It's good practice to check that the bank balance shown in Pandle matches the balance shown in your bank. Unbalanced accounts (where the balances don't match) can be a sign that there are errors or omissions which need to be addressed.
There are a number of possible reasons why your balances may not match, and they can depend on your entry method:
Opening Balances (all entry methods)
If you are transferring to Pandle from another system, the chances are that you will need to enter opening balances. Opening balances are just that - the balances that you open with, and the figures come from the closing balances of your previous system.
Opening balances will include your opening bank balances, so if your balances don't match then you might need to double-check that you have entered these. Once they have been entered into Pandle, your bank balances should be correct.
Errors and omissions
Using file imports or bank feeds to enter information into Pandle means there is a much lower chance of accidental errors or omissions in your records, especially when compared to entering your bank transactions manually. Even a small typo can have an impact!
If your Pandle balance and bank balance don't match, it can indicate that a mistake was made when entering manual banking transactions. You will need to go through your bank statement and compare it to the transactions in Pandle.
It can be useful to compare your running balance in Pandle to the running balance on your bank statement, to see the last date the balances matched. This will make it easier to identify when the mistake happened.
To view the running balance for an account in Pandle, click 'Banking' in the menu navigation, and then select 'Bank Accounts'.
Click the name of the account that you would like to see running balances for.
This will load a pop up window showing your running balances, debit and credit amounts. You can use this column to compare to your bank statement.
You can also download your banking transactions into Excel and copy and paste them into the same workbook as your bank statements to compare the dates of the running balances and find where the discrepancy started.
To download your banking transactions from Pandle, click the 'Export' icon in the pop up window.
Overlapping or missing time periods in file imports
If you use File Imports as an entry method then it is 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
You later upload another CSV file from 10th May to 30th June
These two time periods overlap by 5 days, so there might be 5 days worth of transactions which appear in your records twice.
Similarly, it's possible to miss a time period, so that transactions are not imported into Pandle but they appear in your bank account.
To correct this, check your banking transactions to see when this may have occurred.
Click 'Banking' in Pandle's menu navigation, and then select 'Bank Accounts'.
Click the name of the account that you would like to check.
This will open a pop out screen containing your bank transactions. Click on the 'Date' heading to order the transactions by date.
Scroll through to check for duplicates and missing periods. You can also download your banking transactions into Excel. Click the 'Export' icon in the pop up window.
To correct any issues, delete any duplicate time periods, or upload transactions from missing time periods.