Knowledge Center

Bank reconciliation

Before starting a bank reconciliation, the bank statements have to be imported from the bank into RamBase.

When bank statements are imported, the reconciliation job can be initiated manually, or carried out automatically on a regular basis due to your company's setup. Regardless of how the reconciliation job is initiated, the reconciliations have to be inspected and confirmed manually.

Automated bank reconciliation (BST)
Initiate a bank reconciliation
  1. To open the Pay Management (PAM) application, find Finance in the RamBase menu and then Cash management. Click Inbound payments to enter the PAM application.

  2. Select the Bank Statements folder.

The bank statements folder lists all bank statement documents. These documents are based on the files imported from the bank(s).

Import a new file from the bank
  1. Start in the Bank Statements folder.

  2. Press F12 to open the action menu and choose the option Import Bank Statements from file.

  3. Select the bank you want to import the file from.

  4. Click the Next button.

  5. Browse to the bank statement file and click the Upload button. A progress bar will appear. This process might take a while.

When the import is finished, one or several BST documents are made. One BST document is made for each transaction date. All transactions on the same date will appear as items on the relevant BST document. The recently generated BST documents will be listed in the Bank Statements folder with status 2. This means that they are registered into RamBase, and are ready for reconciliation. If the BST documents are not listed in status 2, there is a deviation.

From the Bank statements folder you may import bank statement-files from bank and initiate an automated bank reconciliation. The reconciliation will be performed automatically on a regular basis due to your company's setup, but there is an option to initiate the bank reconciliation manually whenever you want.

Import bank statements from bank integration

The Activate Bank Integration setting must be active to import bank statements from bank integration.

  1. Start in the Bank Statements folder.

  2. Press F12 to open the action menu and choose the Import Bank Statements from Bank Integration option.

  3. In the popup, select bank in the Bank field and dates in the From Date & To Date fields.

  4. Click the OK button.

When the import is finished, one or several BST documents are made. One BST document is made for each transaction date. All transactions on the same date will appear as items on the relevant BST document. The recently generated BST documents will be listed in the Bank Statements folder with status 2. This means that they are registered into RamBase, and are ready for reconciliation. If the BST documents are not listed in status 2, there is a deviation.

Start a bank reconciliation
  1. Start in the Bank Statements folder.

  2. Press F12 and choose the option Start Bank Statement Reconciliation Job. The reconciliation compares the bank transactions (BST items) against the payment documents (PAY) registered in RamBase.

    • If RamBase finds a match between a BST item and a PAY document, the BST document will be put to status 8. This means that the automated reconciliation was successful. A bank statement (BST document) in status 8 can be confirmed as reconciled.

    • If RamBase finds a partial match, that is a match with minor deviations, the BST document is put to status 3.

    • If RamBase does not find a match, the BST document will be put to status 2.

    • BST documents in status 1 indicates file error.

BST documents put to status 2 and 3 have to be reconciled manually. Open every document and highlight the item line with status 2 or 3 and press ENTER. The next action depends on the status on the item line. Regardless of the item's initial status, you should end up with a successful reconciliation and a BST document in status 8.

Repeat this reconciliation procedure until all BST documents are in status 8.

Reconcile an unmatched transaction (St:2)
  1. Start in the Bank Statements folder.

  2. Select a BST document in status 2.

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  3. Press ENTER. All transactions for that specific date (BST items) will be listed. The list is sorted by status code, putting transactions with status code 2 on top.

  4. Select an unmatched transaction (St:2).

  5. Press ENTER. The Bank Statement Line popup will appear.

  6. Click the magnifier icon in the Pay Info section to view the PAY documents which can possibly match the transaction (BST item).

  7. Note the default value in the Date (Min-Max)-fields. Change them if necessary. You may also use the amount fields to limit the number of possible documents.

  8. Select the matching PAY document.Note! If no PAY document matches, a payment has not been registered yet. If so, follow this procedure:

    1. Inspect your bank statement.

    2. Create a new PAY document based on the information in the bank statement.

    3. Go to the Pay Managements (PAM) Payments folder for creating it.

    4. Go back to the BST folder and repeat from step 1.

  9. Click the Confirm button.If the transaction (BST item) is set to status 3, it has to be confirmed. In such cases, follow this procedure:

    1. Press F12 to open the action menu.

    2. Choose the option Confirm BST item (St=4) to reconcile the transaction.

  10. When the last BST item on this document is reconciled, all BST items and the BST document will be put to status 8.

Reconcile a partial matched transaction (St:3)
  1. Start in the Bank Statements folder.

