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Bank Reconciliation

The Bank Reconciliation is used to reconcile the balance of any bank account to your bank statement. This Module step has the capability of supporting any account that you have setup and are using as a checking or savings account.

The bank reconciliation Module step only allows one unfinished reconciliation in the system at a time. If you start a reconciliation, you must finish it before you begin another one even if it is for a different account. Keep this in mind if you have multiple checking accounts.

The Bank Reconciliation Setup form will be displayed.

Select the bank general ledger account number you want to reconcile and then enter the beginning and ending balances from the bank statement. After the information has been entered press [OK] to go to the Bank Reconciliation form.

Once the form is open you may begin to check off the transactions that have cleared the bank. Each time an item is checked, the Cleared Balance amount changes to reflect the adjustment.

The Cleared Balance equals the beginning balance you entered on the setup form plus the deposits and or debits you have cleared less the credits you have cleared less the checks you have cleared. The Bank Ending Balance is the ending balance you entered on the Setup Form. The Difference amount equals the Cleared Balance less the Ending Balance.

To exit choose either the [Save] button or the [Close Window] button 

If the bank reconciliation is in balance you will be asked if you would like to save the statement. If your reconciliation is out of balance, you will be asked if you would like to save the statement. If you answer yes, the reconciliation will be saved and you may open the form later to continue the reconciliation.

Note: If you made a mistake on the setup form by entering a wrong amount or date, simply save your work and open the form again. The system will allow you to correct the information on the setup form.

For step-by-step instructions, see the Common Cash Management Transactions section.