How to reconcile transactions under Bank Reconciliation?

To reconcile all the transactions under Bank Statement, we’ll need to upload the Bank statement in Paylogic. 

  1. Go to Data Management > Bank reconciliations
  2. Upload the Bank statement using the Browse option or drag & drop the bank statement.
  3. Click on Upload
  4. Once the Bank statement is uploaded, all the transactions will be shown under Uploaded File data.
  5. The Date, Description, and amount will be displayed under this section. You’ll need to select the Product Provider & Statement under Statement ID. Select the correct Product Provider and Statement with the corresponding amount and then select Reconcile under Type. The whole amount will be reconciled.

Type has 2 more options:

i) Part Reconcile: It is used when there is a single statement uploaded for a Product Provider but has 2 transactions under Bank statement.

- Eg: File uploaded for AIA $100

Bank statement has 2 transactions for AIA $50 each

ii) Sub Divide: It is used when there are 2 statements uploaded for a Product Provider but has 1 transaction under Bank statement.

Eg: 2 files uploaded for AIA of $50 each

Bank statement has a single transaction for AIA of $100

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