Perform a Bank Reconciliation

Overview

A Bank Reconciliation provides a way to explain the differences between the cash or credit card balance in your Ledger and the bank statement balance. Performing a reconciliation is also a good way to help prevent embezzlement and fraud. The Bank Reconciliation tool  in Accounting Seed is used to verify that all transactions in your bank or credit card account are recorded in the General Ledger as Bank Deposits, Bank Disbursements, Cash Receipts, Cash Disbursements, and/or Journal Entry Lines. In order to perform this exercise, the Statement Ending Date from your bank statement is required. 

Bank Reconciliation Record Limits

Up to 100 records per page can display on a Bank Reconciliation and a total of up to 8000 records can be included in a single Bank Reconciliation. When you create a new or next Bank Reconciliation, the system checks to determine if more than 8000 records will be included. Therefore, you cannot save a new Bank Reconciliation with more than 8000 records. However, once a new Bank Reconciliation has been saved, it is possible to have additional uncleared source records added to it while the reconciliation is in an “In Progress” status. If this occurs, a message will display on the Bank Reconciliation screen to indicate that more than 8000 records exist. The message will include the total potential reconcilable records. To view a complete listing of all the records that are included in a Bank Reconciliation, you can create a CSV file. If more than 8000 records are included in the Bank Reconciliation, you will need to delete it and create another one with an adjusted Statement Ending Date that falls under the 8000 limit (include less records). The information from the CSV file might help you to determine how to adjust the Statement Ending Date.

Note: The 8000 limit includes records that have been cleared and records that still need to be cleared.  


Note: Click here to view the above image in full screen. 

Related Cash Ledger JEL associated with Bank Deposit/Bank Disbursement

Note: This is only applicable if you are using Multi-book Accounting.

If you have Journal Entry Lines (JELs) that were only posted to a Related Cash Ledger, which display on a Bank Deposit or Bank Disbursement, and subsequently, on a Bank Reconciliation, unassociate the JELs from the Bank Deposit or Bank Disbursement.

Note: This issue will be corrected in a future release.

Click a link below to learn more about the following:

• Bank Reconciliation Header
• Bank Reconciliation Calculation
• Bank Reconciliation Tabs
• Automatic Cleared and Saved (Committed) Records
• Clear Bank Dates
• Bank Reconciliation with Multi-Currency
• Edit the Bank Transaction Date
• Bank Reconciliation for an Archived Period
• Legacy Bank Reconciliations
• Perform a Bank Reconciliation
• Create a PDF Summary
• Create a CSV File

Bank Reconciliation Header

The header section of the Bank Reconciliation screen includes the following information:

Note: Click here to view the above image in full screen. 

• Bank/Credit Card Account - the Bank GL Account or the Credit Card GL Account. Only the source records that are associated with the selected GL Account will be included as part of this reconciliation.
  Note: If a Credit Card GL Account is selected (a liability account), the values/amounts on the data grid will display in reverse of a Bank GL Account number. For example, on a Credit Card GL Account number, Cash Disbursements will display as positive amounts and Cash Receipts will display as negative amounts.
• Statement Ending Date - the end date based upon the statement from your financial institution.
• Ledger - identifies the associated Ledger, such as Actual.
• Type - denotes the type of financial institution account that you are reconciling (Bank or Credit Card).
• Status - the initial status will always display as “In Progress,” which indicates that records can be cleared or uncleared. When a Bank Reconciliation is finalized and the Difference is zero (0.00) in the calculation section of the screen, the status can be “Set to Completed.” If you attempt to set the status to “Completed” on a Bank Reconciliation, but the “Difference” is an amount other than zero, a message displays that there is a difference between the Cleared Balance and the Statement Ending Balance. The status can only be “Set to Completed” when the Difference is zero ($0.00). Once the status is “Set to Completed,” if it becomes necessary to update records on the reconciliation, the status can be changed back to “In Progress.”
  
