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Bank Reconciliation In odoo 12

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Author

Muhammed NizarudheenApril 29, 2019

Bank Reconciliation In odoo 12

Linking your account details with bank statements can consume lots of time. Odoo makes bank reconciliation easier. Once the bank statements are accurately imported, it is essential to reconcile the records appropriately and ensure all Journal Entries are balanced and in agreement.

Odoo provides two ways of reconciliation process.

  1. Reconciliation is done automatically while registering payment.
  2. Open invoices can be reconciled  by creating bank statements.

Case 1:

In Odoo while validating an invoice/Bill, You see the button ->Register Payment.

Register payment while validating an invoice/Bill

If there is a payment in the invoice. You can click the button ->Register Payment. Now a wizard will pop up as shown below.

While clicking the button validate. You are updating the details of the payment.

Updating the details of the payment.

If you click the ->info button in the invoice/Bill. You can see that the payment is reconciled automatically. The below screenshot depict it.

The automatic reconciliation of payment .

In the above screenshot you can see the button ->UNRECONCILE

If you click this button, it will cancel the done reconciliation. In this case if you want to reconcile again,

Then go to ->Accounting ->Reconciliation

Option to reconcile again

Now you will get a window with left journal items to reconcile.

Click the button ->Reconcile

A window with left journal items to reconcile

Case 2:

If there is any open payment. You can reconcile it manually.

Select the ->Bank from the accounting dashboard.

Option to reconcile manually If there is any open payment

Click the ->Create button to create new statements.

Create button to create new statements for Bank Reconciliation In odoo

You can create new statements from here by adding values in the associated fields.

Click the button ->Reconcile

create new statements from here by adding values in the associated fields

If the Partner Name and Amount is correct. Then Odoo will reconcile it automatically. Else you can reconcile it manually.

Now click the ->validate button

validatation button for the Bank Reconciliation In Odoo 12

In short here is the end of Your bank reconciliation.

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