  2. Select a BST document in status 3.

  3. Press ENTER. All transactions for that specific date (BST items) will be listed. The list is sorted by status code, putting transactions with status code 3 on top.

  4. Select a partial matched transaction (St:3).

  5. Press ENTER. The Bank Statement Line popup will appear.

  6. Inspect the invoice, the bank statement and the PAY document, and compare the amounts.

  7. If the deviation is due to errors when punching the PAY document manually, do as follows:

  8. Click on the trash bin icon on the line of the incorrect PAY document. It will disappear from the list.

  9. Click on the magnifier icon and look up the same PAY document.

  10. Do not select it by ticking the check box, but click on the PAY-link. The Pay Document popup appears.

  11. Press F12 and choose the option Backward PAY.

  12. Press ENTER on the item line and make corrections.

  13. Press Esc.

  14. Press F12 and choose the option Forward PAY (St:4).

  15. Press Esc to return to the Link PAY to BST-popup.

  16. Select the same PAY document by ticking the check-box to the left on the line.

  17. Click the Confirm button.

If there are more BST items in status 3, the recently reconciled BST item will be put to status 3. Repeat the procedure until all BST items in status 3 are reconciled.

When the last BST item is reconciled, all the BST items and the BST document will be put to status 8.

To complete the bank reconciliation, the bank statements have to be confirmed. There are two ways of doing it either confirming all bank statements for one bank at the same time, or confirming each BST document individually.

Confirm all bank statements for one bank
  1. Start in the Bank Statements folder.

  2. Select a BST document in status 8 from the relevant bank.

  3. Press F12 and choose the option Confirm All Bank Statements for this Bank.

Confirm a single bank statement
  1. Start in the Bank Statements folder.

  2. Select a BST document in status 8 and press ENTER.

  3. Press F12 and choose the option Confirm Bank Statement (St=9).

  4. When the reconciliation of a BST document is confirmed (St:9), the connected payment (PAY) document will be put to status 9 too. This indicates that it is reconciled and there is no need for further handling. Unreconciled PAY documents will remain in status 4.

Deviation

If there is a deviation between the value in the field Amount in the Bank Totals-section and the total amount of the item lines,

the BST document will be in status 1, and you will not be allowed to proceed.

Press F12 and select Create new item from deviation amount.

A new item line with the amount of the deviation will appear, the BST document will be in status 2, and you can continue the bank reconciliation procedure.

Create a Payment (PAY) directly from an Bank Statement (BST) document
  1. Enter the Bank Statement (BST) document.

  2. Click the Create Payment icon in the PayRef column to create a PAY in status 1.

  3. Check the payment information and make necessary changes.

  4. Click F12 to open the action menu and choose the Register Payment option.

Manual bank reconciliation

Sometimes the bank reconciliation has to be done manually. PAY Reconciliation (RECPAY) lists all banks registered in RamBase which have un-reconciled payment documents (St:4). Finished reconciliation jobs will also be listed in RECPAY (St:9).

  1. To open the PAY Reconciliation (RECPAY) application, find Finance in the RamBase menu and then Cash management. Click Manual bank reconciliation to enter the RECPAY application.

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  2. Click on the magnifying glass on the upper right of the screen to filter the bank to reconcile.

  3. Click on the + icon on the left of the document line.

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  4. To ease the traceability of this manual bank reconciliation, enter a reference to the reconciliation in the BankRef field. The reference should be a combination of year and date (yyyy.mm.dd), or a combination of year and serial number (yyyy.xxx).

  5. Click the OK button.

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    This is the main window for the reconciliation job. Note that the reconciliation is set to status 0 which indicates that this is a new reconciliation which is created by the system. A reconciliation job is not registered before there are PAY documents connected to it.

  6. Click on the magnifying glass in the Title section to bring up the Select Payments popup, and select the documents for this specific period.

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  7. Press Esc.

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  8. Press F12 to open the action menu and choose the option Confirm (St=9). When the reconciliation of a BST document is confirmed (St:9), the connected PAY document will be put to status 9 too. This indicates that it is reconciled and there is no need for further handling. Unreconciled PAY documents will remain in status 4.