These steps can be used to reconcile the cashbook to the general ledger each month.  

At all dates the running balance in cashbook MUST match the bank account balance in the general ledger.

It is suggested to first reconcile your Cashbook to the GL then reconcile the Cashbook to your bank statement

TABLE OF CONTENTS

• Identify any month(s) out of balance
  • Cashbook
  • Trial Balance - Summary
  • Spreadsheet example
• Identify the transaction(s)
  • Cashbook Report
  • Trial Balance - Detailed
  • Example:

Each Cashbook should have it's own GL code and will need to be reconciled separately

Identify any month(s) out of balance

Compare the Cashbook to the Trial Balance Summary

Cashbook

In the Accounts (1) module open the Cashbook (2) and find the last transaction of each month (3), enter these figures into a spreadsheet (see below template).

Trial Balance - Summary

In the Accounts module (1) go to Reports (2) > General Ledger (3) > Trial Balance - Summary (4)

1. Select the correct GL code - Typically it will have a search key of "BANK"

NB: each General Ledger/chart of accounts is different and the number may change
Contact your accountant if you are unsure which GL code this is

2. Select the correct month

3. The report can be exported to Excel as well.

4. Enter the Closing Balance

Spreadsheet example

This is an example - setup in Excel to make your life easier

Identify the transaction(s)

Compare the Cashbook report to the Detailed Trial Balance

Cashbook Report

In Accounts (1) go to Reports (2) > Cashbook (3) > Cashbook Report (4) 

Enter the Bank account being balanced (1) and the date range (2)

Trial Balance - Detailed

in the Accounts module (1), go to Reports (2) > General Ledger (3) > Trial Balance - Detailed (4)

1. Enter the correct GL code

Check and make sure that you are using the correct GL code for the Bank/Cashbook you are reconciling.

2. Enter the correct period

3. Tick Print Running Balance

Example:

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