In manual clearing, Bank statement details are to be matched manually considering certain rules. Learn the steps involved in manual clearing of bank transactions.
Manual Clearing
This method requires you to manually match bank statement details with system transactions.
The method is ideally suited to reconciling bank accounts that have a small volume of monthly transactions.
You need to also use the manual reconciliation method to reconcile any bank statement details that could not be reconciled automatically.
Steps in Manual Clearing
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The Cash Clearing process enables you to track amounts that have actually cleared your bank. Till reconciliation happens the amounts are parked in 'Cash Clearing Account'.
What is Account Reconciliation?
Before you understand the Bank Reconciliation Process it is important to understand what is account reconciliation and why it is carried out.
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