Introduction
Bank reconciliation is a process used by companies to ensure that the bank or cash balances in their accounting records match the actual amounts reflected in their bank statements.
One of the methods available in Bukku to perform this reconciliation is SmartRecon. SmartRecon simplifies the process by allowing users to upload their original PDF bank statements directly into the system, where transactions are automatically matched with the ones recorded. This feature reduces manual effort, streamlines reconciliation, and ensures accuracy in just a few simple steps.
SmartRecon Options in Bukku
Bukku offers tailored SmartRecon options for specific banks, allowing users to easily upload bank statements in different formats for automated reconciliation:
Public Bank: Supports both PDF e-statements and CSV files.
Maybank: Accepts PDF e-statements only.
CIMB, UOB, HLBB: These banks support CSV files for reconciliation.
If your bank isn't listed, no worries! You can use Bukku’s Universal SmartRecon, which supports eStatements for most Malaysian banks.
Alternatively, you can use the SmartRecon via Bukku CSV option: simply download the Bukku CSV template, fill in the transaction details, and upload the file for automated bank reconciliation.
Performing Bank Reconciliation with Universal Smartrecon
Scenario: Reconcile your Public Bank account for September 2019.
Assuming you completed the first reconciliation in August 2019, follow these steps to perform the next one:
Navigate to Bank > Accounts > at your Public Bank account > click on Reconcile button.
If you haven't done the first reconciliation yet, click here to follow this guide to complete your first bank reconciliation.
Choose the Universal SmartRecon option. Upload your bank statement PDF or drag and drop it into SmartRecon.
The system will process and extract the bank statement details into Bukku.
Bukku will automatically match transactions based on the date, amount, and key description words between your bank statement and your Bukku records.
If a transaction isn’t recorded in Bukku or the description differs, it will appear with a red exclamation mark labeled "Unmatched."
You can manually match the transaction if it exists in Bukku.
Create a new one on the spot if the transaction isn’t recorded in Bukku.
Click here to see Section 3 for the detailed guidance on matching and creating transactions.
Once all transactions are matched and balances are correct, click Save.
Notes:
When performing bank reconciliation with SmartRecon, you’ll see various tabs that indicate the status of transactions. Here’s what each tab means:
Unmatched: Transactions that the system could not automatically match. These may require manual review to find or create matching entries in Bukku.
Matched with Adjustment: Transactions that match with an added adjustment, such as minor differences in amounts due to rounding or fees.
Example: This transaction means you incurred an expense of RM2,649.00 and a bank fee of RM0.34, both of which were paid from the bank account, totaling RM2,649.34.
Matched: Transactions where the system has automatically aligned bank statement entries with corresponding entries in Bukku.
You can also click the 'Edit' icon to verify that the system has matched the transactions correctly.
Matching and Creating Transactions
A green checkmark indicates that the transaction is matched, while a red exclamation mark indicates unmatched.
Matching Transaction
If a transaction cannot be matched automatically due to description differences or other factors, click the 'Match' button to find and select it manually.
Steps: a. Click the 'Match' button. b. Use the search box to find existing transactions or filter by transaction type and date range. c. Customize the visible columns if needed to locate the transaction easily. d. Once you find the correct transaction, click 'Select'. e. The system will instantly match it, displaying a green checkmark.  |
Creating Transaction
If the transaction isn’t recorded in Bukku yet, you can create a new one on the spot.
1st Example: Creating a new Money Out transaction.
Steps: a. Click the 'Create' button, and select 'Money Out'. b. Enter the necessary information for your transaction. c. Once you’re finished, click 'Create & Match'. d. The system will instantly match the transaction, displaying a green checkmark.  |
2nd Example: Creating a new Sales Payment and applying it to its Credit Sales Invoice.
Steps: a. Click the 'Create' button, and select 'Sales Payment'. b. Choose the contact's name, and the credit sales invoice will appear for you to tick and apply the payment. c. Once you’re done, click 'Create & Match'. d. The system will instantly match the transaction, displaying a green checkmark.  |
Split & Match and Merge & Match
This function allows you to accurately reconcile bank statement lines by splitting or merging entries to match your recorded transactions in Bukku.
Splitting and Matching Transactions
If there’s a single line on your bank statement but two separate transactions recorded in Bukku, you’ll need to split the bank statement line to match each transaction individually.
Example:
Two transactions are recorded in Bukku—RM6,000.00 (PV-00033) and RM30,000.00 (PV-00032), while the bank statement shows a single line of RM36,000.00.
Steps: a. Click the Split & Match icon at the bank statement line. 
b. Enter the amounts for each transaction as they appear in Bukku, then click 'Split'.
c. The system will automatically match each split line to the corresponding transaction.  |
Merging and Matching Transactions
If multiple lines on your bank statement correspond to a single transaction recorded in Bukku, you’ll need to merge the bank statement lines to match them with the transaction.
Example:
A transaction has been recorded in Bukku for RM156.40 (PV-00005), while the bank statement shows two separate lines: RM132.80 and RM23.60.
Steps: a. Tick the relevant bank statement lines and click the 'Merge & Match' button.
b. Review the description and amount, then click 'Merge'.
c. The system will automatically merge the lines and match them to the corresponding transaction.
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Un-reconcile a Transaction
If you need to amend the date or amount of a reconciled transaction, you’ll first need to un-reconcile it. For example, if you need to amend PV-00033, which was reconciled on the statement date of 30/09/2019.
Follow these steps to do so:
Go to the Reconciliation Page: Head to Bank > Accounts > at Your Bank Account click Reconcile. Select the statement date (30/09/2029) that includes the transaction.
Locate the Transaction: Click the bin icon to Clear the matching transaction.
This action changes the reconciliation status to Unmatched.
Save Changes: Click Save on the reconciliation page.
Edit Transaction in Bukku: Find and amend the transaction details, such as date or amount, as needed.
Reconcile Again: Return to the Reconciliation page to match and reconcile the transaction after editing.
Notes:
To remove the reconciliation status for all transactions on a specific statement date and redo the reconciliation for that month, click the 'Delete' button.
This action will remove the reconciliation status for all transactions associated with that date, and the entire reconciliation page will be removed. Rest assured, no records will be deleted from Bukku.
