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Analysing bank statements – Background- Analysing the bank statement is at the core of bookkeeping for small businesses.
- Bank statements are stored in My Bookkeeping Online by month, regardless of how your bank stores them, and are accessed via the Dashboard, or via Awaiting Completion.
- Each month has a "Bank Data" page, in which transactions are listed down the page, in date order.
- Each transaction has three boxes, across the page:
- The Left Hand Box contains the data from the bank statement
- The middle box is for selecting the contact
- The right hand box is for the category and, if relevant, the VAT amount.
- When you selected the correct contact in the middle box, the category and VAT rate stored against the contact will appear in the right hand box.
- If you are using the sales and purchase ledgers, use the Match To area in the middle box to match the transaction against entries in the relevant ledger.
- To save the contact and the category assigned to the transaction, tick the box at the end of the row, and the reports in the system will update to include the details.
- Analysing the bank statement is at the core of bookkeeping for small businesses.
- Bank statements are stored in My Bookkeeping Online by month, regardless of how your bank stores them, and are accessed via the Dashboard, or via Awaiting Completion.
- Each month has a "Bank Data" page, in which transactions are listed down the page, in date order.
- Each transaction has three boxes, across the page:
- The Left Hand Box contains the data from the bank statement
- The middle box is for selecting the contact
- The right hand box is for the category and, if relevant, the VAT amount.
- When you selected the correct contact in the middle box, the category and VAT rate stored against the contact will appear in the right hand box.
- If you are using the sales and purchase ledgers, use the Match To area in the middle box to match the transaction against entries in the relevant ledger.
- To save the contact and the category assigned to the transaction, tick the box at the end of the row, and the reports in the system will update to include the details.