  Important: When changing the status of a Bank Reconciliation from “In Progress” to “Completed” and vice versa, similar to closing Accounting Periods, the current and the prior reconciliation must be taken into consideration. For example, if you attempted to “Set to Completed” on the current Bank Reconciliation when the prior one is still in an “In Progress” status, a message displays to indicate that the status cannot be changed because the prior reconciliation is “In Progress.” Additionally, when changing a Bank Reconciliation status, only related reconciliations need to be considered (reconciliations with the same Bank or Credit Card Account).
  
  Note: If you experience an issue with a Bank Reconciliation being stuck in "Working" Status, refer to the resolution for this issue in the Troubleshooting Guide. 
  
  
• Currency - this field only displays if multi-currency is enabled. It identities the currency of the Bank Reconciliation.

Return to top

Bank Reconciliation Calculation

In Progress Status

The Bank Reconciliation Calculation is the second section of the Reconciliation screen. When a Bank Reconciliation is in a status of “In Progress,” this section includes the amounts that reconcile the General Ledger Balance to the Statement Balance. 

If this is a Bank GL Account, the part of the calculation that displays for the General Ledger includes the following:

Beginning Balance + Cleared Deposits - Cleared Payments = Cleared Balance

If this is a Credit Card GL Account, the part of the calculation that displays for the GL includes the following:

Beginning Balance - Cleared Payments  + Cleared Charges = Cleared Balance

The part of the calculation for the Statement Balance includes the Statement Ending Balance (for Bank or Credit Card GL Account). If there is a difference between the Cleared Balance and the Statement Ending Balance, the amount displays in the Difference portion of the calculation with the Warning icon.  

Note: Click here to view the above image in full screen. 

The Bank Reconciliation Calculation section of the screen updates in real-time as you clear/unclear records on the Bank Reconciliation data grid. Once the Cleared Balance and the Statement Ending Balance are the same, a green checkmark displays to indicate that there is no longer a difference between the two amounts/balances. When the Difference is zero (0.00), the status of the Bank Reconciliation can be changed to Completed by clicking the “Set to Completed” button.



Note: A Bank Reconciliation status cannot be “Set to Completed” if the Difference is an amount other than zero (0.00).


Note: Click here to view the above image in full screen. 

Completed Status

Once the Bank Reconciliation status has been “Set to Completed,” the Bank Reconciliation Calculation changes to include the amounts that reconcile the Statement Balance to the GL Balance. The part of the calculation that displays for the Statement Balance (for Bank Account) includes the following:

Statement Ending Balance + UnCleared Deposits - UnCleared Payments = Calculated Balance


Note: Click here to view the above image in full screen. 

The part of the calculation that includes the GL Balance is the GL Ending Balance. If the GL Difference is zero (0.00), a green checkmark displays. If the GL Difference is an amount other than zero, the difference displays with the Warning icon. The Statement Balance to the GL Balance calculation is informational only and will not impede your ability to create the next Bank Reconciliation.

Bank Deposit Date Greater than Statement Ending Date

When a Bank Reconciliation has been “Set to Completed,” any Cash Receipts (CR) and Journal Entry Lines (JEL) associated with a Bank Deposit that has a Deposit Date that is greater than the Statement Ending Date (SED) and the CR Date or Journal Entry header date is less than or equal to the SED, the system will search for and sum those records to display as UnCleared Deposits. 

In the sample screen below, the Bank Deposit Date is 12/15/2021, but the dates on the records are from November.


Note: Click here to view the above image in full screen. 

Using this example, when the Bank Reconciliation with a Statement Ending Date of 12/7/2021 is “Set to Completed,” the records from this Bank Deposit are listed and summed as UnCleared Deposits.

Note: Click here to view the above image in full screen. 

Note: If you need to make adjustments to the Bank Reconciliation, click Set to In Progress and select Yes to set the status back to “In Progress.” Then, proceed to make adjustments, as necessary. 

On a Bank Reconciliation that is in a Completed status, the calculation for the GL Ending Balance is based upon the information in the table below.

A + B = GL Ending Balance

Bank Reconciliation Calculation - Pin icon

The Pin icon can be clicked to pin the Bank Reconciliation Calculation information to the top of the page as you scroll down the page. That way, you can continue to view the calculation changes in real time. This comes in very handy if you have a large number of records to clear/unclear on a reconciliation.

