What is a Deposit and GL Reconciliation Report for Banks?

Reconciliation Reports are considered data control tools and are used by accountants to help ensure that loan-related transactions tie to the General Ledger. Some of the main functionality in this type of report is that it for any given GL account chosen by the user will list and match with the related deposit transactions. In the columns display months up to the current period to make it easy to track historical balances. You find an example of this type of report below.

Purpose of Deposit and GL Reconciliation Reports

Banks use Deposit and GL Reconciliation Reports to automate and speed up the monthly close process and to ensure that data from deposit transactions match with the related GL postings. When used as part of good business practices in Accounting departments, a bank can improve its accounting staff efficiency, and it can reduce the chances that mistakes carry through to financial reports.

Example of a Deposit and GL Reconciliation Report

Here is an example of a Deposit and GL Reconciliation Report with user-defined parameters for Entity and Account.

Example of a Deposit and GL Reconciliation Report for Banks

Example of a Deposit and GL Reconciliation Report for Banks

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Controllers and Accountants.

Other Reports Often Used in Conjunction with Deposit and GL Reconciliation Reports

Progressive Accounting departments sometimes use several different Deposit and GL Reconciliation Reports, along with detailed deposit reports, profit & loss reports, balance sheets, cash flow statements and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from deposit management systems for retail banks and enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples