Skip to main content

Reconcile a Payment Account Statement

How to Reconcile a Payment Account Statement in Muhasib ERP

Overview

This guide will help you compare and confirm a Muhasib cash, bank, wallet, or other payment account to an external statement or physical control.

The account has an explained balance and a documented list of unresolved timing items.

Who can do this

You need access to Payment-account report access and authorized account scope; correction rights are separate.

Before you start

Have the external statement or count, opening balance, exact cutoff, prior checking, and list of known timing items.

Before saving, check that the correct company is open and that you have permission to complete this task.

Where to find it

Back Office → Muhasib Financials → Payment Account Statement Report.

Reconcile a Payment Account Statement

Step 1: Select the exact account and statement date range

Step 2: Confirm opening balance against the prior close

Step 3: Match receipts, payments, transfers, fees, and reversals by date, amount,

Match receipts, payments, transfers, fees, and reversals by date, amount, and reference.

Step 4: Identify outstanding, duplicate, omitted, or wrongly classified items

Step 5: Correct source transactions through their originating workflow

Step 6: Document legitimate timing differences

Step 7: Confirm the adjusted closing balance

Check your work

Muhasib closing balance plus/minus documented reconciling items equals the external statement or physical balance.

Take a moment to check your work before closing the window. This small check can save time later.

If something goes wrong

  • Confirm report date semantics and opening balance before investigating lines.
  • Do not post unexplained journals merely to force agreement.

What to do next

Back to top