Bank reconciliations - small improvement could make big difference

Feature Request
1

I have just started to use QF and pretty much love everything about this package. The tagging system to create accurate profit and loss / balance sheet reports is so easy to use but the bank reconciliations are throwing me a bit. I am used to the way sage and quickbooks do this area and wonder if the following is available somewhere but I have not found it yet.

  1. When I have reconciled my bank statement and got the Green perfect and then leave this screen the information in the bank reconciliation fields clear out. Is there a way that these figures can stay so I know what dates I have reconciled up to and when I come to do the next month could easily transfer the closing balance to the opening balance for the next month?
  2. A report of the reconciled transactions that I can down load teach time I reconcile to refer to if a mistake creeps in at later date
  3. A summary report that just shows the bank account end balance for each month. Again just to help resolves errors that may creep in.

I provide accountancy and systems support to lots of small businesses and want to start recommending QF to some but know that the bank reconciliation area will cause them issues. If they always use bank statement downloads to drive their accounts, I can see that the bank will always balance, so no worries, but as soon as a user makes amendments that affect the bank account errors will creep in that could be difficult to find.

ie if a user goes to their data and mistakenly changes a wage journal from way back which has a bank payment on it what would be the best way to find and rectify that error?

I can see from the forum that lots of people share my concerns about bank reconcillations and just wonder if the suggestions I have made could be considered for adding to the system if they are not actually available.

2

Hello @hsw.dotgmail.com

At present none of the information entered on the reconcile screen is saved or stored globally or at a transaction level.

For all 3 of your suggestions, wouldn’t the information be on the bank statement anyway? (Opening balance, list of transactions and end balance)

There are no plans to make changes to this feature in the near future but I have changed the category of this post to Feature request, that way other users can comment and add their votes.

3

The information is available in the bank statements but it means that, that source data has to be used as your way of recording banking onto QF rather than recording payments as you make them / receive them and then use the bank statement to check this data. This is the system that used to be essential. Ie So lost cheques could be picked up very quickly but is less important now that a lot of companies and people pay via bank transfers but QF makes it so easy to amend data I do think an easy way to spot which month is wrong on the bank would be great.

Note. When I started to use you package I was inputting via imports and journals a tears worth if transactions taken from an Excel spreadsheet. I imported the companies sales invoices and when they were paid using the import system to get this data into QF but then found it really time consuming to get the bank to balance so I do think that the major issue with your current system is when you are first trying to use it and want to add in historical data as quickly as you can. Getting new users on board is really important so maybe people will vote for a little bit of work in this area. Regards Helen

4

This may help if you have a banking feed
https://support.quickfile.co.uk/t/bank-balance-monitoring/34509

5

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