Bank statement to bank reconciliation is the process for entering and reconciling bank statements with cash transactions from accounts payable and accounts receivable and cash balances in the general ledger. This sounds like a terrible thing to do on a daily basis but it doesn't have to be. We had a look at how to improve this functionality in Openbravo and came up with the following ideas:
- Introducing an additional layer on top of grid and form views that shows an overview of the bank account, its items that need to be reconciled, some balances and shortcuts
- Possibility to import a bank statement
- Automatic matching of bank statement lines with Openbravo transactions. We need to figure out the exact logic here still but value, reference or keywords in the description could be used for automatic match finding. The user then only needs to verify whether the proposed match makes sense, and tick the box.
- Searching for matches among transactions and invoices. Making a match with an invoice and reconciling means that this invoice will change to status paid.
- Creating new transactions on the fly when they don't exist yet
- In case of partial payments we want to be able to match a bank statement line with a part of an invoice. This results in the invoice being paid partially. I call this splitting of the invoice but perhaps this term is not ideal as the invoice remains as a whole but there are just payments made against it.
Have a look at the mockup images and do give your feedback. Thanks!