Bank Rec Matching Many Statement lines to One Ledger Entry

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Posted on by Matt10

My company has an online payment portal similar to Bill.com that deposits to our bank account daily. At the end of the month I make a single journal entry to book the lump sum of all of those payments rather than making an entry for each individual day.

So for example if I receive 30 deposits of $100 I would book a single journal entry for $3000 instead of 30 different entries. This is an issue on the bank recs because I can not seem to match all of the individual Bank Statement lines to a single Ledger Entry. Is this possible to do and if not what would the best solution be?

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Nitin Verma 21,091 Super User 2024 Season 1 on at

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RE: Bank Rec Matching Many Statement lines to One Ledger Entry

Hi,

As I know we dont have Many-to-One matching available in Bank account reconciliation, In that case I think you have to post 30 different entries, so that you can match your Bank account ledger entry individually with your bank statement entry.

Thanks.