Bank Reconciliation

This article explains how to perform a bank reconciliation in Qoyod using the “Accounting Quality” feature by uploading a bank statement and matching it with the account statement in the system.

Path in Qoyod

Accounting › Accounting Quality › Create Audit Operation › Bank Reconciliation

Steps

1. Create a Bank Reconciliation Operation

1. Open “Accounting Quality” and click “Create Audit Operation”.
2. Enter the operation name.
3. Select the audit type: Bank Reconciliation.
4. Specify the bank account and the period to reconcile.
5. The opening balance of the account is displayed to confirm it matches the bank statement.
6. Set the expected completion date (optional).
7. Rename the lists if needed (optional).
8. When choosing “Private”, specify the users allowed to access and reconcile.
9. Click “Continue”.

2. Upload the Bank Statement and Start Matching

1. Click “View Audit Operation” to start the reconciliation.
2. The account statement operations for the selected period appear.
3. Click “Upload File” to upload the bank statement.
4. Select the sheet to upload and map the mandatory column headers, adding optional headers as needed.
5. After verification, the bank statement is uploaded.

3. Perform Matching and Resolve Differences

Compare the values of both lists. If there are differences:

• Perform the necessary matching operations between items.
• Resolve the differences and update the bank statement in Qoyod to close the gap.
• After closing all differences, complete the reconciliation operation.

Notes

• For the date to appear in a fully matching format, choose the “Date” format with the appropriate locale selected.