How to do a bank reconciliation

• Click on the "do a bank reconciliation" button
  
• Choose which bank account you want to do a reconciliation by clicking on the drop down arrow
  
• Click on the "continue " button 
  
• Select the relevant bank account by clicking on the circle to the selected column
  
• Click on the  "Continue" button
  
• Each color display a different type of entry as explained below
  

1. Orange entries represents outstanding entries
   
2. Yellow entries are suggestive reconciliation entries
   
3. Pink entries are also suggestive reconciliation entries but their date differs with more than ten days 
   
4. Blue entries are reconciliation entries that balance
   
5. Red entries are reconciliation entries that does not balance
   
6. Green represents reconciliation entries that balances

1. At the bottom of the screen you can change the date to indicate to what date the transactions should be displayed 
   
2. The system automatically provides a date 
   
3. Click on the "show" button to display the relevant date
   

Orange Transactions - Outstanding Items

1. To allocate an orange transaction that appears on the left-hand side, click on the blue link which is the description of the transaction
   
2. If the entry was a payment, the system will automatically take you to the payment screen from where you can issue the payment. Once the payment has been made, the system will take you back to the bank recon screen and the transaction will now reflect in green. Note that the description on the left-hand side will now reflect in black whereas the right-hand side will reflect in blue. If you click on the blue description, it will open up the payment that was issued
   
3. If the entry was for monies received, the system will automatically take you to the receipt screen where you can then issue the relevant receipt. Once the receipt has been issued, the system will take you back to the bank recon screen and the transaction will now reflect in green. Note that the description on the left-hand side will now reflect in black whereas the right-hand side will reflect in blue. If you click on the blue description, it will open up the receipt that was issued
   

Amounts in red indicate payments, transfers to, drawings and so forth

Amounts in black indicates receipts and transfers from

All the entries on the left-hand side represents your actual bank statement and all the right-hand transactions represents your system transactions

All entries on the bank statement side must either be yellow, blue or green in for the bank reconciliation to be reconciled at the end of that month

How to reconcile debit order transactions from Stratol

• After the debit orders have been submitted, the transactions will display on the bank statement on the relevant date. (The word STRATCOL will display as a blue link)
  
• Click the blue link (description) to issue debit order receipts
  
• The transactions linked to Stratcol with the relevant reference will be displayed
  
• The legend on the top of the screen will indicate whether the transaction was successful or unsuccessful. Please note that the individual transactions will be indicated with a beige color
  
• Click the " Continue" button
  
• The receipts will now be issued to the debtor's account and linked automatically to the different items (ie School fees/bus fees/ aftercare)
  
• If the relevant transaction is completed the reconciliation will display blue, green and yellow transactions
  
• If there are late unpaid (Red transactions) the transaction will be displayed
  
• Click the blue link
  
• Click on the " Continue"  button
  
• The “payment” will be allocated and the bank reconciliation will be updated accordingly
  
• Yellow entries: Proposed reconciliation items
  
• These entries are suggested by the system based on the amount
  
• If the suggestion is wrong, click the date on the right-hand side to change the items back to orange (outstanding items).
  
• Typically the bank transfers and Deposits made by the school will be examples of this method.
  
• NO bank transfer or bank deposits made by the school should be reconciled using the blue link
  

Yellow Transactions - Suggestive Reconciliation Items

1. These transactions represents entries based on their amount and date
   
2. Should it be that the two entries are not supposed to be matched, then just click on the date of the right-hand transaction and the transaction will be un-linked and appear in orange on both sides of the bank recon
   
3. Transactions that are usually given as suggestive reconciliation entries are cash deposits and bank transfers
   

Bank transfers and deposits that were done by the school should never be reconciled by clicking on the left-hand side description

Reconciliation of Bank transfers

• Do a bank transfer on the system. This transfer will automatically appear on the right-hand side of the bank recon
  
• If the bank transfer balances with the transfer on the left-hand side of the bank recon, the system will match these two entries as suggestive reconciliation entries
  

Please remember NOT to reconcile this transaction by clicking the blue link. This will duplicate the transaction

Reconciliation of Bank deposits made by the school

1. Receipts for cash/cheques are issued to the undeposited funds account on the system. This includes all monies that was received by the school and not yet deposited to the bank
   
2. Make the actual deposit to the bank or petty cash
   
3. Do the deposit on the system by indicating how much money you would want to take to bank and how much needs to be taken to petty cash, should you wish to replenish your petty cash. In other words take that money to the bank after the deposit slip has been issued
   