Note: Click here to view the above image in full screen. 

Return to top

Bank Reconciliation Tabs 

Reconciliation Tab and Data Grid 

The third section of the Bank Reconciliation screen is the data grid, which is available on the Reconciliation (default) tab. This functions as your workspace to perform tasks such as the following:

• Clear and/or unclear records
• Edit the Bank Transaction Date
• Filter criteria on the data grid 
• Review a source record or Payee information

Note: Click here to view the above image in full screen. 

The three hyperlinks below the Reconciliation tab include the following:
Note: These links only display when the status of a Bank Reconciliation is “In Progress.”

• Clear All/Unclear All - this functions as a toggle to either clear all records on the current Bank Reconciliation page or to unclear all records on the current page. Also, you can manually clear one record at a time.
  Note: Up to 100 records per page can display on a Bank Reconciliation and up to 100 records per page can be cleared or uncleared.
  
  Note: Records that are automatically cleared and saved upon the creation of a new/next Bank Reconciliation are not included as part of the up to 100 records per page that can be batch cleared/uncleared. For example, 50 records may have been automatically cleared and saved upon the creation of a new Bank Reconciliation. Using this example, up to 100 records per page could still be batch cleared.
  
  When you click Clear All or Unclear All, a message displays to confirm that you want to Clear All or Unclear All records on the selected page. Click Yes to proceed. Otherwise, click No. The sample screen below provides an example of the message that displays when you click Clear All.
  
  
  
  
• Filter - click this hyperlink to display a dialog to filter information on the data grid using the following criteria:
  • • Reference, Description, or Payee - the system will search for and return records that contain the entered Reference, Description, or Payee.
    • Cleared/Uncleared - click the drop-down list and select to display All records (cleared and uncleared), only the records that have been cleared, or display only records that have not been cleared.
    • Date - looks at the Date column heading on the data grid. Click the Calendar icon to enter a start and end date range. Otherwise, enter just the start or end date.
    • Type - click the drop-down list to select one of the following:
      • • Payment - when “Bank” is selected as the Type on a Bank Reconciliation, Payment displays for Cash Disbursements, Bank Disbursements, Refund Cash Receipts (or negative Cash Receipts) and credit Journal Entry Lines. When “Credit Card” is selected as the Type on a Bank Reconciliation, Payment displays for Cash Receipts, Bank Deposits, negative Cash Disbursements and debit Journal Entry Lines.
        • Deposit - when “Bank” is selected as the Type on a Bank Reconciliation, Deposit displays for Cash Receipts, Bank Deposits, negative Cash Disbursements and debit Journal Entry Lines.
        • Charge - displays only if a Credit Card GL Account was selected for the type of Account that will be reconciled. When “Credit Card” is selected as the Type on a Bank Reconciliation, Charge displays for Cash Disbursements, Bank Disbursements, Refund Cash Receipts (or negative Cash Receipts) and credit Journal Entry Lines.
    • Amount - enter a minimum and maximum amount range. Otherwise, enter one or the other. If you enter a value in the Amount filter, you must select a Type from the drop-down list.
      
      
      
      Note: To remove an added filter, click X.
      
      
      
• Help - click the hyperlink to access the Perform a Bank Reconciliation article directly from our Knowledge Base. The article will open in a new window.

Return to top

All of the column headings on the Bank Reconciliation data grid are sortable except the Cleared column, which is the first column heading. Click a column heading to sort it in ascending or descending order. 

Column headings on the Bank Reconciliation data grid include the following:

