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Reconciliations

Clear transactions during bank account reconciliation

During bank account reconciliation, if you import transactions from a bank statement that you download from your financial institution, the application automatically matches the imported transactions against those entered and clears them. If the application wasn't able to clear some of the imported transactions, or if you aren't importing transactions from a downloaded bank statement file, you can manually match and clear the transactions against the transactions listed in your printed or online bank statement.
  1. Select
    Actions
     then
    Reconcile Bank Accounts
    .
  2. Select the account to reconcile from the Reconciliations list.
  3. In the
    General Information
     tab, enter the applicable information from your bank statement.
  4. If applicable, select the
    Deposits & Additions
     tab and/or the
    Checks & Payments
     tab, and clear the applicable transactions.
    • To mark a transaction as cleared, mark the checkbox for the transaction row, or enter an amount in the Clear For column.
    • To mark all transactions as cleared in 1 step, select
      Edit
       then
      Clear All
      .
    • To clear a transaction for an amount other than the full amount, enter the amount in the Clear For column. The application displays the difference in the Adjustment column. You can then enter the GL account the difference should be applied to and an explanation in the Adjustment Description column.
  5. If applicable, select the
    Direct Deposit
     tab. The grid displays each direct deposit file that has been created for the reconciliation period. To view the direct deposit transactions included in the file, select
    +
     next to the file name to expand the list.
  6. Select the
    Account Summary
     tab to review the information.
  7. If necessary, complete the additional steps to finalize the bank account reconciliation.

This article applies to:

  • PRODUCT: Accounting CS Client Access