yet entered into the cashbook
- Clear EFT and deposit batches: Displays all EFT Batches on the bank statement and in cashbook
- Clear uncleared credits found in cashbook: Displays all uncleared credits on the bank statement not yet entered into the cashbook
- View cheque(s) with incorrect total: Displays any cheques that have been entered into the cashbook but differ to the amount showing on the bank statement. These will need to be edited before continuing
- Export and edit selected transactions: Exports all selected transactions into Agrimaster. You will be asked to edit the transaction details to add codes, enterprises and allocations. The amounts re imported from the transaction history
Active options (clickable, not grey-out): Indicates there are entries present for this month)
Deactivated options (clickable, greyed out): Indicates there are no entries for this month)
- Statement: Click to view your statement data
- Closing Balances: Shows the closing balance for the statement (not available for all banks)
- Cleared Debts: Lists all the debits cleared on the statement for the selected month.
- Cleared Credits: Lists all the debits cleared on the statement for the selected month
- Cleared Batches: Lists all the EFT Batches cleared on the statement for the selected month
- Default Codes, Names: Allows you to automatically code receipts and payments that are dealt with in the same manner each month. To set up, read more...
- In numerical order, click the first active option
- Click Select All to highlight all entries. Or, to select multiple items, hold the CTRL key down and select the required entries
- Click the green tick to export the selected entries to Suspense Payments for coding
- Repeat Steps 2 to 4 to complete the process for the other active options
- If the View cheque(s) with incorrect total option is active, click to view and edit before continuing
- Click Export & edit selected transactions for all transactions on the bank statement highlighted in Steps 1 to 3. They will now be exported to the cashbook using the details that are available. One split will be created, using the suspense codes selected when setting up online banking
- When the export is complete, the Edit Transaction from Reconciliation window will display with the first exported transaction ready for editing. Enter the name and edit the splits where necessary. Do not change the bank account, cheque number or date
- Click the green tick or press F10 to save
- Edit the next transaction. Repeat until all done, then close the editing window.
If there are no variances, the bank account will now be reconciled.
- Once all accounts have been reconciled for the end of the month, print the Monthly Report, Budget Comparison and Cashbook Summary as per normal. Now close the month.