• Cleared - identifies if a record has been cleared (saved and added to the database) or still needs to be cleared. The Cleared column heading can include the following icons:
  • (Green checkmark) - indicates the record has been cleared automatically or you manually cleared the record.
  • (Plus Sign) - indicates that the record is uncleared and can be cleared manually. Click the + (plus sign) to manually clear the record. Click in the Bank Transaction Date field and select a date from the Calendar icon. Once the date is entered, the system will automatically clear the record.
    Note: While a Bank Transaction Date can be selected as a date that is greater than the Statement Ending Date, the recommended best practice is to select a Bank Transaction Date that is less than or equal to the Statement Ending Date.
  •  (Warning icon) - indicates that the record cannot be cleared for some reason. You can either hover over the icon or click it to view the reason why the record cannot be cleared. Reasons that a record cannot be cleared include the following: 
    • Informational warning: The record has already been cleared on a different Bank Reconciliation (the message will provide the other reconciliation number) and it cannot be cleared again on the current reconciliation. However, for the purpose of the Bank Reconciliation Calculation, it is still considered uncleared as of the Statement Ending Date.
      Note: A source record cannot be associated with (cleared on) more than one Bank Reconciliation.
    • Informational warning: The source record has been voided after the Statement Ending Date and it cannot be cleared on this reconciliation. However, for the purpose of the Bank Reconciliation Calculation, it is still considered uncleared as of the Statement Ending Date.
    • Actionable warning: The Bank Deposit was created prior to the Koali release and does not have the Ledger Amount field populated. Navigate to the Bank Deposit and click Edit. Then, to automatically populate the Ledger Amount field, click Save.
• Date - identifies the date based upon the source record:
  • Cash Receipt - Receipt Date
  • Cash Disbursement - Disbursement Date
  • Journal Entry Line - Journal Date
  • Bank Deposit - Deposit Date
  • Bank Disbursement - Disbursement Date
• Bank Transaction Date - the date that the record was cleared in Bank Direct Connect or the date that you manually entered in this field. This date is on the source record in the Bank Transaction Date field.
• Amount - the value/amount for this transaction record that is on the source record.
• Ledger Amount - this column heading only displays if multi-currency is enabled. This field identifies the actual value/amount that was posted to the General Ledger for each transaction.
• Source Link - provides a hyperlink to the source record.
• Type - identifies the type of transaction, which includes the following:
  • Payment - when “Bank” is selected as the Type on a Bank Reconciliation, Payment displays for Cash Disbursements, Bank Disbursements, Refund Cash Receipts (or negative Cash Receipts) and credit Journal Entry Lines. When “Credit Card” is selected as the Type on a Bank Reconciliation, Payment displays for Cash Receipts, Bank Deposits, negative Cash Disbursements and debit Journal Entry Lines.
  • Deposit - when “Bank” is selected as the Type on a Bank Reconciliation, Deposit displays for Cash Receipts, Bank Deposits, negative Cash Disbursements and debit Journal Entry Lines.
  • Charge - displays only if a Credit Card GL Account was selected for the type of Account that will be reconciled. When “Credit Card” is selected as the Type on a Bank Reconciliation, Charge displays for Cash Disbursements, Bank Disbursements, Refund Cash Receipts (negative Cash Receipts) and credit Journal Entry Lines.
• Ref - identifies the reference number on the source record, such as the customer’s check number or an electronic reference number. For Journal Entry Lines and Bank Deposits, if the Reference field is populated, the value from the Reference field will display in the Ref column.
  
  For Cash Receipts, if the Check Number and the Reference fields are populated on the source record, both will display in the Ref column on the Bank Reconciliation, respectively. The Reference field on Cash Receipts is a required field, so this will always display on the Bank Reconciliation in the Ref column. If the Check Number is not populated on the record, only the Reference field will display in the Ref column. The information in the Ref column for Cash Receipts will also display on the CSV file.
  
  For Cash Disbursements, the Ref column will populate based upon the following:
  • If the Check Number field on the disbursement is blank, but the Reference field is populated, the value in the Reference field will display in the Ref column on the Bank Reconciliation.
  • If the Check Number field on the disbursement is populated, but the Reference field is blank, the check number will display in the Ref column on the Bank Reconciliation.
  • If both the Check Number field and the Reference field on the disbursement are populated, the check number and the value in the Reference field will display, respectively.
    Note: The information from the Ref column for the Cash Disbursements will also display in the CSV file.
    
• Payee - provides a hyperlink to the Account Name that is on the source record.
• Description - a brief written representation to help identify the purpose for the transaction.

Return to top

Notes & Files Tab

The Notes & Files tab displays next to the Reconciliation tab. This is the tab that you want to click to view a PDF Summary and/or CSV File that has been created. 

