Standardization of Bank Reconciliation Process

[Chude_Osiegbu]

@sellisjr,

I completely agree with you and only just dropped a similar comment (but not as exhaustive as yours) in the bottom part of this post here:

Student fees and accounting

Hi All, Additional changes we are making on our fork are: Support for multiple schools Linking of School to company Inclusion of the following fields into Fee Category: ---- Fee Income (P&L) link field to Account ---- Deferred Fees (BS) link field to Account Inclusion of a field on Fee Category that indicates whether the Fee is earned at the point when the Fee is generated (e.g. an Enrollment Fee) or at the point when the service is provided (e.g. Tuition Fees -where the earning h…

@felix
The Bank Reconciliation Tool as it’s implemented in ERPNext is not quite complete. It is only capable of matching Payments that have already been booked manually into ERPNext with bank statement upload with the only purpose being to synchronize the value date of the Payment document booked in ERPNext with the actual value date coming through in the bank statement. The tool as it stands today does not make any postings of its own.

Ideally, the Bank Reconciliation Tool should be able to post Journal Entries between Bank and Bank Clearing accounts for incoming and outgoing payment scenarios. These will then be matched by the payment booking which posts between 3rd party and Bank Clearing accounts (outgoing payment scenario)

@sellisjr I’m happy to contribute to this by contributing to a bounty and to a specifications document. Do post a link to the bounty that you raise.

Regards,
cksgb