To reconcile all the transactions under Bank Statement, we’ll need to upload the Bank statement in Paylogic.
- Go to Data Management > Bank reconciliations
- Upload the Bank statement using the Browse option or drag & drop the bank statement.
- Click on Upload
- Once the Bank statement is uploaded, all the transactions will be shown under Uploaded File data.
- 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