Bank Reconciliation

Among the most important statistics available to your agency are your bank account balances. To make sure the numbers you rely on are correct, you likely reconcile the bank statement to your records each month. The Bank Reconciliation feature provides an automated means of tracking bank activity and allowing you to flag cleared transactions as reported by your bank. [* You also have the ability to enter interest and bank charge adjustments as part of the reconciliation process.]

Accessing an Existing Bank Reconciliation Statement

1. In the Bank Center, open the appropriate bank
2. In the Views menu, click Statements.
3. Locate the existing bank reconciliation. The Date link in the Statements list corresponds to the  Ending Statement Date.

4. Click the desired statement date link. The Bank Reconciliation form opens.

Creating a New Bank Reconciliation Statement

1. Open the Bank Center.
2. Find and open the bank account to be reconciled.
3. Select Actions > Bank > Bank Reconciliation. The Bank Reconciliation form opens.

If an unposted bank reconciliation already exists for this bank account, the following message appears. Click OK to close the message.

Only one open bank reconciliation statement is allowed for each bank.

Click any of the following sections to enter specific information about the account:

Bank Statement Information

Reconcile Bank Statement and GL Bank Account

Service Charge

Interest Earned

Open Items to Clear

Conversion Items

[* As of Version 23R2, the "Interest Earned" and "Service Charge" sections no long appear on the bank reconciliation statement. Instead, use the New Journal Entry button, located in the bank reconciliation statement, to enter any adjustments.