| Completing the accounting cycle, is the Bank Reconciliation
(BR) module. Using data entered in the other modules, along with
banking fees, interest, and adjusting entries entered directly, the BR
module ensures that the computer-generated balance matches that shown on
provided bank statements. |
|
Overview of the Reconciliation Process
 | To begin, click "Reconcile Bank Statements" to bring up the reconciliation
screen. Then enter the statement date, banking fees, and interest. |
| Bring up the "Reconcile Deposits" screen and select the deposits showing
on your statement. If others exist that have not been entered, you could
enter them as adjustments, or multi-task to AR and enter them there. When you
return to the BR module, they will automatically show, ready to be reconciled! |
| Similarly, you should bring up the "Reconcile Withdrawals" screen to
identify the withdrawals. As with deposits, if some exist that have not been
entered, you could enter them as adjustments, or multi-task to AP! |
| When all is complete, check the ending balance against the statement and
click, "Save". It's that easy! |
Other Noteworthy Features
| A "Stopped/Dead Check" screen allows you to enter checks that have been
stopped, or have become un-cashable. Appropriate journal entries are
automatically created reversing the check amounts, and marking the original
entries as un-payable. |
| From a "GL Reconciliation" step, the reconciled bank balances may be
compared to your GL balances -- automatically adjusting for un-cashed checks
and un-reconciled deposits. If discrepancies are found, the program can
automatically create adjusting entries to ensure the amounts balance. |
Summary of Reports
| Summary and Detail Statement Reports |
| GL Reconciliation Report |
| Un-Cashed Checks Report |
 
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