Reconciliation

Last updated: May 14, 2020 by CBT

The Reconciliation feature helps you manage your school’s bank accounts and their transactions.

Click on the “Reconciliation” tab found under the Finance category. This will bring you the Reconciliation page.

Recording A Bank Account

1. To start off, record your school’s bank account/s by clicking on the three vertical dots icon next to the Accounts title, then click on “Add bank account” on the options that appear.

2. You will be shown a form where you need to put the bank name, account number, and the branch of the bank. After filling up the fields, click on “Add Bank Account” to add it to your list of accounts.

3. Your newly recorded account will now be visible on the list on the left.

Recording Debit To An Account

1. Choose a bank in the list that you want to record debit to and hover/click on its three horizontal dots icon, then click on “Debit”.

2. On the form that appears, input the amount you want to debit, then click “Debit Amount”.

3. You will see that your chosen bank account’s balance will be affected accordingly.

Recording Credit To An Account

1. Choose a bank in the list that you want to record credit to and hover/click on its three horizontal dots icon, then click on “Credit”.

2. On the form that appears, input the amount you want to credit, then click “Credit Amount”.

3. You will see that your chosen bank account’s balance will be affected accordingly.

Recording Amount Transfers to Another Account

1. For this feature, you must have at least two (2) bank accounts recorded in Reconciliation. Choose a bank in the list that you want to transfer amount from and hover/click on its three horizontal dots icon, then click on “Transfer”.

2. On the form that appears, input the amount you want to debit, then select an account that will credit the amount. Afterwards, click “Transfer Amount”.

3. You will see that both of the chosen bank accounts’ balances will be affected accordingly.

Viewing Transactions And Transaction Details

1. When students make payments, the officer-in-charge records their payments in the Payments module, where they also choose the bank which the amount is deposited to. You can view these transactions by choosing a bank from the list and clicking its “View transactions” text.

2. You will be shown the list of transactions made in that bank.

Filtering Transactions

1. When you view the transactions of a bank account, you are shown the complete list of transactions recorded. To filter this, click on the “Filter” button on the upper right corner.

2. You will be given a form, where you can choose which types of transactions you want to view, then click “Filter Transactions”.

3. You will see the filtered list of transactions below.

Searching A Transaction

1. To search for a transaction, input a transaction’s OR number, then press the Enter key on your keyboard.

2. Your transaction should appear on the list below.

Setting A Status To A Transaction

1. You can verify, unverify, and invalidate a transaction by choosing a transaction from the list and hovering on its grey check icon on the leftmost of the row.

2. You can set the status from the options presented by clicking your choice.

3. Once you click it, it will be recorded as the status you selected.

Downloading Sales Report

1. Reports are necessary for keeping track of the financial status of your school. Generate a sales report by clicking on the three vertical dots next to the “Accounts” text, then click on “Download sales report”.

2. Choose the dates you want the sales report to cover by inputting them on the form that appears, then click “Download Sales Report”.

3. Wait for the download to finish, then open the file. You will receive a PDF file with the transaction items covering the dates inputted.

Downloading Summary Balance Report

1. To view and save the summary balance report, click the three vertical dots next to the “Accounts” text, then click on “Download summary balance report”.

2. You will be asked to choose the school year and term that the report will cover. Once you have chosen this, click “Download Report”.

3. Wait for the download to finish, then open the file. You will receive an Excel file showing each student’s tuition, discount, collectibles before penalties, penalty, collectibles, total payment, balance, and more, as well as their totals.