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Bank reconciliation is the controlled comparison of a bank statement with the cash book or accounting ledger. Every difference should be matched, explained as a genuine timing item, or corrected with an approved entry. The objective is not to force the balances to agree. It is to prove why they agree.
1. Set the account, period, and cut-off
Confirm the bank account, currency, statement opening and closing dates, and closing balance. Lock down which receipts and payments belong before the cut-off. If the statement has several pages or files, verify continuity and totals.
Start from the previously approved reconciliation. Old outstanding items should carry forward with the original date and reference rather than disappearing into a new total.
2. Import or enter statement lines
Use a supported bank feed or a complete statement export where available. Preserve the source file and import record. Check opening balance, closing balance, date order, duplicate lines, currency, and number of transactions before matching.
PDF extraction can be useful for reference but may introduce missing signs, wrapped descriptions, or duplicate rows. Validate it against the official statement.
3. Match clear transactions
Match customer receipts, supplier payments, payroll, transfers, direct debits, card settlements, and other ledger entries using amount, date, reference, counterparty, and supporting record. Automated rules should propose matches with confidence and leave an audit trail. They should not silently post uncertain items.
4. Record bank-only entries
Bank fees, interest, direct debits, merchant charges, standing orders, and returned payments may appear in the bank before accounting. Create the correct entry with date, tax treatment, account, description, and evidence. Do not send every difference to a suspense account and forget it.
5. Identify timing differences
A deposit in transit is recorded in the cash book but reaches the bank later. An issued payment may not have cleared. These can be valid differences at the statement date, but each needs a reference, amount, original date, evidence, and expected clearing date.
Review old items. A cheque or transfer outstanding for an unusual period may need investigation, cancellation, reissue, or another treatment under company policy and applicable rules.
6. Investigate errors and duplicates
Check transposed digits, wrong accounts, duplicate imports, wrong signs, currency conversion, net card settlements, unposted refunds, receipts applied to the wrong customer, and transfers recorded on only one side. Correct the source transaction where possible and preserve approval history.
7. Prepare the reconciliation statement
Show the bank statement balance, valid timing differences, adjusted bank balance, cash-book balance after approved entries, and any unresolved difference. The two adjusted balances should agree. Attach the statement, source file, transaction list, supporting entries, and outstanding-item schedule.
8. Review and close
A reviewer independent of preparation should inspect material matches, all adjustments, unusual counterparties, old outstanding items, suspense balances, and the final agreement. Approve the reconciliation with date and identity, then close or lock the period according to company policy.
Monthly exception checks
- unreconciled lines and age;
- old deposits or payments in transit;
- manual journals posted directly to bank accounts;
- duplicate amounts or references;
- weekend or unusual-time transactions;
- new beneficiaries and changed bank details;
- reconciliations prepared or approved late.
The Codeblix bank reconciliation page covers the software workflow, while accounting and reporting connect the control to receivables, payables, and management review. Automation can reduce matching effort, but the business still needs evidence, investigation, and accountable approval.
Why this matters for Mauritius businesses
Mauritius is rolling out MRA e-invoicing in phases by taxpayer category. The timetable and status can change, and MRA may separately notify a taxpayer, so businesses should check the current MRA e-invoicing page and their own notices before acting on a deadline.
The Codeblix approach
Codeblix eInvoicing is MRA-listed as an EBS Solution Provider (SN 95, BRN C24214425). The system handles every aspect of MRA compliance automatically - real-time fiscalisation, IRN tracking, QR code generation, hash chain maintenance, and monthly transaction reporting. The local support team in Chamouny is available to help with any MRA query, audit, or transition question.
What to do next
If your present process does not support the fiscal-invoice requirements that apply to your business, document the gap and test an appropriate EBS workflow. Codeblix can review your business requirements and onboarding scope before preparing a proposal; regulatory conclusions remain with the taxpayer and its advisers.
Frequently asked questions
The most common questions about how to do a bank reconciliation in your ebs are covered in the FAQ section below. If you have a question that is not covered, the local Codeblix support team is available by phone, WhatsApp, or email.
Related resources
Codeblix publishes a regular blog covering MRA e-invoicing, VAT compliance, payroll, and business management for Mauritius businesses. The blog is updated weekly with new guides, how-tos, and case studies. You can also find detailed product documentation, video tutorials, and a knowledge base in the Help Centre.
Frequently asked questions
What is a bank reconciliation?
It is a controlled comparison of the bank statement with the cash book or accounting ledger, followed by an explanation and correction of every difference.
Why can the bank and cash book differ without an error?
Timing items such as deposits in transit and issued but uncleared payments can appear in one record before the other. They still need evidence and follow-up.