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Bank Reconciliation

The Bank Reconciliation report allows you to check that you have correctly entered all transactions related to a specific bank account. A reconciled bank account occurs when the sum of all transactions on a bank, loan or credit card statement equals the sum of all transactions entered into your online accounting file for that same period and Bank Account. Bellow there is a video to help

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You may have to take into account transactions that have been entered into your online accounting file that have not yet appeared on your bank statement. These may include uncleared cheques, credit card or merchant transactions not yet processed.

Clearing Date

Saasu's Bank Rec is different to other systems. We have a field in the payments screen called Clearance Date. If your payment or receipt is received on a date different to when made then enter the clearance date. This lets Saasu handle uncleared Deposits and Receipts in the Bank Rec date range you are working with.

The following steps outline how to do a Bank Reconciliation:

  1. Go to Reports > Bank Reconciliation and choose your Bank Account from the first drop down.
  2. Enter the Start Date and End date for your reconciliation (Saasu may suggest, the Start Date based on you last reconciliation)
  3. Leave the show unticked (unreconciled) transactions from before the start date option ticked.
  4. Change the Order by option to match your Bank Statement order and then click View Report.
  5. Enter the opening balance and closing balance as listed on your statement if required (Saasu inserts the calculated opening balance into this field if one exists).
  6. Tick any items that appear in your bank statement using the check boxes next to each item.
  7. Once you have ticked all of the items and difference is zero, click the Save button at the bottom of the screen so that Saasu can store the ticks with each transaction.

Reconciliation Tips

About the Report

The Difference calculation

Difference is the calculated value you have entered into the Statement closing balance as at PLUS the sum of the Statement opening balance as at and the total of all ticked items. When this value is $0.00 your bank reconciliation is correct.

When it is not = $0.00, this is the amount that is yet to be reconciled. If you think that this is incorrect, make sure that:

Common Errors


Blue Suggestion - a bank feed entry matches to a possible Saasu entry, the suggestion will appear beneath the bank feed entry.

Green Matched - a bank feed entry already matched to a Saasu entry, the match will appear beneath the bank feed entry.

Unmatched - this applies to Saasu transactions only (and not bank feeds) that are currently waiting for a bank feed entry to match with, check to ensure your bank feed data is current and if you need to refresh OR import your bank feeds data to update it.

Reconciled but Unmatched - this applies to Saasu transactions only, that have NOT had a bank feed entry to match YET have been ticked within the Bank Reconciliation report. To fix this issue, you need to check what bank feeds are missing, import them OR refresh to auto-update, and then match it in the bank feeds section.