Banking

Banking Overview

An essential part of managing your companies finances are making sure the payments into and out of the bank accounts are correct and recorded in the accounting records,  Our banking app makes that easy.

The banking app is comprised of two components:

  • bank statement, record the banking entries in your bank account (inbound and outbound)
  • bank reconciliation, reconcile the entries in your bank statement to the entries in the accounting records

Bank Statement

All the physical payments into and out of the bank accounts are shown on the bank statements received from your bank, input each transaction as shown on your bank statement into the Bank app. 

The latest closing balance on you bank statement should be what is shown as in your bank account in the accounting records.  The two balances are shown at the top of the bank statement, and an indicator of whether they are equal or not.

Add as many bank accounts to a company as you have setup.

See how easy it is to use our Bank app in the video below:

Bank Reconciliation

Each transaction in the bank statement received from your bank should also be in your accounting records, the bank reconciliation lets you match the two sides and see what is outstanding.  This is a key activity in keeping your finances in control.

See how easy it is to use our Bank Reconciliation app in the video below:

Scroll to top