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How to Batch Reconcile with Bank Reconciliation Sheet

If you receive reconciliations from your bank on a monthly, weekly, or even daily basis, you can streamline the process by using the "Batch Process" functionality in GoFreight. This guide will walk you through the steps to efficiently batch reconcile transactions.

Which Role Can Access by Default

  • General Manager
  • Accounting Manager
  • Accounting

Accessing the Batch Process Function

  1. Navigate to Accounting > Bank > Batch Process.

Selecting the Reconciliation Action

  1. Choose the action you want to perform:
    • Deposit
    • Clear Check
    • Cancel Deposit
    • Cancel Clear

Filtering Transactions

  1. Set the post date:
    • Select “As of today” for current transactions.
    • Alternatively, select a time range (e.g., Over 30 days) to filter past payments.
  2. If applicable, choose the office handling the payments.
  3. Select the bank account you are reconciling.
  4. Click Search to view all payments that match your selected criteria. For example, if you select 'Deposit' or 'Clear Check' as your action, the results will show payments that have not yet been deposited or cleared in the bank account.

Cross-Checking Transactions

  1. Compare the listed transactions with the bank reconciliation sheet.
  2. Verify amounts by checking the Amount (USD) column.
  3. Manually select payments to be processed by checking the corresponding checkboxes.

Viewing Payment Details

  1. If more details are needed, click the arrow icon under the Check No. column to view the specific payment page.

Setting the Deposit or Clear Date

  1. Set the Deposit Date or Clear Date to the actual date the money was deposited or withdrawn from the bank account.

Handling Deposits to Different Banks

  1. If a transaction was meant for one bank but was deposited into another, change the Deposit Bank accordingly.
  2. If the bank account in the payment matches the reconciling account, select Keep the Current Deposit Bank.
  3. Click Apply to process all selected transactions at once.

Reviewing Batch Processing Logs

  1. Scroll down to view previous batch processes in the Log section.
  2. Click the Detail icon to review specific batch transactions.

Best Practices for Bank Reconciliation

  • Focus on two modules during reconciliation: Deposit and Clear Check.
  • Conduct monthly reconciliations to save time instead of checking individual deposits manually.

For a visual guide on using this feature, please refer to the following video: