Feature Introduction
At the end of the month, you open your bank statement and start scrutinizing each line: which invoice does this payment from a customer correspond to? Is that a fee, an internal transfer, or COD money returned by the marketplace? Then you open Excel and manually enter it to match your books with the bank. It takes half a day, is prone to errors, and you break into a cold sweat every time someone asks, "Where did this money come from?"
That ends today. GTG CRM transforms your bank statement into a reconciliation space right within the accounting system you're using: classify each transaction into the correct account, set up one-time rules for permanent reuse to auto-suggest for similar lines, view reconciliation dashboards and reports, and enable the option to auto-generate balancing journal entries. Money ⇄ invoices ⇄ ledgers are closed into one loop.
Problems Businesses Face
| Old Method | Consequences |
|---|---|
| Manually reviewing bank statements and re-entering data into Excel | Hours lost each month, easy data entry errors, inability to trace back |
| Not knowing which payment line corresponds to which invoice | Ambiguous outstanding balances, undetected underpayments/overpayments |
| Recording accounting entries separately from bank transactions | Discrepant data, difficult to explain during tax audits |
| Difficulty in separating COD payments returned by marketplaces/shipping companies | Uncertainty about whether full payment was received, complicated COD reconciliation |
GTG CRM consolidates everything into a single data source: each bank transaction is directly linked to the accounting account and (where applicable) the invoice, automatically generating balancing entries.
Highlights
1. Categorize Transactions into the Correct Account
For each line on your bank statement, decide 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: categorize transactions → corresponding accounting accounts.
- 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 future transactions will be automatically assigned the correct type. New rules become active immediately for instant application.
- Feature: reusable set of matching rules.
- Benefit: easier months ahead — 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 covers, and the faster reconciliation becomes. You always have the final decision.
- Feature: suggest transaction matching based on rules (you approve).
- Benefit: quickly process recurring 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 your records and for explanations.
- Feature: reconciliation dashboard + reports.
- Benefit: see at a glance whether your books match the bank.
5. Auto-Journal Entry for Balancing (Optional)
Enable the "record to ledger" option: classified transactions / transfers / cash-to-bank / COD will automatically generate standard accounting balancing journal entries. Unlinking a transaction reverses the entry.
- Feature: auto-generate journal entries from reconciled transactions.
- Benefit: reconciliation and ledger entries are one process, not two — data is always consistent.
Benefits for Businesses
| Feature | Actual Benefit for You |
|---|---|
| Categorization + Matching Rules | Save hours of manual bank statement reconciliation each month |
| Rule-Based Matching Suggestions | Quickly process recurring lines, reduce errors |
| Reconciliation Dashboard + Reports | Close books faster, have documentation ready for tax audits |
| Auto-Journal Entry | Ledger always matches the bank, no discrepancies |
| COD Reconciliation | Know precisely if you've received full payment for goods |
Who Is It For?
- Accountants / Chief Accountants who need to close books quickly and ensure bank reconciliation.
- Business Owners / Sole Proprietors using the GTG CRM accounting module who want to control cash flow.
- COD Sellers who need to reconcile COD payments returned by marketplaces/shipping companies.
- Small to Medium Businesses who want 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? Read the User Guide: Bank Reconciliation on GTG CRM, and refer to the Double-Entry Accounting Within CRM article for an overall accounting picture.
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