Reconcile Bank Statements – Automated & Streamlined
Table Of Contents
Gone are the days when you had to manually capture each and every transaction from your bank statement. With Sage Bank Manager you will now be excited to reconcile bank statements.
You simply need to download your bank statement from your FNB, Standard Bank, Absa, or Nedbank (Any major Bank) account and map the bank transactions to the related ledger accounts, and the Bank Manager system will assign each transaction automatically every time you import it.
Why do I need to reconcile company bank statements?
Keeping a handle of your company finances is a key driver of your business success. You need to ensure that the bank balance on your monthly statements matches with your reported general ledger (GL) balance.
Many a time, these balances don’t quite match and this is why you will need to identify the discrepancies and ensure that every transaction is accounted for and your bank balance matches with the balance on your records.