How to use the Reconciliation Report on Kwara Core

Overview

The Reconciliation feature in Kwara Core is available under Accounting Reports and helps SACCOs review and reconcile financial transactions recorded in the system.

The feature has two components:

• Internal Reconciliation – helps identify the net amounts for different transactions within a specific General Ledger (GL).

• External Reconciliation – helps match the balance of a specific GL in Kwara Core against an external statement or report.
  
  

1. Access and Permissions

To access the Reconciliation feature, the user must have the View Reconciliation Statement permission enabled under Accounting permissions.

If the Reconciliation option is not visible or you are unable to generate a reconciliation statement, contact your SACCO administrator or Super User to review your assigned permissions.

2. Access Reconciliation

Once the required permission has been enabled:

1. Navigate to Accounting Reports.

2. Select Reconciliation.

The Reconciliation landing page provides access to both Internal Reconciliation and External Reconciliation.

3. Internal Reconciliation

Internal Reconciliation helps the SACCO identify and review the net amounts for transactions recorded within a particular GL over a specified period.

This can be useful when reviewing the movement of transactions within a GL and confirming the net financial activity for a selected period.

How to Generate an Internal Reconciliation

1. On the Reconciliation landing page, click the green Generate button.

2. Select Internal reconciliation.

3. Select the relevant Internal GL.

4. Select the required Date Range.

5. Review the selected information.

6. Click Submit.

Kwara Core will generate the internal reconciliation based on the selected GL and date range.

4. External Reconciliation

External Reconciliation helps the SACCO compare the balance recorded in a specific GL in Kwara Core against an external statement or report.

This can be useful when reconciling Kwara Core records against information from an external source, such as a bank statement or another financial report.

For an external reconciliation, you will need:

• The relevant GL in Kwara Core.

• The required date range.

• The external report or statement.

• The external opening balance.

External Report Format

The external report can be provided in either of the following ways:

• Use the provided Excel template and enter the external report information into the required format.

• Upload the external report as is, where the report is already in a supported format.

How to Generate an External Reconciliation

1. On the Reconciliation landing page, click the green Generate button.

2. Select External reconciliation.

3. Select the relevant GL.

4. Select the required date range.

5. Upload the external report or use the provided Excel template.

6. Enter the external opening balance.

7. Review the reconciliation details.

8. Click Submit.

Kwara Core will generate the external reconciliation by comparing the selected GL information against the uploaded external report.

5. Download Reconciliation Results

Once the reconciliation has been generated, the results will be available on the Reconciliation landing page.

From the landing page, you can download the generated reconciliation results for review, reporting or record keeping.

Recommended Workflow

Internal: Select Internal Reconciliation → Select GL → Select Date Range → Submit → Generate Results → Download.

External: Select External Reconciliation → Select GL → Select Date Range → Upload External Report → Enter External Opening Balance → Submit → Generate Results → Download.