Reconciliation & Tools

Bank Reconciliation
Bank reconciliation ensures that the transactions recorded in SMURPS match those on your bank statement. Differences often occur because cheques or payments have not yet cleared. 
 To reconcile a bank account: 
 
 Open Bank Clearance and select the Bank Account and a Date Range . 
 Click Get Payment Entries to list all unreconciled payment entries and journal entries within the chosen period. 
 Compare each entry with your bank statement. For payments that have cleared, enter the Clearance Date . 
 Once all applicable entries have clearance dates, verify that the Balance as per bank matches your statement. Any mismatch indicates missing or incorrectly dated entries, which should be reviewed. 
 
 
 Bank reconciliation reports show the balance as per bank statement and balance as per SMURPS . Updating clearance dates adjusts the bank balance in the general ledger, ensuring your books reflect the actual bank position.

Payment Reconciliation
Use Payment Reconciliation to match unlinked payments and invoices. This tool is useful when payments are received or made without directly referencing an invoice. 
 Steps: 
 
 Go to Accounting → Accounts Receivable or Accounts Payable and open Match Payments with Invoices . 
 Select the Company , Party Type and Party , and choose the Bank or Cash Account . Filter by date if necessary. 
 Click Get Unreconciled Entries . The system will show payments without invoices on one side and outstanding invoices on the other. 
 For each payment, enter the Invoice Number and Allocated Amount to link it to the correct invoice. 
 Click Reconcile . The system updates the invoices and payments accordingly. 
 
 
 After reconciliation, you can review the updated invoices and payment entries. This helps maintain accurate receivables and payables without leaving unmatched transactions.