If accurate accounting records are essential to your business, bank reconciliation will play an important role. Unfortunately, bank reconciliation can also be one of the most time-consuming and tedious tasks you’ll face when managing your finances.
With KashFlow cloud accounting software, this is no longer the case. KashFlow’s bank reconciliation feature speeds up this challenging task thanks to its user-friendly functionality. And, if you need help setting up and using KashFlow’s bank reconciliation feature, Flow’s team of cloud accounting experts can walk through the process with you.
How does it work?
With KashFlow’s bank reconciliation feature, you can view every transaction processed on KashFlow and compare them against your bank statement to ensure there are no discrepancies. Simply enter the dates you would like to reconcile, and KashFlow will show you all the transactions made during this period. All you need to do is check them against your bank statement and tick them off when you match up the transactions. It’s simple!
KashFlow will also show you the amount left to reconcile once each transaction is paired up. You can see at a glance the remaining balance to clear and the value of any discrepancies. The Save & Reconcile button won’t become active until all transactions have been tallied, helping you and your team ensure your reconciliation statement is error-free.
Setting up your online bank accounts
KashFlow supports many online bank accounts, so you can import any transaction directly into the software. So, you no longer have to struggle with spreadsheets to enter the required information. Just link KashFlow directly to your bank account and the software will do the hard work for you.
Some of the main high street banks that support KashFlow include:
- HSBC, excluding business credit cards
- Lloyds Bank
- Royal Bank of Scotland
Supporting you and your bank reconciliations
Reconciling your accounts no longer needs to be something you dread each month. If you need help setting up KashFlow’s bank reconciliation feature or support at any stage, Flow’s team of cloud accounting experts are always here to help.
Perhaps your bank isn’t supported or your team isn’t sure how to use the software. Whatever problems you face, Flow’s group of professional accountants is on hand to offer training, advice and answer any queries you have.