Banking
Every month your bank sends you a statement — a list of money that went in and money that went out. Your books in Bizconnekt already record the payments you made and the money you received. Banking is where the two meet. You bring in your bank statement, line it up against what you recorded, and tick off each line until the two agree. That check is called reconciliation, and it's how you know your books are right.
You don't need to be an accountant to do it. Bizconnekt does the heavy lifting: when you bring in a statement, it looks at every line and suggests which recorded payment or receipt it belongs to. You confirm the matches it found, sort out the few it couldn't, and you're done.
Availability depends on your plan and your role.
The idea in one picture
Your bank knows what actually happened. Your books know what you recorded. Reconciliation lines them up:
Bank statement line Your books
───────────────────── ─────────────────────
₹50,000 paid out ◄────────► Payment to supplier ABC
₹18,000 received ◄────────► Payment received from customer XYZ
₹250 bank charge ◄─── no match yet ───► add a small adjustment
───────────────────── ─────────────────────
Everything matched = books agree with the bank
When every line on the statement is accounted for, you're reconciled — and you can trust every report that reads from your books.
What you can do here
Keep your accounts
- Hold each bank account in Bizconnekt, with its name and number
- Bring in a statement by uploading the file your bank gives you
- See the opening and closing balance for each statement you bring in
- Track how much is matched and how much is still to do
Match and tidy up
- Confirm the matches Bizconnekt suggests for you
- Match the rest by hand when you know which payment a line belongs to
- Handle small differences — a bank charge, a rounding gap — with a quick adjustment
- Pay several bills in one go and reconcile them together
A real month, start to finish
Here's how a business owner reconciles last month in a few minutes:
- Download the statement from your bank's website (or export it) for last month.
- Bring it into Bizconnekt against the right bank account. Every line appears in a list.
- Most lines match themselves. Bizconnekt recognises the payments and receipts you already recorded — a transfer with the same reference number, or the same amount on the same day — and suggests them for you. You glance down the list and confirm.
- A handful are left over. Maybe a customer paid you and you hadn't recorded it yet, or the bank took a small charge. You match those to the right entry, or record the missing one.
- A tiny difference? If a line is off by a small bank charge or a rounding gap, you add an adjustment to close it — a one-line note that explains the difference.
- Done. When the last line is accounted for, the statement shows as fully matched, and your books agree with the bank down to the last rupee.
The three things a statement line can be
As you work through a statement, every line is in one of these states. This is the whole game — you're moving lines from "not matched" to "matched".
| State | What it means | What to do |
|---|---|---|
| Not matched | The line hasn't been tied to anything in your books yet | Confirm a suggestion, match it by hand, or record the missing entry |
| Partly matched | Some of the line is accounted for, but not the whole amount | Match the remainder, or add an adjustment for the difference |
| Matched | The line is fully tied to a payment, a receipt, or an adjustment | Nothing — this line is done |
| Ignored | A line you've deliberately set aside as "not our concern" | Nothing — it's settled, and it won't count as outstanding |
Where Banking fits with the rest of Bizconnekt
Banking doesn't work alone — it checks the work you've already done elsewhere:
- Payments you made to suppliers are recorded in Payments Made. Those are what a "money out" line usually matches to.
- Money customers paid you is recorded in Payments Received. Those are what a "money in" line usually matches to.
- Small differences — bank charges, rounding — are posted as an adjustment, which lands in your books just like a Manual Journal entry.
Because it all lives on one system, you can run complete books on Bizconnekt from day one — and if you keep Tally alongside, Bizconnekt stays in sync with it, so the choice of where you work stays yours.
Getting started
| Task | Guide | Time Required |
|---|---|---|
| Add a bank account and bring in a statement | Add a Bank Account & Import a Statement | 5 minutes |
| Reconcile a statement and manage your accounts | Reconcile & Manage | 10 minutes |
Related guides
- Add a Bank Account & Import a Statement - Set up an account and bring in your statement
- Reconcile & Manage - Match lines and close off the month
- Payments Made - Money you paid out to suppliers
- Payments Received - Money customers paid you
- Manual Journal - Record custom accounting entries
Need help? Contact support at support@bizconnekt.com