If it is manual one then you need to enter the statement manually into sap. If you receive an electronic statement then you just need to upload it to sap for the purpose of preparation of bank reconciliation statement. In sap you will be receiving two types of bank statement Periodically it is the responsibility of the accountant to prepare a bank reconciliation statement and produce the same before the management to know if there are any discrepancies.
There can be some other reason for which your company’s account and the bank statement will not tally. Because of this transaction there will be a mismatch between the account maintain at your company and the account maintained by bank (while giving a cheque to your vendor you have entered it as a business transaction to your books of account by crediting your bank account but bank is not aware such transaction as they have not received the cheque yet). There can be some instances where both the accounts will not tally.įor example: suppose you have given a cheque to your vendor and your vendor has not presented it to bank for payment till date. Bank reconciliation statement is reconciliation between the account maintained by your company and the account maintained by the bank.