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Bank reconciliation

Owner

Explain each statement line against books that already exist. Match first. Record new activity only when you mean to.

Who uses this​

The owner works For Review and finalizes. An accountant can review and resolve lines. A manager cannot import statements or finalize a period.

What you need first​

  • Opening books confirmed
  • An Access Bank (or other) account on Banking
  • An imported statement with a confirmed ending balance
  • The day's POS sales and expenses already in the books when they exist

What a good shop day looks like​

Take Iweka Daily Mart on a busy Saturday. Nkiru sold rice, oil, and drinks on the till. Cash went in the drawer. Transfers hit Access Bank as POS deposits. NEPA and a supplier debit already have expenses. The statement is evidence to explain those records. It is not permission to invent income.

Steps​

1. Import the statement once​

Open Banking, then the operating account. Import the CSV for one period. Type the bank's ending balance and confirm it. MarketPro rejects an overlapping period. Do not edit imported amounts to force a match.

2. Work For Review, match first​

Open For Review. For each line, prefer Match existing:

  • A cash lodgement matches cash sales you already took.
  • A transfer in matches transfer sales or a POS settlement.
  • A debit for rent or power matches the expense you already recorded.

Only use Record new when the activity is not already in the books, and type why. Bank fees, owner funding, loans, and internal transfers have their own intents. Do not post a POS deposit as new income.

For Review with Match existing on a statement line that already has a sale or expense.
For Review with Match existing on a statement line that already has a sale or expense.

3. Check merchant settlements​

If Paystack or another acquirer paid a net deposit, use the merchant settlement intent. Gross eligible receipts minus fees and withholding must equal the net bank credit. One receipt cannot sit in two active settlements.

4. Reconcile and finalize​

Open Reconcile. Unmatched must be 0 and the difference ₦0.00. The book balance comes from posted journals as of the statement end date. Finalize once. Only the owner can reopen a finished reconciliation.

Reconcile screen with unmatched at zero and a ₦0.00 difference.
Reconcile screen with unmatched at zero and a ₦0.00 difference.

What done looks like​

  • Every imported line has an intent: match, settlement, record new, transfer, funding, loan, or a documented duplicate.
  • Matched lines point at the source receipt or expense.
  • You can finalize only when unmatched is 0 and the difference is ₦0.00.

Common mistakes​

  • Do not record a POS deposit as new income if the sale already exists. Match it.
  • Do not change the imported statement balance to force a match.
  • Do not let a manager finalize from an API client. Finalize is owner work.