The Bank Reconciliation Report allows an accountant to compare the companies' General Ledger bank balance against the bank statement at a chosen close-off date.
This report displays the close off balance, as well as reconciled and unreconciled items. It then calculates the variance between the expected bank balance, and the GL balance. 
 

The Bank Reconciliation Report can be printed after the Close Off process has been completed. If the Close Off is subsequently reversed, the report will no longer be available for printing.

To Print a Bank Reconciliation Report, navigate to the Close Offs tab and select the Print option 

After selecting the Print option select the Report Type from the options below and click Run Report

• Detailed: This is the default option a detailed Bank reconciliation repoort will onclude reconciliation summary and the transaction details 
• Summary: Summary Report will only include Reconciliation Summary 

Reconciliation Summary

The Reconciliation Summary includes the following figures:
 

• Opening Balance: The closing balance of the previous close off. If a previous close off does not exist this will not print.
• Reconciled Items: The total value of all items reconciled during the period.
• Close Off Balance: The Opening Balance, plus Reconciled Items.
• Unreconciled Items: The total value of all items processed to the bank account during this period, but not reconciled.
• GL Balance: The value of the bank account at the date of close off.
• Variance: The difference between the Close Off Balance + Unreconciled items, and the GL Balance.
   

Transaction Details

The full report will print the details of all Reconciled and Unreconciled line items.

Variance

A Variance occurs when a transaction has been posted to the bank GL but has not gone to the bank reconciliation. The most likely cause of this variance is a journal to the bank General Ledger .