Accounting practice requires you to reconcile your bank statement with payments in and out of the account, and to post those in the general ledger.

You reconcile your statement lines by allocating to customer and supplier payments. When you have fully allocated the amounts on the statement, you register the statement by saving the banking entry. When allocated statement lines are saved, the system generates GL postings and updates the appropriate sub-ledgers. Each bank statement line is assigned its own posting number.

Once posted, statement lines receive the status Allocated and Posted.