Cash Reconciliation
Cash reconciliation (cierres de caja) lets you reconcile funding received (fondeos) against actual spending (invoices) for a defined period, giving you a clear picture of your asset’s financial balance.
What Is Cash Reconciliation?
A reconciliation period compares two sides:
- Inflows — Total fondeos (funding transfers) received during the period
- Outflows — Total invoices (expenses) paid during the period
- Balance — The difference: fondeos minus expenses
This tells you whether the asset has surplus funds, is on budget, or has overspent relative to the funding provided.
Reconciliation Workflow
Each reconciliation follows a three-stage workflow:
| Stage | Name | Description |
|---|---|---|
| 1 | BORRADOR (Draft) | Initial creation. Data is being gathered and reviewed. |
| 2 | REVISADO (Reviewed) | An accountant or manager has reviewed the numbers. |
| 3 | CERRADO (Closed) | Period is finalized. Serves as the official record. |
Corrections are possible. A closed reconciliation can be reopened back to Draft status if corrections are needed. The system tracks who closed it, who reopened it, and when.
Creating a Reconciliation
Navigate to Cierres de Caja
Go to Reports > Analytics > Finanzas tab > Cierres de Caja sub-tab.
Create New Period
Click “New Reconciliation” and set:
- Start Date — Beginning of the reconciliation period
- End Date — End of the reconciliation period
- Asset — The asset being reconciled (uses current asset selection)
Review Auto-Computed Totals
The system automatically calculates:
- Total Fondeos — Sum of all fondeos within the date range
- Total Gastos — Sum of all invoices within the date range
- Balance — Fondeos minus gastos
Review Spending Line Breakdown
Within the period, expenses are broken down by spending line (cost center). This shows you not just the total, but where the money went:
- Boat Operations: X EUR
- Refit: Y EUR
- Payroll: Z EUR
- etc.
Advance to Reviewed
Once you have verified the numbers match your bank statements and records, advance the status to REVISADO (Reviewed).
Close the Period
After final approval, advance to CERRADO (Closed). This locks the reconciliation as the official record for that period.
Reopening a Closed Reconciliation
If you discover an error after closing:
- Open the closed reconciliation
- Click “Reopen”
- The status returns to BORRADOR (Draft)
- Make corrections (add missing fondeos, fix invoice assignments, etc.)
- Advance through Reviewed and Closed again
Reopening is tracked. The audit trail records who reopened the reconciliation and when. Use this sparingly and document the reason in the notes.
Audit Trail
Every reconciliation maintains a complete audit trail:
- Created By — Who created the reconciliation period
- Created At — When it was created
- Closed By — Who finalized the reconciliation
- Closed At — When it was closed
- Status History — All state transitions with timestamps
This audit trail ensures accountability and is available for internal or external audits.
What Gets Included
Fondeos (Inflows)
All confirmed fondeos for the selected asset where the transfer date falls within the reconciliation period’s start and end dates.
Invoices (Outflows)
All invoices for the selected asset where the invoice date falls within the reconciliation period. The system uses invoice amounts (including tax) for the calculation.
Spending Line Breakdown
Each invoice’s spending line assignment is used to categorize outflows. Invoices without a spending line appear under “Unassigned.”
Best Practices
- Reconcile monthly — Do not let periods accumulate. Monthly reconciliation catches issues early.
- Match with bank statements — Compare the total fondeos with actual bank transfers to verify completeness.
- Assign spending lines first — Before creating a reconciliation, ensure invoices in the period have spending lines assigned for a meaningful breakdown.
- Close promptly — Once verified, close the reconciliation to establish the official record. This prevents accidental modifications.
- Use notes — Add notes to each reconciliation explaining any discrepancies or unusual items.
Related Pages:
- Funding Transfers — Record cash transfers to asset accounts
- Spending Lines — Categorize expenses by cost center
- Invoice Upload & OCR — Track the expense side
- Budget Management — Plan and monitor budgets