[FINERACT-109] Bank Reconciliation Module

• Type: New Feature
• Status: Reopened
• Priority: Major
• Resolution: Unresolved
• Component/s: Accounting
• Labels: Cleanup2022 functional
• Assignee: Francis Guchie
• Reporter: Emmanuel Nnaa
• Created: 23/Mar/16 13:05
• Updated: 23/Aug/23 15:17

Description

A number of MFIs have requested the addition of a bank reconciliation module, making it easier for them to reconcile any journal entries made against their Bank Account GL(s) in Fineract, with the actual transactions in their bank account. First thoughts on how this would work below:

• User will need the ability to select a specific GL Account to reconcile. Perhaps a checkbox should be added when creating / editing a GL to specify if it should be made available in the reconciliation module
• Reconciliation module should show all GL accounts that were previously made available, along with the reconciled balance and unreconciled balance
• User should then be able to select the GL account, and pull out either all journal entries between a start and end date, or all unreconciled entries, or all reconciled entries
• User should have the ability to tick a checkbox for any entry that they wish to reconcile and then to save at the end once they have ticked multiple checkboxes they can save
• The act of reconciliation should be tracked and shown in the audit module

The more complex, but key, addition, will be the option to group (or if possible to sum) all transactions with the same reference together. This will be useful when reconciling group postings which appear as multiple GLs in Fineract, but only one transaction in the bank account.