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Everything to have in place before you reconcile a bank statement in ERPNext — from the Bank Account masters to statement imports, the Reconciliation Tool, auto-match rules and cheque clearance.
31 checks · 6 sections
Bank reconciliation in ERPNext is only as smooth as the setup behind it. Get the Bank and Bank Account masters right, teach ERPNext how to read your bank's statement format, and the Bank Reconciliation Tool does most of the matching for you. This is a reference guide, not a tracker — read it as a map of what a clean reconciliation setup looks like, using the actual doctypes and fields you'll meet in ERPNext. Each item names where the setting lives so your team (or your implementation partner) can confirm it's in place before month-end.
Create a Bank record for each bank you use + 4 more
Use Bank Statement Import to load statements + 5 more
Open the Bank Reconciliation Tool for the account + 5 more
Define Bank Transaction Rules for recurring items + 4 more
Record the Reference Number and Reference Date + 3 more
Reconcile on a fixed rhythm + 4 more
All 31 checks across 6 sections as a clean branded Excel — each item with the guidance for why it matters, ready to share with your team. Free, no email required.
They solve two different problems. The Bank Reconciliation Tool matches imported Bank Transactions from your statement to Payment Entries or Journal Entries (and can create vouchers for charges or interest). Bank Clearance is about timing — it lets you set the Clearance Date on payment entries so a cheque issued in one period but cleared later lines up with when the bank actually processed it. Most teams use both.
Not necessarily. Bank Statement Import handles CSV, Excel and MT940 files with a reusable column mapping, so once your bank's format is mapped, each import is quick. Where supported, Plaid Settings can enable an automatic bank feed that syncs accounts and creates Bank Transactions without a manual upload. Many Indian businesses still import files because their bank isn't on an automated feed — both paths lead to the same Bank Transactions.
A Bank Transaction Rule watches for transactions that match a description pattern (Contains, Starts With, Ends With or Regex), a transaction type and an amount range, then automatically classifies them and posts to a chosen account and party. Set up rules for recurring items like bank charges, interest, or a regular vendor's payments, order them with Priority, and the Reconciliation Tool proposes the right treatment instead of you matching each line by hand.
First confirm the Bank Account is marked Is Company Account and linked to the correct Company Account ledger, then check the Bank Reconciliation Tool's opening and closing balances against the statement. Common causes are un-imported transactions, cheques that haven't been cleared via Bank Clearance yet, duplicate imports, or transactions still sitting as Unreconciled. Working the exceptions one at a time — rather than the total — is the fastest route to a clean tie-out.
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Kochi (Kadavanthra & Infopark) · Thiruvananthapuram · across India & overseas · In business since 2011