Process a bank statement

The processing of the bank statement generates the journal entries and reconciles the outstanding items of debtors and creditors automatically. Profit has a comprehensive set of rules for automatically recognising and reconciling the outstanding items. In this process, the debtor/creditor entries are also made directly. In addition, the processing procedure also automatically adds unknown bank account numbers to the debtor or creditor.

Note:

If you have started reconciling a statement but you have not yet entered all the statement lines, the statement is given the Current status.

The bank supplies the bank statement number together with the bank statement file. Some banks also provide the voucher number, with the voucher number being the same as the statement number. If your bank does not supply this, you can configure a counter for the voucher number so that it is the same as the bank statement number when processing a bank statement.

Automatically process a bank statement

You can also automatically process bank statements. Profit will only automatically process the lines that it recognises. You complete the missing data at a later moment.

To process a bank statement automatically:

1. Go to: Financial / Enter / Bank statement.
2. Select the imported statement.

   You can select multiple bank statements using multiselect, provided that these imported bank statements are for the same bank account number.

   

3. Click on the action: Process automatically.

   All the lines that cannot be processed can always be processed later manually by using the Process action button.

   Follow this procedure to journalise the remaining statement lines.

The imported statement will retain the Current status until all the lines in the statement have been processed.

Manually process a bank statement

To process a bank statement:

1. Go to: Financial / Enter / Bank statement.
2. Select the imported statement.
3. Click on the action: Process.

   If the bank statement has the Blocked status, you can change the status of the statement to Loaded.

   An entry layout for entering the statement lines appears. In the title of the view is the description of the bank journal and the account number.

4. Select the Stop automatic processing at each line check box:
   • Manual processing

     You must go through all the lines using the Tab or Enter key.

   • Process automatically

     Profit will automatically write off the outstanding items, in so far as they are recognised. You only need to complete the missing data.

5. Check the lines and where necessary complete them.

   For more information, please refer to ‘Enter the payment of a single invoice’.

   You can use the Create bank transaction code action to immediately create a new transaction code. The wizard retrieves the required data from the entry.

   When you have checked all the lines, the message The end of the file has been reached appears. Click on OK.

6. Click on: Finish.

   Upon completion, the following message appears: Entry updates approved? In this message, Profit shows the journal closing balance and the statement closing balance. Check if both closing balances are the same. If this is not the case, check the entries. If the amounts are not the same, you may still have to post a correction entry.

   When you have supplemented all the lines, the journal entry has been entered completely. The statement is given the Processed status and the entry process is completed. If you have not yet finished all the statement lines, the statement is given the Current status.

   Repeat this procedure to journalise the remaining statement lines. An imported statement will keep the Current status until all the lines in the statement have been processed.