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 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 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
If you are using file imports or bank feeds, this will be far less likely to happen, compared to manually entering your bank transactions.
If you have made mistakes when entering manual banking transactions, you will need to go through your bank statement and compare it to the transactions in Pandle.
We recommend comparing comparing your running balance in Pandle to the running balance on your bank statement, to see the last date the balances matched.
To view your running balance in Pandle, go to your Banking tab on the Enter Transactions screen. Then from here click on the name of your bank:
This will load a pop up window showing your running balances, debit and credit amounts. You can then use this column to compare with 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.
Overlapping Periods (file imports only)
If your entry method is file imports, 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 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 using the same method.
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 our Enter Transactions support article.