ChecklistGuro Bank Reconciliation Automation Template
Streamline your financial closing with our Bank Reconciliation Automation Template. Eliminate manual data entry errors and slash reconciliation time by automating the matching of bank statements to your general ledger. Perfect for accounting professionals seeking to optimize cash flow monitoring, ensure audit-ready accuracy, and achieve seamless end-of-month processing through intelligent, automated workflows.
Start
Start of the Workflow/Process.
1. Fetch Bank Statement Entries
Retrieve all pending transactions from the Bank Statement data model for the current period.
2. Fetch Internal Ledger Entries
Retrieve all recorded transactions from the Internal Accounting data model.
3. Sum Total Bank Debits
Calculate the total sum of all debit amounts from the fetched bank statement entries.
4. Sum Total Bank Credits
Calculate the total sum of all credit amounts from the fetched bank statement entries.
5. Sum Total Ledger Credits
Calculate the total sum of all credit amounts from the internal ledger entries.
6. Calculate Bank Balance Variance
Subtract the total ledger credits from the total bank credits to identify discrepancies.
7. Create Discrepancy Review Task
Assign a task to the Finance Controller if the variance is not zero.
8. Mark Transactions as Reconciled
Update the status of matched entries in the Bank Statement model to 'Reconciled'.
9. Create Reconciliation Report Entry
Create a new record in the Reconciliation Logs data model containing the final summary.
10. Generate Monthly Reconciliation Report
Generate a PDF report summarizing all matched and unmatched transactions for the period.
11. Notify Finance Team
Send an email to the accounting department with the link to the completed reconciliation report.
End
End of the Workflow/Process.
Start of the Workflow/Process.
Retrieve all pending transactions from the Bank Statement data model for the current period.
Retrieve all recorded transactions from the Internal Accounting data model.
Calculate the total sum of all debit amounts from the fetched bank statement entries.
Calculate the total sum of all credit amounts from the fetched bank statement entries.
Calculate the total sum of all credit amounts from the internal ledger entries.
Subtract the total ledger credits from the total bank credits to identify discrepancies.
Assign a task to the Finance Controller if the variance is not zero.
Update the status of matched entries in the Bank Statement model to 'Reconciled'.
Create a new record in the Reconciliation Logs data model containing the final summary.
Generate a PDF report summarizing all matched and unmatched transactions for the period.
Send an email to the accounting department with the link to the completed reconciliation report.
End of the Workflow/Process.
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