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Accounts, Cashbook, Reconciliation in Bulk

Before reading this section you should be familiar with the following…

  • Accounts, Cashbook, Receipts & Purchases
  • Accounts, Cashbook, Reconciling (Insurer and Adviser Accounts, etc)
  • The bulk reconciliation facility speeds up the reconciliation process. It is ideally suited to reconciling large accounts, such as from a Network (n.b. if the Network’s reconciliation screen initially appears empty just click the “Signpost” button, then click “Include all outstanding SALES invoices”). The process is as follows….

    1. Enter a huge sum to be reconciled, like the £555,000 shown in the example below. The point of this is that…

    a) such a large sum is bound to be big enough to cover any payment required

    b) if the sum is too big then the system will prompt you to let it automatically reduce the amount accordingly at the end of the reconciliation process

    2. On the “Reconcile Account for…” screen, go through the transactions to be reconciled. Where an item matches your insurer or supplier’s statement…

  • Click on the transaction in question, so that it is highlighted
  • Right-click the highlighted transaction and a tick will appear to the right of the “Invoice” column, as shown below
  • Where an item does not match the insurer or supplier’s account then…

  • if dealing with a supplier…
  • o jump back to the relevant Ledger (via “Signpost” button / “Jump to” / “Ledger”), edit the invoice, then click “Exit” to return and continue with your reconciliation

  • if dealing with an insurer…
  • o first jump back to the relevant policy (via “Signpost” button / “Jump to” / “Policyholder’s policies”), edit and re-post the policy, then click “Exit” twice to return to the “Reconcile Account for…” screen

    o then jump back to the relevant Ledger (via “Signpost” button / “Jump to” / “Ledger”) and delete the original incorrect invoice (with all associated pay-aways), then click “Exit” to continue with your reconciliation

    Note that to do the above you will need adequate user access rights (see “Set-up Users”). Also note that you won’t be able to delete invoices that have already been reconciled unless you un-reconcile them first (i.e. by jumping to the Cashbook or Bank and deleting their reconciliation via the yellow “Bin” button).

    3. When all the items you wish to reconcile have been ticked, as described above, double-click any line in order to bring up the “Reconcile Options” dialogue shown below. Ignore the “Amount to reconcile”, which only relates to the line you’ve currently highlighted, re-set the selector to “Reconcile marked entries now” and click “OK”. All the ticked items will be reconciled and the ticks will all be cleared.

    4. Having completed your reconciliation, perhaps for £475.44 like that shown below, rather than for the £555,000 you originally entered, simply click the “Exit” button to leave the “Reconcile Account for…” screen, and then click “Yes” to accept the prompt to adjust the Cashbook entry accordingly.