What is bank reconciliation?
Reconciliation is a method in accounting, which involves comparing parts of the accounts with other documents. The aim is to ensure that the information in the accounts is correct, by checking various sources to find any discrepancies. There are different types of reconciliation, such as bank reconciliation, salary reconciliation and ledger reconciliation. During bank reconciliation, the accounts are compared with the bank statement. This is how it is checked that all transactions in the bank are also documented in the accounts.
With bank integration Mini, you get automatic bank reconciliation. The information from the bank is retrieved every 7 days - (Sunday). The first time files are downloaded, it will be for the entire current month.
Do you have a Basis-subscription? Then you don't have access to automatic bank reconciliation. Upgrade your subscription under "My subscription".
Want to learn more?
Read more about how automatic bank reconciliation with bank integration works here (This article is not translated yet)