Bank Reconciliation is one of the most important procedures that has to be done in a business, in order to ensure that the balance as per the company books and the bank statements are equal. With Odoo, this process becomes very easy to manage.
The module adds two menus Under ‘Accounting’ main menu.
- Bank Reconciliation
- Bank Reconciliation Report
On clicking the Bank Reconciliation menu a wizard appears.
In the wizard below when clicking the ‘Refresh/Update ‘ button all the account move lines with the following condition is selected. The conditions include:
- The move corresponding to the move line is in posted state.
- Account of the move line is same as the one selected in the wizard.
- Date of account move line is within the range between Date From and Date End selected in the wizard.
- If ‘Show only’ option in wizard selected is :
- Reconcile – account move lines with reconciliation date not equal to false.
- To Reconcile – account move lines with reconciliation date equal to false.
- All – all the account move lines with above 3 conditions.
All the move lines satisfying the above conditions are selected and is written to the one2many field Bank Reconciliation Line.
If the amount currency field in move line is set then:
- Credit = amount currency value * -1
- Debit = amount currency value.
Else the debit and credit value is corresponding value of move line debit and credit.
Above wizard shows the lines with the conditions selected.
In the wizard we need to reconcile particular moveline then ‘Reconcile?’ boolean in the line is set to true and then we can change the credit and debit amount , select a reconciliation date and click save button .By default when the ‘Reconcile?’ boolean is set the bank credit and debit values will be the corresponding debit and credit values and reconciliation date is today date.
On clicking the save button the Reconciliation Date,Bank Debit,Bank Credit of the selected line is written to the corresponding account move line fields and the line is unlinked from the wizard field. The selected line is reconciled now.
When ‘Reconciled’ option is selected from wizard the above reconciled line will be listed in the wizard lines
And the remaining lines which is unreconciled can be reconciled by selecting the option as ‘To Reconciled’ in wizard which shows the unreconciled lines. We can make these lines reconcile as above.
Bank Reconciliation Report
Bank reconciliation report can be generated by clicking on ‘Bank Reconciliation Report’ menu and a wizard pop ups
The Print wizard have same options to select as in the ‘Bank Reconciliation’ wizard.Filter will be applied to the report contents based on the values specified in the wizard.The report prints the account move line details. Report looks like: