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Bank Reconciliation

Overview

The bank reconciliation enables transactions posted to Tourplan GL bank accounts to be reconciled against actual bank statements.

Advice should be sought from Tourplan before any set up or use of the Bank Reconciliation is begun. This is because the initial reconciliation needs to be carefully thought through and if any errors or incorrect opening balance calculations have been made in preparing the initial data for entry, they may not be able to be corrected.

Components

The bank reconciliation module has 3 main components:

Bank Reconciliation

Accessed from Main Menu> Financials> Bank Reconciliations. This is used to:

Set up actual bank account details and attach Tourplan GL bank accounts to actual bank accounts.
Tag Tourplan GL bank account transactions that are presented/banked items on the bank statement.
Print bank reconciliation reports.

Debtors Banking

Accessed from Main Menu> Financials> Accounting> Debtors> Debtors Banking.

This is used to:

Consolidate multiple debtors receipts into one banking total.

Creditors Banking

Accessed from Main Menu> Financials> Accounting> Creditors> Creditors Banking.

This is used to:

Consolidate multiple creditors' cheques into one banking total.

Debtors and Creditors banking does not always have to be used. In general terms, it depends on how individual banks handle multiple transaction deposits and withdrawals. Deposits are not normally an issue, but withdrawals (payments to suppliers) by electronic transfer are handled differently by some banks. Some will show the individual transactions on bank statements, others will show the total amount electronically transferred.

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Tourplan iS V2.07 Accounts 2 Training Guide

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