Bank Reconciliation

End of Period Bank Balance

The End of Period Bank Balance figure is the ending balance from your Bank Statement. The system uses this figure on the report and to check to see if you are in balance.

The system starts with a G/L Balance, which should match last months Ending Bank Balance. It then adds in the checks and deposits that you have marked as cleared. The ending figure should match the End of Period figure you typed in, if not the report will say its out of balance.

Note: It will not change unless you type in a new figure. So if you when back to a pervious period the figure would not change. Which shouldn't be a concern unless you are trying to run Reconciliation Report for that month. Then you would have to reenter figure for that month.

Adjustments

Adjustments are any General Ledger entries posted to the Bank Account which do not use the Journal Codes assigned to the Cash Account.

Carry Forward

  1. If you want to know where a check came from, just make sure it is unchecked and click on the View or Print Worksheet button. The check will be marked either GL or CF.


  2. Entring Carry Forward Balances

    Client Write-Up

    1. Click on Transactions -> Bank Reconciliation -> Edit Carry Forwards
    2. Select the desired Journal Code (ie: CD1, CR1, etc)
    3. Enter the Check Number*
    4. Enter the Amount
    5. Enter a Description if desired.
    6. Enter the Date the check was written or the deposit was made.
    7. Click OK to record the transaction.

    Note: Do not click on Create New Carry Forward Records. This option is used only if you have been using the system for a while. This option erases all Carry Forward Entries and creates new ones based on actual entries entered into the system (ie: Payroll & Vendors Checks and Deposits)

    * Note: On deposit entries just enter a number. (ie: (1) for first deposit, (2) for the second deposit, etc)

    Computer Check Book

    1. Click on Setup -> Bank Recon -> Edit Carry Forwards
    2. Select the desired Journal Code (ie: CD1, CR1, etc)
    3. Enter the Check Number**
    4. Enter the Amount
    5. Enter a Description if desired.
    6. Enter the Date the check was written or the deposit was made.
    7. Click OK to record the transaction.

    Note: Do not click on Create New Carry Forward Records. This option is used only if you have been using the system for a while. This option erases all Carry Forward Entries and creates new ones based on actual entries entered into the system (ie: Payroll & Vendors Checks and Deposits)

    ** Note: On deposit entries just enter a number. (ie: (1) for first deposit, (2) for the second deposit, etc)

  3. Carry Forward transactions are not showing up on Bank Reconciliation Screen.

    1. Backup one Reporting Period and then come back to the current period. This will regenerate the Carry Forward entries.

    2. Regenerate the entries:

      1. Roll back to previous month.
      2. Bring up Bank Reconciliation.
      3. Select Journal Code
      4. Unselect and Re-Select a previously cleared item.
      5. Click on [View & Print Worksheet].
      6. Check the Update Carry Forward to Match Worksheet checkbox and click [OK].
      7. Close the Report Screen and Bank Reconciliation.
      8. Roll forward into the month to reconcile.

    3. Old Way to manually generate the enties:

      Client Write-Up

      1. Click on Transactions -> Bank Reconciliation -> Edit Carry Forwards
      2. Click on Create New Carry Forward Records
      3. Select the desired Journal Code (ie: CD - Checks, CR - Deposits)
      4. Select the desired Date Range (The default is last period)
      5. Click OK to create the records
      6. If you need to create entries for another Journal Code click on Create New Carry Forward Records else click Close

      Computer Checkbook

      1. Click on Setup -> Bank Recon -> Edit Carry Forwards
      2. Click on Create New Carry Forward Records
      3. Select the desired Journal Code (ie: CD - Checks, CR - Deposits)
      4. Select the desired Date Range (The default is last period)
      5. Click OK to create the records
      6. If you need to create entries for another Journal Code click on Create New Carry Forward Records else click Close

Bank Reconciliation Worksheet

  1. Figures:

    1. General Ledger: This section deals strictly with the actual ledger transactions in the system. It shows you the ending balance for last period/beginning account balance for this period, plus any transactions for the period and the ending balance for the period. The beginning and ending figure having nothing to do with the actual Bank Reconciliation.

    2. Ending Bank Statement Balance: This is the figure you typed in the End of Period Bank Balance Field on the Bank Reconciliation Screen.

  2. Outstanding Checks: