Create a New Bank Reconciliation

Overview

The New button on the Bank Reconciliation list view should be used to create a new reconciliation that has never been previously created using a selected combination of GL Account, GL Account Variables, Currency, Ledger, and/or Type. If the selected combination has been previously created on a Bank Reconciliation, you can save time with pre-populated fields by using the Create the Next Bank Reconciliation screen.

Note: If you want to create more than one Bank Reconciliation at the same time, use the Salesforce Data Loader App (web-based Data Import Wizard tool) or a script.

When creating one or more Bank Reconciliations, the automatic clearing of records on the saved Bank Reconciliations will depend upon the Disable Auto-Clear job setting in the Enablements screen. When this setting is turned “On,” records on the saved Bank Reconciliations will not be automatically cleared. When this setting is turned “Off,” if multiple Bank Reconciliations were imported/created and saved at the same time, records on the first saved one will automatically be cleared. On the remaining Bank Reconciliations that were imported/created at the same time, the records will need to be manually cleared. The default for this setting is “Off.”

Create a New Bank Reconciliation

1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Banking menu, click Bank Reconciliations.
2. Click New. The New Bank Reconciliation dialog box displays. 
3. Complete the required fields, which display with a red asterisk (*).
   1. Bank/Credit Card Account - identifies the bank or credit card account that will be reconciled. Only the source records that are associated with this bank or credit account will be included with this New Bank Reconciliation.
   2. Statement Ending Date -  represents the end date for the statement per the Financial Institution or the date as of which records are being reconciled as part of this reconciliation. All records that have been uncleared (that have been posted) will be considered for this Bank Reconciliation. Click the Calendar icon to select a date. Otherwise, enter the end date.
   3. Statement Ending Balance - represents the ending balance for the bank account or credit card per the statement from the Financial Institution.
   4. Type - click the drop-down list to select Bank or Credit Card.
      Note: Charges/Amounts will display on the Bank Reconciliation screen based upon the Type selection of Bank or Credit Card.
      
      
      
      
4. (Optional) Complete additional fields.
   1. Ledger - identifies the Ledger that is associated with the bank or credit card.
   2. Currency - this field will only display if multi-currency is enabled.
   3. GL Variables 1-4 - the Sub-General Ledger account segment(s) used to report on divisions, departments, geographies, cost centers, profit centers or business units.
      Note: If you use GL Variables on the reconciliation, note that only source records which have the same GL Variable values can be cleared on the Bank Reconciliation.  For example, GL Variable 1 might be for your East branch office and you only want to include source records from that location. Using this example, if you entered “East” in the GL Variable 1 field on the Bank Reconciliation, any source records that include this same GL Variable 1 will be included on the Bank Reconciliation, based upon the Statement Ending Date.
      
   4. Beginning Balance - if this field is left blank, the Beginning Balance will default to $0 when the new Bank Reconciliation is created. If you want to include a Beginning Balance, select the Override Beginning Balance checkbox and then, manually enter a Beginning Balance.
5. Click Save. The Bank Reconciliation screen displays.
   Note: Up to 8000 records can be saved on a Bank Reconciliation. When you click Save, if more than 8000 records are included, a message displays. You will need to adjust the Statement Ending Date to include less records to fall below the 8000 limit.
   
   Note: The status of the Bank Reconciliation might display momentarily as "Working" while the background processes preparing the reconciliation complete. 
   
   
   Note: Click here to view the above image in full screen. 
   

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Winter '25 Preview 1 Release

Release Notes and Schedule

When creating one or more Bank Reconciliations, the automatic clearing of records on the saved Bank Reconciliations will depend upon the Disable Auto-Clear job setting in the Enablements screen.