Here we'll walk you through how to use the bank reconciliation module.
Bank reconciliation is the process of comparing the amounts in the cash account in the general ledger to the amounts appearing on the bank statement. The objective is to be certain that there is consistency between the amounts and that your company's amounts are accurate and complete.
To use bank reconciliation, you will need to have already added your bank accounts to Paragon.
From the home screen, hit the settings button in the top right corner of the screen.
The settings screen will appear. Select the bank reconciliation option in the financials card.
The bank reconciliation summary screen will appear.
Here, you can either manually enter your bank statements, or you can import your bank statement via an excel sheet. We'll walk you through each of the options.
First, hit the add button.
Then, start filling in your information:
If you'd like to import your bank statement in one shot via an Excel sheet, follow these instructions.
First, contact us at support@paragon-erp.com, and we'll send you the bank reconciliation template.
The template will look similar to this:
Once you're ready to upload the file, hit the green action button at the bottom right hand of the screen.
Hit import. Select your file and upload.
The bank statement transactions will appear on your screen, and you can start matching up transactions.
Once you've chosen your transaction types, and are ready to link your transactions, hit the click to link option. A modal will pop up and you should see your transaction to link.
Select your transaction, and hit the accept button when you're finished.
Once you've finished linking your transaction, you'll see that the reconciled column will have a checkmark to show it was reconciled.
Once you're done with your bank reconciliation, you can move forward with confidence, and reconcile as many accounts as you'd like.