Bank reconciliation - speed issues

Caroline Plowman
Caroline Plowman Member Posts: 10 Novice Member Novice Member
edited October 2024 in Accounts Hosted

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  • John Graetz
    John Graetz Member Posts: 1,663 Reckon Star Reckon Star
    edited July 2020
  • June Hong_9508447
    June Hong_9508447 Member Posts: 7 Novice Member Novice Member
    edited December 2018
    We reconcile daily so it is good most of the time. Maybe just try a daily or weekly basis.
  • Unknown
    Unknown
    edited August 2019
    This content has been removed.
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,840 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited July 2020
    I always recommend entering transactions/maintaining correct balance daily but RA "Reconciling" as per actual Statements only.  This allows matching of all totals - opening, closing & debits/credits - with the source document.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    That's what we do but as of about halfway through the month, the speed slows down a lot and given we have ten branches, this takes a considerable amount of time to load each statement daily...
  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    Yes that's exactly why we do it: do you not get any speed issues though? Maybe we just have too many bank transactions...
  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    Because then we would have way too many bank reconciliation reports: this way there are 12 per year per branch (times ten branches: which is sufficient)...
  • Unknown
    Unknown
    edited December 2018
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  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    No I mean when you open up the bank reconciliation to tick the cleared items off: the opening itself takes a long time during the second part of the month when there are a lot of transactions...
  • John Graetz
    John Graetz Member Posts: 1,663 Reckon Star Reckon Star
    edited December 2018
  • Unknown
    Unknown
    edited December 2018
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  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    Thanks John, yes I can print bank statements for whichever period I choose too, that's not the problem. I just prefer to have less reports to revert back to when there is an issue but we are going to try and see whether one report for 1-15th and one for 16th to 31st resolves the problem:) hopefully a happy medium...
  • Unknown
    Unknown
    edited December 2018
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  • Unknown
    Unknown
    edited December 2018
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  • Unknown
    Unknown
    edited December 2018
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  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    No we are not importing any qif files; just clicking reconcile in Reckon and opening up the page with bank transactions takes a few minutes per branch. It is the speed and that times ten on a daily basis which concerns me and is a waste of time.
  • Caroline Plowman
    Caroline Plowman Member Posts: 10 Novice Member Novice Member
    edited December 2018
    So what is your solution Kevin to deal with the speed issues?
This discussion has been closed.

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