The Party Ledger/Bank Reconciliation Excel Utility simplifies the process by automatically matching entries between two datasets, such as a party's ledger and your own books, or a bank statement and your cash book. The core of its functionality lies in its intelligent matching criteria. The utility reconciles entries based on a combination of:
Date: It primarily looks for transactions that occurred on the same date.
Reference Code (Optional): For more precise matching, users can include a reference code, such as an invoice number or transaction ID. This field is optional, providing flexibility in reconciliation.
Debit/Credit Amounts: The tool matches corresponding debit and credit amounts. A key feature is its built-in tolerance of ₹1, which helps to account for minor discrepancies that often arise from rounding off or slight data entry errors, preventing them from becoming reconciliation hurdles.
Flexible Reconciliation for Mismatched Dates
Recognizing that transaction dates may not always align perfectly between two sets of records, the utility includes a “different dates†mode. When this mode is selected, the tool employs a descending order sorting method for dates. This allows it to match transactions that are close in time, even if not on the exact same day, by prioritizing the most recent entries. This feature is particularly useful for clearing a backlog of unreconciled entries where timing differences are common.
It is free to use.
For any issues or support, users can reach out to the developer directly via email at gstrecohelp@gmail.com. #zip
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