In order to be sure your banking transactions are correct you should regularly check that the bank balances in Pandle match the balances on your bank statements. If they do not then you know there are errors and/or omissions which need to be addressed.
There are a number of reasons your balances may not agree and they can depend on your entry method:
Opening Balances (all entry methods)
If you are transferring to Pandle from another system then the chances are that opening balances need to be entered. Your opening balances will include your opening bank balances, so once they have been entered into Pandle, your bank balances should be correct.
Errors and Omissions (manual entry only)
If you are using file imports or bank feeds then Pandle does not allow errors or omissions that could cause your balances to differ. This would only be applicable to transactions you enter manually. If you have made mistakes or left out transactions when entering manual banking transactions then you will need to go through your bank statement and compare it to the transactions in Pandle.
Here are some tips for doing this:
Go to Enter Transactions > Banking > click on the bank name (hyperlink). This will open a pop out screen containing your bank transactions. Click on the date heading to order by date and then click the export symbol to export to Excel.
You can then download your banking transactions from your online banking in Excel format and copy and paste them into the same workbook. Then you can compare the transactions in Excel to highlight erroneous or missing transactions.
It is recommended that you start from the oldest date your balances did not match and work forward from there. You can compare historic balances by running a trial balance report, balance sheet report or by adjusting the end date in Categories.
Overlapping Periods (file imports only)
If your entry method is file imports, it can be possible for duplicate transactions to be included if you overlap periods. For example, if you import a CSV file into Pandle for the period 1st March to 15th May and then later upload another CSV file from 10th May to 30th June you will have overlapped 5 days worth of transactions. Similarly, you may have missed a period.
To correct this you will need to check your banking transactions to see when this may have occurred.
Go to Enter Transactions > Banking > click on the bank name (hyperlink). This will open a pop out screen containing your bank transactions. Click on the date heading to order by date and then click the export symbol to export to Excel. You can then scroll through your transactions to look for duplicates and missing periods. To correct, simply delete duplicates or upload the missing periods.
Please also see; Entering your business transactions