Note: A PDF Summary can only be created for a Bank Reconciliation that is in a “Completed” status. A CSV File can be created for a Bank Reconciliation that is in an “In Progress” or “Completed” status.

Note: Click here to view the above image in full screen. 

Detail Tab

Use this tab to view concise details about the Bank Reconciliation all in one central location, such as Statement Ending Date, determine if the Override Beginning Balance checkbox was selected, or view GL Variable Account information.

Note: Click here to view the above image in full screen. 

Return to top

Automatic Cleared and Saved (committed) Records

Note: Automatic clearing of records on saved Bank Reconciliations depend upon the Disable Auto-Clear job setting in the Enablements screen. When this setting is turned “On,” records on the saved Bank Reconciliation(s) will not be automatically cleared. When this setting is turned “Off,” if more than one Bank Reconciliation was 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.”

Once you save a new or next Bank Reconciliation, a message displays to indicate that the Bank Reconciliation is in progress. During this brief time, the system will check for any uncleared records with the Bank Deposit date, Bank Disbursement date, Cash Disbursement date, Cash Receipt date, or Journal date that is less than or equal to the Statement Ending Date and have the Bank Transaction Date field pre-populated that is also less than or equal to the Statement Ending Date. Typically, records with the Bank Transaction Date pre-populated will be records that were added or matched in the Bank Direct Connect Bank Transactions. Records that have a pre-populated Bank Transaction Date will automatically be cleared and saved (committed) into the database. Therefore, you will not have to manually clear these records one at a time. Once a new or next Bank Reconciliation is saved, and the Bank Reconciliation screen displays, these records are easily identified with a green checkmark and the Bank Transaction Date .

Note: Click here to view the above image in full screen. 

Note: The automatic cleared and saved (committed) records process will only occur after a new or next Bank Reconciliation is saved. New records will not be automatically cleared and saved after a Bank Reconciliation is created. The new records will need to be manually cleared. One record at a time can be manually cleared or click Clear All to clear all records on a single page. 

Return to top

Clear Bank Dates

After a Bank Reconciliation is created, additional records from Bank Direct Connect Bank Transactions or other sources might show up on the reconciliation with the Bank Transaction Date pre-populated. The Clear Bank Dates button can be used to clear all records that have a pre-populated Bank Transaction Date.

Note: This button will only be available while the Bank Reconciliation is in an “In Progress” status. Additionally, once you click the Clear Bank Dates button, this process might take a few moments. The Bank Reconciliation cannot be edited until the process completes.

Bank Reconciliation with Multi-Currency

If you have multi-currency enabled in your organization (org), a Currency field displays in the header section of the Bank Reconciliation screen (to the right of Status). The Currency field identifies the currency for the Bank Reconciliation. Additionally, the Bank Reconciliation data grid includes the Ledger Amount column, which identifies the actual value/amount that was posted to the General Ledger for each record. 

With multi-currency, the value/amount that displays in the Ledger Amount column on each record will be the value/amount that makes up the Cleared Deposits and/or the Cleared Payments in the Bank Reconciliation Calculation.

In the sample screen below, the Amount column heading shows the value/amount on the source records and the Ledger Amount column identifies the value/amount that was posted to the General Ledger for each record. 

Note: Click here to view the above image in full screen. 

Keep the following points in mind when using multi-currency:

• If a Bank Reconciliation’s currency is equal to the Ledger’s currency, the source records that will be available to be reconciled can have any currency.
• If a Bank Reconciliation’s currency is not equal to the Ledger’s currency, only source records that match the Bank Reconciliation’s currency will display on the reconciliation. 
• If the foreign home currency is in use, the Bank Reconciliation will only support originating transactions that are in either the foreign home currency or the Ledger currency.

Return to top

Edit the Bank Transaction Date

The Bank Transaction Date field can be edited by clicking in the Bank Transaction Date field on the line that you want to edit. Then, click the Calendar ion in the Bank Transaction Date dialog box to select a date. Selecting a date before the Statement Ending Date will allow the system to automatically clear the record and save it in the database.

