Account Reconciliation
Open the GL Account Reconciliation screen by clicking on General Ledger, then Account Reconciliation.
Choose the G/L Account ID by clicking on the field, selecting an account and clicking OK.
The GL Account Description is automatically displayed based on the GL Account chosen.
Enter a Statement Date by either typing in the date or clicking on the calendar button, choosing a date and clicking OK.
The program goes through all the transactions for the chosen GL Account.
If the transaction is associated with this particular record, the transaction is listed in the table.
If the date on the transaction is on or before the Statement Date and the transaction is not being used in another reconciliation record, the transaction is listed in the table.
If the check has been previously cleared, then the transaction will be listed with the Cleared box checked. Otherwise the box is not checked.
The fields Check or Deposit, Date, Payee, Deposit and Payment are populated with data depending upon the screen used to input the transaction.
Transaction screens used:
- AP Invoice Entry
- AP Payment
- AR Invoicing
- AR Receipts
- GL Journal Entry
- AP Download
- PR Process Payroll
Choose the Reconciliation Code. If the transaction is a Deposit, the default value of Reconciliation Code is DEP. If the transaction is a Payment, the default value of Reconciliation Code is CHK. See GL Chart of Accounts Default Setup for more information.
Check the Cleared Box if the transaction shows up as being cleared on the statement.
From the statement, enter the following information:
- Enter the beginning balance in the Beginning Balance field
- Enter the total amount of cleared deposits and credits in the Cleared Deposits/Credit field
- Enter the interest in the Interest Credited field
- Enter the total amount of cleared checks and debits in the Cleared Checks/Debits field
- Enter the total amount of bank charges in the Bank Charges field
The remaining fields will display data calculated from the information from the transactions and the data entered.
Reconciliation can be interrupted at any stage of the process.
Click OK and the system will keep the information already entered. The Reconciliation record can be pulled back up and edited at any time by entering in the GL Account ID and Statement Date.