4. If the bank deposit balances the system will match them as suggestive reconciliation entries
   

Please remember NOT to reconcile this transaction by clicking the blue link. This will duplicate the transaction

Blue Transactions - Reconciling items that balance

1. To change orange (outstanding) items to blue (reconciled) items, do the following:
   
2. Click on the circle next to the orange (outstanding) item
   
3. Click on the date to the right that matches the amount. You can also select multiple items equally (by clicking one by one on the dates until the red items are blue) 
   
4. If a number of entries on the right hand side does not balance with the bank on the left, it will be displayed in red
   

Pink Transactions: Suggestive reconciliation entries (Dates differ > 10days)

1. Pink entries will appear on one line and are the system-suggested items that can be reconciled, similar to yellow items, but with the dates being more than 10 days apart. Usually these transactions are not matches, and should therefore be checked. The only thing in common on these lines are the amounts
   
2. Click the date on the right hand side to change the items back to orange (outstanding items)
   
3. Click on the date to the right that matches the amount
   
4. The entries will now appear in one line again and change blue, to indicate a reconciliation
   

How to reconcile your bank recon at the end of the month

1. To reconcile your bank recon, all transactions must either be green, blue or yellow
   
2. The recon will only balance on the date before the next orange transaction as orange transactions represent outstanding entries
   
3. Choose the date on which you want to reconcile by entering the date right at the end of the page and then clicking on the "show" button
   
4. As soon as all the transactions reflect as per the date that you chose, click on the "continue" button at the bottom of the page
   
5. The system will then bring up a bank reconciliation information block that will tell you until what date and line number it can be reconciled. It will also reflect your bank balance on the given date
   
6. The bank reconciliation information block will contain the following information
   

1. The bank balance according the bank statement on the given date
   
2. The outstanding payments on the financial system
   
3. The outstanding deposits on the financial system
   
4. The balance according to the cash book on the given date
   
5. The balance according to the Trial balance on the given date
   
6. What the difference between the various balances are, if there is any difference
   

1. If you agree, then you can click on the "yes" button
   
2. The system will then confirm that the reconciliation has been done and will give you the option to print the reconciliation
   

Manual Bank Reconciliation

1. This bank reconciliation is typically done for accounts such as the petty cash account or short-term investment accounts
   

1. Click on the "do a bank reconciliation" button
   
2. Choose which bank account you want to do a reconciliation by clicking on the drop down arrow
   
3. Click on the "continue " button 
   
4. Select the relevant bank account by clicking on the circle to the selected column
   
5. Click on the "Continue" button
   
6. Choose the date on which you want to do the reconciliation 
   
7. Click on the " continue" button
   
8. The first block will contain the bank reconciliation information that consists of the bank recon date as well as the bank recon number which automatically get's allocated by the system
   
9. The second block will contain a list of all the deposits that have been made to the account. This includes cash deposits, bank transfers and receipts. Although, receipts should never be issued directly to your petty cash but to Undeposited Funds. You can choose which deposits must be included in your recon by making sure there's a tick next to the transaction
   
10. The third block will list all the payments you have issued or transfers that were done. You can choose which payments must be included in the recon by ensuring that there's a tick next to the payment/transfer
    
11. The fourth and final block will contain your balance information and is set out as follows:
    

1. The opening balance which will be your previous recon's closing balance
   
2. The deposits included
   
3. The payments included
   
4. The closing balance 
   
5. What your balance is
   
6. The difference between the closing balance and your balance
   

1. The balance that you need to add in the block provided will be the physical cash in your petty cash tin, if the recon is for your petty cash or what the balance on the statement is of the specific bank account. There should never be a difference from the closing balance on the system and the balance that you have to enter.
   
2. If there's a difference between the closing balance on the system and your balance then it means that either not all deposits were accounted for or not all payments have been processed. 
   
3. If the balance is zero, then you can click on the "continue" button
   
4. The system will then confirm that you have reconciled your account and will give you the option to print the reconciliation
   

Frequently Asked Questions

Why does the system not allow me to reconcile at the end of month

1. The system will not let you reconcile at the end month if

1. At least one day of next month statement is not imported.  (The system must check if your closing balance of the month and the opening balance of the following month balances.)
   
2. If you match a transaction on your statement with a transaction on your system over two months the system will only allow you to reconcile up until before those transactions or after those transaction dates.
   

For more information on your Netcash/SagePay account, please click on the following link

https://help.d6.co.za/support/d6education/ShowHomePage.do#Solutions/dv/194872000053848662

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