Page History: Bank Reconciliation
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Page Revision: Wed, 23 Feb 2011 10:47
Default Menu Location
Maintain >> Accounts Payable >> Bank Rec
Click here for a screenshotGeneral Info
The Bank Reconciliation screen provides an interface to reconcile Adjutant AP and AR transactions to your bank's current balance.
The Bank Rec screen may also be used to enter Manual Cash Adjustments.
Filters
The
Filters tab of the Bank Rec screen controls what is displayed on the Checks/Deposits/Adjustments tab.
The user may select a Checking Account, Date Range, and Status. Leaving the Date Range blank will return all records for the selected checking account and status.
The
Group By Deposit Code/Date option is checked by default. Unchecking this option will display a Cash Receipt record for every invoice, instead of grouping them together by Deposit# or Date (if Deposit# is left blank on the Cash Receipt screen).
Clicking the Refresh button will switch you to the next tab.
Checks/Deposits/Adjustments
The
Checks/Deposits/Adjustments tab displays AP Checks, Cash Receipts, and Manual Adjustments.
Checks are highlighted in Yellow. Cash Receipts are highlighted in light blue. Adjustments are highlighted in gray.
The Bank Balance is equal to the current bank balance as previously reconciled in this screen.
The Book Balance is equal to the Bank Balance plus any Outstanding checks, cash receipts, and manual adjustments.
It is important to note that the Book Balance will always include ALL OUTSTANDING checks, cash receipts, and manual adjustments, not just what is displayed in this tab. The Variance is the difference between the two.
The Bank Balance and Variance numbers will update themselves as you check the Clear (Clr) box to mark certain records as having cleared the bank.
Clicking the Update button will save your changes and update the current Bank Balance.
The Clearing Date (ClrDate) column in the grid will be updated when you mark a record as cleared.
Enter Manual Adjustments
The
Enter Manual Adjustments tab allows you to enter manual cash adjustments.
The Adjustment# will be displayed in the first column on the Checks/Deposits/Adjustments tab.
Make sure to enter a negative sign before your amount if you are entering a negative adjustment.To enter a cash transfer from one checking account to another.
1. Select the account the money was transfered to on the Filters Tab.
2. Select the Enter Manual Adjustment Tab.
3. Enter the adjustment number, the date, the amount (positive value, this the account the money was added to), and any notes.
4. Check the Cash Transfer Check box, which will also check the Post To GL checkbox and enable the Offset Account Field.
5. Enter the other checking account in the Offset GL Acct field. (the checking account the money is coming from)
6. Click on Save.
FAQ
Q: Can you "un-clear" a record? I accidentally marked one record as cleared when it really wasn't.
A: Yes, select Cleared or All in the Status section of the Filters tab and then hit the Refresh button. Uncheck the Clr box in the grid and click Update.
