Reconciliation
Zoho ERP lets you reconcile your bank accounts to ensure that the transactions recorded in Zoho ERP match your bank statements. You can reconcile accounts for a specific reporting period or at the end of every month to keep your records accurate identify any discrepancies.
To reconcile a bank account:
- Log in to your Zoho ERP organisation.
- Go to the Banking under Accounting Module from the left sidebar.
- Select the bank account you want to reconcile.
- Click the Gear icon in the top-right corner and select Reconcile Account.
- Click Initiate Reconciliation.
- Enter the Start Date and End Date for the reconciliation period.
- Enter the Closing Balance as shown in your bank statement.
- Click Start Reconciliation.
Warning: Once transactions are reconciled, the opening balance cannot be edited. Make sure the opening balance is accurate before reconciling the account.
- Now, Select the transactions you would like to reconcile.
Note: Only matched, categorised, and manually added transactions appear in the reconciliation window.
- If required, add transactions to adjust your cleared amount by selecting the +Add Transaction option below the transactions list.
- If required, click the Edit icon next to the Closing Balance.
- Enter the amount and click Update.
Note: Make sure that the Closing Balance and Cleared Amount are the same and the difference is zero to reconcile your account.
- Click Reconcile to complete the process or click Save and Reconcile Later if you want to reconcile later.
After successful reconciliation, the status updates to Reconciled.
Undo a Reconciliation
If you added an incorrect transaction during a previous reconciliation, you can undo the reconciliation and make the necessary changes. However, only the most recent reconciliation can be undone directly. If the reconciliation you want to edit is not the latest one, you must undo all reconciliations performed after it.
Note: If an incorrect transaction was added during a reconciliation done six months ago, you’ll need to undo all reconciliations carried out over the past six months.
To undo a reconciliation:
- Log in to your Zoho ERP organisation.
- Go to the Banking under Accounting Module from the left sidebar.
- Select the bank account for which you want to undo the reconciliation.
- On the account details page, click the Gear icon in the top-right corner.
- Select Reconcile Account from the dropdown.
- On the next page, you’ll see a list of all recorded reconciliation periods.
- Hover over the reconciliation period you want to undo and click the More icon.
- Select Undo Reconciliation.
- Click Proceed to confirm.
Once the reconciliation is undone, you can edit the transactions and reconcile the account again.
Delete a Reconciliation
You can delete a reconciliation that you’ve recorded in Zoho ERP by following these steps:
- Log in to your Zoho ERP organisation.
- Go to the Banking under Accounting Module from the left sidebar.
- Select the bank account for which you want to delete the reconciliation.
- On the account details page, click the Gear icon in the top-right corner.
- Select Reconcile Account from the dropdown.
- On the reconciliation page, view the list of recorded reconciliation periods.
- Hover over the reconciliation period you want to remove and click the Delete icon.
- Click Proceed to confirm the deletion.
Once deleted, you can edit the transactions and reconcile the account again if needed.