Overview

This guide steps through the process of performing a Bank Reconciliation for both Client/Trust and Office Bank accounts.

Performing a Bank Reconciliation

The process of performing a bank reconciliation in EvolveGo is identical for both Office and Client/Trust accounts.

A bank reconciliation can be performed as follows:

1. Select the Accountant Dashboard from the My Dashboards drop down list. 

2. Select the account to be reconciled, either under Office Cash Accounts or the Client/Trust Cash Accounts (click within the white area of the cash account name). 

3. From the Account Actions menu, select Reconciliation.

4. On the reconciliation screen, the Last Reconciliation Date will be grey, displaying the last date the account was reconciled. 

5. Enter the Bank Statement Date. 

6. The cashbook balance is displayed and cannot be edited. 

7. Update the bank balance to the closing bank statement balance as at the bank statement date. 

8. The adjusted bank balance will update once the bank balance is entered. 

9. The variance will display the amount to be reconciled.

10. The Reconciled Entries shows the number of entries that can be reconciled. 

11. Tick off the relevant entries which appear on your Bank Statement. 

12. To view, action or add an unallocated entry under Bank Entries, select the Unallocated button. 

An unallocated entry can be defined as a transaction that is appearing on the bank statement (being a transaction that has occurred on the bank account), where the correct matter or account allocation has not been identified at the time of reconciliation. 

To proceed with reconciling the account, an unallocated entry can be entered for the unidentified transaction until the correct allocation has been confirmed. 

13. To add an unallocated transaction to the Bank Entries, select Add. 

14. Enter the unallocated bank entry details including Statement Date, Bank Reference, Memo and Amount.

15. Select Save to record the unallocated bank entry.  Select Save and New to record the entry and to open a new bank entry details screen. 

16. To create a new payment transaction, select Post Payment. 

17. To create a new receipt transaction, select Post Receipt. 

NOTE: For further instructions on how to record a new payment or receipt, please refer to the relevant Guides.

18. To print a copy of the bank reconciliation, ensure the Print toggle is on. Once the variance is Zero, select Reconcile. 

19.  Your Bank Reconciliation report will appear on Screen.