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Reconciliations

Use the
General Information
tab on the
Reconcile Bank Accounts
 screen

Show all hidden content
To access the tab, select
Actions
Reconcile Bank Accounts
General Information
.
On this tab, you can view or enter the following information from the client’s bank statement:
  • Account to reconcile
  • Statement beginning/ending dates
  • Beginning balance
  • Deposits and additions
  • Checks and payments
  • Ending balance
note
  • The Reconciliations list includes all current, finalized, and pending reconciliations (indicated by status icons).
  • You can use the filter and search to find a specific reconciliation.
  • Bank accounts need to have a GL account assigned before you can do a reconciliation.

Fields on the tab

Account to reconcile
Lists the bank name of the selected statement from the Reconciliations list. The application displays the current reconciliation status next to the field. You can right-click to access the context menu and choose a command.
note
A right-click context menu is available in several screens throughout the application. In general, commands on the right-click context menu are also available on the
Edit
 menu.
Statement information
Before you can reconcile this account, you'll need to enter the following information, which you can find on the bank statement for this account:
  • Statement beginning/ending date
    : These fields are required. The dates you enter in these fields will depend on the reconciliation frequency specified in the
    Options
     screen. (The default frequency is monthly.) Once you've selected a statement beginning and ending date, the application will automatically populate these fields for subsequent reconciliations based on the selected frequency. You'll get an error message if the beginning or ending dates are within a prior reconciliation.
  • Beginning balance
    : This field contains the ending balance of the prior reconciliation (or will be zero if this is the 1st reconciliation). You can modify the amount in this field as necessary.
  • Deposits & additions
    : Enter the total of all deposits and additions on the bank statement for the period being reconciled.
  • Checks & payments
    : Enter the total of all checks and payments on the bank statement for the period being reconciled.
  • Ending balance
    : The application calculates this amount by adding the amount in the
    Deposits & additions
     field to the amount in the
    Beginning balance
     field and then subtracting the amount in the
    Checks & payments
     field.

This article applies to:

  • PRODUCT: Accounting CS
  • Subject: Bank reconciliation

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