Bank Reconciliation

Document Version	v.3
Document Last Updated	4/3/2025
Software Version Documented	v.10

Overview

This document will cover how you can reconcile (using your bank statements) with any bank accounts that are configured in your General Ledger within Savance Enterprise. This process will keep your financial records more accurate and should be done monthly, and or as part of closing a financial period.

General Ledger Settings

Assigning Bank Account Details

Before you can reconcile you need to ensure all bank accounts are properly configured within your General Ledger.

Accounting > Accounting Manager > Ledger Accounts
Locate your Default Bank Account GL Account and right-click
Select “Edit Ledger Account “
In the Ledger Details, you need to make sure both “Bank Account” and “Show in Reconciliation” are both checked.
Enter your Account Number
Using your last bank statement, enter your last statement balance, and last statement date. NOTE: You must enter these values to be able to reconcile.
Save

Repeat this process and or add new Asset Ledger Accounts if you have additional bank accounts that need reconciliation.

Bank Reconciliation

Once your ledgers are set properly, with the last statement details we can begin the reconciliation process.

Accounting > Accounting Manager > Reconcile
Once in your History select “Reconcile” in the bottom right corner
The Reconcile Wizard will appear.
Choose the Account you wish to reconcile.
Enter the Statement Ending Date from your bank statement.
NOTE: The values that you entered in your Ledger, will appear as your Beginning Balance.
Enter your Ending Balance.
If you wish to itemize your Service Charges and Earned Interest, you may enter this information here, just make sure you have the correct ledger selected, along with the last statement date for both.
Once completed select ‘Reconcile’
Next, all your Checks and Payments, along with Deposits and Other Credits will appear in two columns.
To narrow your results, use the filters to search for specific dollar amounts, check #’s, change your date range, or by transaction method.
On the bottom right of your screen, you have your Ending and Cleared Balances and Difference. The goal is to have a $0 difference before you can reconcile.
On the bottom left of your screen, you have your Beginning Balance and a calculator that totals items that have been checked and or highlighted in the grid. If you wish to clear the totals, select ‘Clear Selection’
Next, using your statement, begin selecting the items that appear on your statement. As you do this you’ll notice both the right and left bottom of your screen begin to total what has been selected.
Once the Difference is $0.00 and everything is accounted for from your statement select ‘Reconcile Now’

If Using WindRiver

Using your WindRiver - Transafe Portal you will Go to Reports > Batches > Open Batches
- NOTE: Transaction History will show Settled Transactions, as well a Batch Totals, and Transafe only stores transaction history for up to 180 days.
- If you need to maintain a longer transaction history you will need to download this report to save locally for future reference.
To view the transactions with a batch, click the three action lines to the left and select View Transactions.
Next, using your Batch settlement reports and your Bank statement, begin selecting the items that appear on your statement.
If you need to review the details of these bank deposits (again this will only appear if you are properly recording deposits daily) click on the + to expand and view the details.

NOTE: If you prefer to maintain reconciliation as you receive payables, write checks, etc, you can save your work by selecting ‘Save for Later’ and come back as often as you need until you ‘Reconcile’.

Once completed, the current reconciliation now appears on the history screen. The status is marked Reconciled. If you’ve just saved your work the status is marked Open
If you wish to view or un-reconcile an entry select the listing to highlight and right-click. NOTE: If you are un-reconciling an entry in the past, all entries after that will also be un-reconciled.

Non-Detailed Transactions - Automatic Bank Matching

In the scenario that your statement lumps certain pay methods together as a single line detail, we have a tool called Automatic Bank Matching to help match the single entries.

On the Reconcile details page select, Automatic Bank Matching
Using the Filter select the payment type, date range.
Next, enter the total amount listed from your bank statement.
After the total has been entered select the ’+’ to add the amount below. If you have more than one amount to match you can add multiple amounts here.
Once you’ve completed adding your amounts select ‘Calculate Matches’
If there are any matches the results will appear as “combinations”
To drill into the combination select the arrow to view the details.
If the results match, select the “checkbox” for the combination and hit apply.
This will select/check the entries and add them to your additional entries that need to be reconciled.

Modifying General Ledger Entries

In addition to your typical payment methods, any General Ledger entries will also be listed in your reconciliation summary.

In the event that you need to modify the details of a GL entry, double-click on the line.
The General Ledger details for this entry will appear.
From here you can change the Accounts, amounts, comments, and warehouse.
After your edits are made, Save & Close.

Reconciliation Reports

Once you’ve completed your reconciliation you can now run the Reconciliation Report for your records.

Within the Accounting Manager select ‘Reports’
Under Company & Financial > Banking > select Reconciliation Report
Select from the Value dropdown, your most recent entry.
Hit Preview
Once the report is finished you will receive a detailed list of everything that has cleared/reconciled as well as any items that were not cleared.

This concludes this document on how to Reconcile using Savance Enterprise.