Feature Introduction
At the end of the month, you open your bank statement and start going through each line: is this payment from a customer for which invoice? is that one a fee, an internal transfer, or COD money returned from a platform? Then you open Excel and manually enter everything to match the books with the bank. It takes half a day, is prone to errors, and every time you're asked "where did this money come from," you break into a sweat.
That ends today. GTG CRM transforms your bank statement into a reconciliation workspace right within your accounting system: classify each transaction into the correct account, set one-time matching rules that work forever for auto-suggestions on similar lines, view reconciliation dashboards and reports, and enable optional auto-generation of balancing journal entries. Money ⇄ invoices ⇄ ledgers are closed into a loop.
Problems Businesses Face
| Old Method | Consequences |
|---|---|
| Manually checking bank statements and re-entering into Excel | Wastes hours each month, easy data entry errors, un-traceable |
| Not knowing which cash flow corresponds to which invoice | Unclear receivables, undetected under-payments/over-payments |
| Recording accounting entries separately from bank transactions | Discrepant data, difficult to explain during tax audits |
| Difficulty separating returned COD from platforms/couriers | Uncertainty about whether the full amount was received, complicated COD reconciliation |
GTG CRM consolidates everything into a single source of truth: each bank transaction is directly linked to an accounting account and (where applicable) an invoice, with balancing journal entries automatically generated.
Highlights
1. Classify Transactions into the Right Account
For each line on your statement, choose what it is: revenue, fee, internal transfer, cash-to-bank, COD, etc. The system links the transaction to the correct accounting account (GL account).
- Feature: transaction classification → corresponding accounting account.
- Benefit: every dollar in/out has a clear "address" in the books.
2. Reusable Matching Rules — Set Once, Match Automatically
Create rules based on description/partner/amount: similar transactions in the future will be automatically assigned the correct type. New rules are activated immediately for instant application.
- Feature: reusable matching rules.
- Benefit: less work each subsequent month — repetitive tasks are automated.
3. Rule-Based Matching Suggestions — You Just Need to Approve
The rules you've set will automatically suggest how to classify similar transactions — you just need to review and approve. The more you use it, the more situations your rule set will cover, and the faster reconciliation will be. You always have the final decision.
- Feature: transaction matching suggestions based on rules (you approve).
- Benefit: quickly process repetitive lines while maintaining full control.
ℹ️ Matching and suggestions using rules are free. Coming soon: an AI assistant to suggest explanations for completely new transactions.
4. Reconciliation Dashboard + Reports
Get an overview: how much has been matched, how much is outstanding, where are the discrepancies. Export reconciliation reports for records and explanations.
- Feature: reconciliation dashboard + reports.
- Benefit: see at a glance if the books match the bank.
5. Auto-Generate Balancing Journal Entries (Optional)
Enable the "post to ledger" option: classified transactions / transfers / cash-to-bank / COD automatically generate standard accounting balancing journal entries. Unlinking a transaction will reverse the entry.
- Feature: auto-generate journal entries from reconciled transactions.
- Benefit: reconciliation and posting become one task, not two — data is always consistent.
Benefits for Businesses
| Feature | Real Benefits for You |
|---|---|
| Classification + Matching Rules | Saves hours of manual statement reconciliation each month |
| Rule-Based Matching Suggestions | Quickly process repetitive lines, reduce errors |
| Reconciliation Dashboard + Reports | Close books faster, have records ready for tax audits |
| Auto-Generated Journal Entries | Ledger always matches bank, no discrepancies |
| COD Reconciliation | Know exactly if you've received all COD payments |
Who Is It For?
- Accountants / Chief Accountants who need to close books quickly and ensure bank reconciliation.
- Business Owners / Sole Proprietors using GTG CRM's accounting suite, who want to control cash flow.
- COD Sellers who need to reconcile COD payments from platforms/courier services.
- Small to Medium Businesses looking to reduce reliance on separate accounting software.
How to Get Started?
Go to the Accounting ▸ Bank Reconciliation section, upload your statement or connect your bank account, and start classifying. Need detailed steps? Refer to the User Guide: Bank Reconciliation on GTG CRM, and for a broader accounting picture, check out the article on Double-Entry Accounting Within CRM.
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