A bank reconciliation function will help you to prevent editing an amount of documents, to control financial inflows and outflows of your business, and to resolve unidentified sources of money. There are 2 steps to accomplish this:
Step 1: Import Files Statement
You can import data from 2 sources: 'Bank Statement File' and 'PEAK File' (in Excel format)
Step 1.1: Go to the "Finances" menu >> "Cash/Bank/e-wallet" >> "Overview" >> select a bank channel you want to reconcile >> select "Statement" tab >> click "Import Files Statement".
Step 1.2: Choose an import format >> Uncheck the "Auto reconcile by system" option >> Search for the saved file >> click "Import".
Step 2: Reconciliation Process
A reconciliation process involves the following steps:
Step 2.1: Recheck the completeness and accuracy of imported transactions >> Click 'Reconcile'.
Step 2.2: Go to the "Reconcile tab" >> The system will show the accounting entries records and bank transaction >> Select the matched bank transactions to reconcile.
**Note: You can match multiple main transactions on each side.
For example:
Account record: 3 transactions, amount: 3,210 Baht. (The system will not reconcile if the balances on both sides do not match, and it will provide a notification for the remaining amount that is still outstanding.)
Bank transaction: 1 transaction, amount: 3,745 Baht.
Step 2.3: If the matched transactions have the correct and accurate amounts, a Pop-Up will appear notifying "Change to Pending Complete"
Step 2.4: Go to the Pending tab >> Recheck the matched transactions >> You can choose 2 Options:
Option 1: Done for all, Choose 'Reconcile All' or 'Remove All'.
Option 2: Done for any transaction, Click ✅ mark >> Choose 'Reconcile' or 'Remove'
Note: If any transaction is incorrect or unwanted, you can remove it.
Step 2.5: The system will notify the successful reconciliation and show the number of reconciled transactions.
Go to the respective bank > Accounting record and Statement Tab will show a Lock symbol for the reconciled transactions.
Note: A reconciliation in New PEAK is separate from the Old PEAK and does not reflect together in the accounting entries records. (The system retains the previously reconciled information). We recommend performing the reconciliation only through New PEAK.
You can watch the video tutorial for a reconciliation on New PEAK (Manual Reconcile)(NF011) at the following link: Bank Reconciliation in New PEAK.