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 fee, an internal transfer, or COD money returned by the marketplace? Then you open Excel and manually enter data to match your books with the bank. It takes half a day, is prone to errors, and you sweat every time you're asked, "Where did this money come from?"
That ends today. GTG CRM turns your bank statement into a reconciliation space right within your accounting system: classify each transaction to the correct account, set up one-time rules for repeated use to auto-suggest for similar lines, view reconciliation dashboards and reports, and enable the option for automatic generation of balancing journal entries. Money ⇄ invoices ⇄ ledger are closed into a loop.
Problems Businesses Face
| Old Method | Consequences |
|---|---|
| Manual bank statement reconciliation, re-entering into Excel | Hours lost monthly, prone to input errors, un-traceable |
| Uncertainty about which payment corresponds to which invoice | Vague payables/receivables, undetected under/overpayments |
| Accounting entries separate from bank records | Discrepant figures, difficult to explain during tax audits |
| Difficulty in identifying COD payments returned by marketplaces/couriers | Uncertainty about whether the full amount was received, complicated COD reconciliation |
GTG CRM consolidates everything into a single data source: each bank transaction is directly linked to an accounting account and (when applicable) an invoice, automatically generating balancing entries.
Key Features
1. Classify Transactions to the Right Account
For each line on your statement, choose its nature: revenue, fees, internal transfers, cash-in-bank, COD, etc. The system links the transaction to the correct GL account.
- Feature: transaction classification → corresponding accounting account.
- Benefit: every penny in/out has a clear "address" in the books.
2. Reusable Matching Rules — Set Once, Match Automatically
Create rules based on descriptions/partners/amounts: similar future transactions will be automatically assigned the correct type. New rules become active immediately for instant application.
- Feature: reusable matching rule set.
- Benefit: less work each subsequent month — repetitive tasks are automated.
3. Rule-Based Matching Suggestions — You Just Need to Approve
Your established rules 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 say.
- Feature: transaction matching suggestions based on rules (you approve).
- Benefit: quickly process recurring lines while maintaining full control.
ℹ️ Matching and suggestions via rules are free. Coming soon: an AI assistant to propose explanations for entirely new transactions.
4. Reconciliation Dashboard + Reports
Get an overview: how much has been matched, how much is pending, where are the discrepancies. Export reconciliation reports for record-keeping and explanation.
- Feature: reconciliation dashboard + reports.
- Benefit: see at a glance whether your books match the bank.
5. Automatic Balancing Journal Entries (Optional)
Enable the "post to ledger" option: classified transactions / transfers / cash-in-bank / COD automatically generate standard accounting balancing entries. Unlinking a transaction reverses the entry.
- Feature: automatic journal entry creation from reconciled transactions.
- Benefit: reconciliation and ledger posting become one task, not two — figures are always consistent.
Benefits for Businesses
| Feature | Real Benefits for You |
|---|---|
| Classification + Matching Rules | Cut hours of manual statement reconciliation each month |
| Rule-Based Matching Suggestions | Quickly process recurring lines, reduce errors |
| Reconciliation Dashboard + Reports | Close books faster, ready with records for tax audits |
| Automatic Journal Entries | Ledger always matches bank, no discrepancies |
| COD Reconciliation | Know exactly if you've received the full amount for goods |
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, wanting to control cash flow.
- COD Sellers who need to reconcile COD payments returned by marketplaces/couriers.
- Small to Medium Businesses looking to reduce reliance on separate accounting software.
How to Get Started?
Navigate to the Accounting ▸ Bank Reconciliation section, upload your statement or connect your bank account, and start classifying. Need detailed steps? Refer to the article User Guide: Bank Reconciliation on GTG CRM, and check out the article Dual Accounting Within CRM to understand the overall accounting picture.
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