How to
How to Reconcile Bank Statements with Your EBS
A practical guide to monthly bank reconciliation
Bank reconciliation is the process of matching your EBS transactions to your bank statement. Here is how to do it.
Step 1: Download your bank statement
Download the statement from your bank's online portal. Most banks offer CSV or PDF export.
Step 2: Import into your EBS
Most EBS systems can import the bank statement directly. The system will auto-match transactions.
Step 3: Review unmatched transactions
Some transactions will not match automatically. Review them and either match them manually or create a journal entry.
Step 4: Investigate discrepancies
Bank fees, interest, and direct debits may not have an EBS match. Create journal entries for these.
Step 5: Lock the period
Once reconciled, lock the period to prevent accidental changes.