Payment Reconciliation
Payment Reconciliation matches your bank statement with the payments recorded in YousrERP. This ensures that your books accurately reflect actual bank activity.
How It Works
- Go to Accounting > Payment Reconciliation.
- Select the Bank Account you want to reconcile.
- Set the From Date and To Date (typically the statement period).
- The system shows:
- Bank Statement Balance: The closing balance from your bank statement
- Book Balance: The balance in YousrERP for this bank account
- All Payments: Payments recorded in the selected period
- Match each bank statement line with the corresponding YousrERP payment entry.
- Any unmatched items are flagged for investigation.
- Click Reconcile once all items match.
Reconciliation Tools
The Payment Reconciliation tool provides:
- Auto Matching: Automatically matches entries based on date and amount
- Manual Matching: Select and match individual entries
- Write Off: Handle small unmatched differences
- Unreconciled Items: A list of items that remain unmatched
Why Reconcile?
- Detect missing or duplicate entries
- Identify bank charges you may have missed
- Catch errors in payment recording
- Ensure cash flow accuracy
- Required for audit compliance
Best Practices
- Reconcile bank accounts monthly at minimum
- Reconcile before closing the accounting period
- Investigate all unmatched items
- Document reasons for any write-offs
- Keep bank statements as supporting documentation