Create the Next Bank Reconciliation

Overview

Create Next allows you to streamline your Bank Reconciliation process. This provides a quick and easy way to create the next Bank Reconciliation in a series by clicking the “Create Next” button directly from the Bank Reconciliation screen. This is a good process to follow when you need to create multiple Bank Reconciliations.

If this is the first time that you are creating a Bank Reconciliation for the selected combination of GL Account, GL Account Variables, Currency, Ledger, and/or Type, you might want to use the Create a New Bank Reconciliation screen.

The Create Next Bank Reconciliation screen automatically pre-populates with information such as the following: 

• Bank/Credit Card Account
• Ledger - displays the Ledger that is associated with the Bank/Credit Card Account
• Currency - this field will only display if multi-currency is enabled
• Beginning Balance - this field automatically populates with the Statement Ending Balance of the prior reconciliation upon creation or when the status is changed to Completed. If the Override Beginning Balance checkbox is selected, the Beginning Balance can be manually entered.
• Additional Information:
• GL Variables 1-4
• Type

Typically, only the Statement End Date and the Statement Ending Balance need to be completed in order to save this next Bank Reconciliation and move to another one. 
Note: The next Bank Reconciliation can be created from one that is in an "In Progress" or a "Completed" status. 

Create the Next Bank Reconciliation

1. From the Bank Reconciliation screen click Create Next. The Create Next Bank Reconciliation screen displays. 
   
   
   Note: Click here to view the above image in full screen. 
   
   
2. Click the Calendar icon and select a Statement Ending Date.
   Note: This represents the end date for the statement per the Financial Institution. 
3. (Optional) Click the Override Beginning Balance checkbox if you want to override the displayed Beginning Balance and enter it manually. 
4. Enter the Statement Ending Balance.
   Note: This represents the ending balance for the bank account or credit card per the statement from the Financial Institution.
   
   
   Note: Click here to view the above image in full screen. 
   
   
5. Click Save. The Bank Reconciliation screen displays.
   Note: Only 8000 records can be included 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.