About TurboCASH

To use this facility, the View all bank statements option on the Setup - Preferences - Data Parameters menu option must be selected.

If the View all bank statements option on the Setup - Preferences - Data Parameters menu option is not selected, the Batch Entry Mode for the Bank Reconciliation will be displayed.

Once your receipt transactions have been entered in the Receipts Journal or batch and the payment transactions have been entered in the Payments Journal or batch, for a specific month or period, you may reconcile your cash book (payments and receipts batches) with the bank statement. Before you may start to reconcile the bank statement is received by post or fetched from your bank or financial institution.

If you are registered for online banking, you may download a bank statement from your bank or financial institution or import a bank statement, which is saved in a valid file format on your system. If you reconcile the bank statement, in the Input - Reconcile Bank menu option, you may then select to display the bank statement transactions to reconcile with the unreconciled items for the receipts and payments batches.

If you have any repeating entries setup for your receipts batch and payments batch in the Edit - Repeating Entries menu option, you need to copy them to the normal batch as they will not reflect in the cash book for a specific period when doing the Bank reconciliation. Examples of such entries in the receipts batch would be amounts (debit orders) paid into your bank account on a monthly basis). Examples for the payments batch would be amounts (debit orders) paid out of your bank account on a monthly basis).

TurboCASH allows you to reconcile your Bank Accounts before you update or post your Payments and Receipts Journals to the ledger. This will allow you to easily correct any errors found (edit transactions, insert transactions which is omitted, delete transactions which is entered twice, reverse all the transactions if entered on the incorrect side, etc., when doing the bank reconciliation. You may also enter any transactions (such as bank charges and interest), which is listed in your bank statement but does not appear in your cash book. You may post or update your batches after your reconciliation is completed, unless you are working on a "Client Machine" in a network environment.

To do a Bank Reconciliation Using a Printed Bank Statement:

Obtain the Bank Statement for the bank account you need to reconcile. The following is an example of a Bank Statement:

Click on the

speed button or icon or click on the Input – Reconcile Bank menu option. You may also press the

and

keys or the

and

keys on your keyboard. The Reconcile Bank Account screen will be displayed.

Select and enter the following:

Option Description

Bank Account Select the cash book you wish to reconcile.

Include Items Until Enter or select the date until which you would like to include cash book transactions to be reconciled with your Bank Statement.

Bank Balance Enter the closing balance of your bank statement.

Click on the button and the Reconcile Bank Account screen displaying the name of your current account will be displayed. This screen will list all the transactions Receipts and Payments Journals or batch for the selected cash book for the selected period. These entries represent your unreconciled items.

If you have more than one transaction with the same reference number (deposit or cheque number), you may click on the Consolidate speed button or icon. This will group the transactions with the same reference number together and it will display one amount, which can then be matched with the bank statement.
You need to mark the item appearing on your bank statement as reconciled in the last column of this screen. To do this you need to select the item and click on the reconciled field. You may also use the Up or down arrows and the spacebar on your keyboard to mark an item as reconciled or not. The items displayed on your bank statement also need to be ticked off on the printed bank statement.

You will find that not all the transactions would be selected or marked on the Reconcile Bank Account screen and the bank statement. These unmarked transactions or items are as follows:

Bank Statement - These unmarked transactions are not yet entered in your cash book (receipts or payments journal or batch). You need to exit this screen and enter the unmarked items or bank statement transactions in the cash book as follows:

Debits - enter these transactions in the payments journal or batch.
Credits - enter the transactions in the receipts journal or batch.

Once all these transactions are entered or if any errors are found at this stage and it is corrected, you need to access the Reconcile Bank Account screen again and mark any corresponding transactions.

No difference should be displayed on the bottom right-hand corner of the Reconcile Bank Account screen. If any differences are displayed, you need to find these differences and correct them.

Reconcile Bank Account screen - These unmarked items or transactions, which is not selected, represent outstanding deposits (receipts) and outstanding cheques (payments). These transactions will be reported in the bank reconciliation statement and should be displayed on the next bank statement.

Once this is done, and there is no difference displayed on the bottom left-hand corner of the Reconcile Bank Account screen, click on the

speed button or icon. The reconciled transactions on this screen will be removed and only the transactions or unreconciled items will be displayed. These unreconciled transactions or items will be displayed on the Bank Reconciliation Statement.

Click on the

close button to close or exit the Bank Reconciliation screen.

Click on the Reports - Bank Reconciliation menu option to generate a bank reconciliation report. This report will reflect the outstanding deposits and payments (cheques) and will reflect if there are any differences. If this report does not reflect any differences between the cash book and the Bank balance is in balance as at a specified date. This report will also enable you to determine whether bank charges and other debits or credits appearing on you bank statement are recorded in your cash book for the selected period.

If you return to the receipts and payments journal to add or to edit any transactions, the transactions, (which is marked or selected as reconciled items or transactions), will be displayed in a blue font colour.

The following speed buttons are available to help you to reconcile or unreconcile your cash book with the bank statement.

Icon	Description
	If you click on this icon or speed button, it will consolidate all entries in the selected cash book with the same reference number. If an entry is selected for which other entries exists with the same reference number, all these entries will be displayed in a different colour (blue). The total amount of all these entries with the same reference number, will be displayed as a Posted Payments item or Unposted Payments item or Posted Receipts item or an Unposted Receipts item. If you click on this icon or speed button again to set it off, all entries will be listed as individual entries with the same reference number will not be consolidated.
	If you click on this icon or speed button, the screen will split in 2 sections. The top section will display the details of the Receipts and Payments batches while the bottom half of this screen will display the details of the transactions displaying on the bank statement. The bank statement transactions will only be displayed if you have downloaded a bank statement or imported a bank statement in the Tools - Bank Online menu option. If you click on this icon or speed button again the Bank Statement Transactions section will not be displayed.
	This option will automatically reconcile all payments and receipts for a specified period. If you select the Reconcile by Reference field, you will not be able to select the date from and to.
	This option will automatically unreconcile all reconciled payments and receipts for a specified period. If you select the UnReconcile by Reference field, you will not be able to select the date from and to.
	This option allows you to search for transactions by reference, amount and date. If you click on this icon or speed button, a screen where you may enter any of the following to search for an item, will be displayed on the bottom of the reconciliation screen: Search by Reference - You need to enter a valid reference number. The date and amount for the specific transaction will be displayed. Search by Amount - You need to enter the amount and the entry will be displayed. The reference and date for the specific transaction will be displayed. Search by Date - You need to enter a valid date within the periods and the entry will be displayed. The reference and date for the specific transaction will be displayed.
	If you click on this icon or speed button, the Bank Account Recon Options screen will be displayed on which you may generate a bank reconciliation report. The Bank Account Recon Options screen may also be accessed on the Reports - Reconciliation menu option.

Hints when doing the reconciliation:

Check that you have all the pages of the bank statement and that they run sequentially.
Use the last day of the month and amount as per the bank statement - this will be your closing date (include items until) and bank balance.
Start at the beginning of the bank statement and not in the middle.
Use a ruler to make it easier to do the reconciliation line by line and "tick" every reconciled item on your statement.
If you find an error, go back to your cash book and try to correct it immediately. Do not simply carry on doing the reconciliation.

Option	Description
Bank Account	Select the cash book you wish to reconcile.
Include Items Until	Enter or select the date until which you would like to include cash book transactions to be reconciled with your Bank Statement.
Bank Balance	Enter the closing balance of your bank statement.