Note: If a record already has a Bank Transaction Date, but it needs to be adjusted, click in the Bank Transaction Date field and use the Calendar icon to select a different date.

Return to top

Bank Reconciliation for an Archived Period

When a Bank Reconciliation has an end date that falls within an archived period and is transitioning from a status of “In Progress” to “Completed,” the GL Ending Balance will not be calculated (it will display as zero, as in the sample screen below). The warning message below will display on the Bank Reconciliation.


Note: Click here to view the above image in full screen. 

Legacy Bank Reconciliations

Bank Reconciliations that were created in Accounting Seed before the Koali release can be selected and displayed in the new Bank Reconciliation screen from the All list view (or another list view that you have created). Once you display a legacy Bank Reconciliation, if reconciliation reports have previously been created, they will be available under the Notes & Files tab. 

The Status field on a legacy Bank Reconciliation cannot be changed/updated. 

To make certain changes to a source record, it cannot be already cleared on a Bank Reconciliation. If it has already been cleared, the source record must first be uncleared from that Bank Reconciliation prior to the changes being made. The Koali release allowed for these source records to be uncleared from legacy Bank Reconciliations. Then, after a source record is changed, re-cleared on the legacy Bank Reconciliation. To re-clear a source record on a legacy Bank Reconciliation, certain prerequisites have to be met.

Records can be uncleared and then re-cleared on a legacy Bank Reconciliation only if subsequent reconciliations that were created after installing the Koali release are in an “In Progress” status. If any subsequent reconciliations are in a “Completed” status, a message displays to indicate that the status must be “Set to In Progress” in order to proceed.

To unclear a record, click the green checkmark to manually unclear each record. To re-clear a record on a legacy Bank Reconciliation, click the plus sign (+) to clear a single record. 

If there are a large number of records that need to be uncleared, you might want to delete the legacy Bank Reconciliation and create a new one. Records that are uncleared or removed because the Bank Reconciliation was deleted will be available to display in a new Bank Reconciliation.

Note: If you delete a legacy Bank Reconciliation the associated reconciliation reports can still be viewed. Click the App Launcher and enter Files in the textbox. Then, select Files. Clickable links to open the previously created files will be available.

Return to top

Perform a Bank Reconciliation

Use the steps below to perform a Bank Reconciliation when the status is “In Progress.”

1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Banking menu, click Bank Reconciliations.
2. To display an existing reconciliation, select it from a list view. Typically, you want to select from a list view other than the Recently Viewed.
   Note: The Bank Reconciliation screen will also display when you create a new or next Bank Reconciliation and click Save. 
   
   Note: When you initially access the Bank Reconciliation screen, any records that were automatically cleared based upon the Bank Transaction Date from Bank Direct Connect Bank Transactions will be updated with a green checkmark to indicate these records have been cleared.
   
   
3. (Optional) If you have a large amount of records to clear, click the Pin icon to pin the Bank Reconciliation Calculation information so that it remains viewable as you scroll down the page. This provides the ability to see calculation amount changes in real time, as records are cleared.
   
   
   Note: Click here to view the above image in full screen. 
   
   
4. Click the + (plus sign) to manually clear one record at a time. Alternatively, click Clear All, which will clear all records on the current page. If you click Clear All (or Unclear All), a message displays to confirm that you want to Clear All records on the selected page. Click Yes to proceed. Otherwise, click No.
   Note: Clear All/Unclear All is a toggle and displays based upon records being cleared and uncleared on the Bank Reconciliation.
   
   Note: Up to 100 records per page can display on a Bank Reconciliation and up to 100 records per page can be cleared or uncleared. Additionally, records that are automatically cleared and saved upon the creation of a new/next Bank Reconciliation are not included as part of the up to 100 records per page that can be batch cleared/uncleared. For example, 50 records may have been automatically cleared and saved upon the creation of a new Bank Reconciliation. Using this example, up to 100 records per page could still be batch cleared. 
   
   Note: If you need to edit the Bank Transaction Date on a record before it’s cleared, click in the Bank Transaction Date field for the record. Then, click the Calendar icon to select a Bank Transaction Date and click Save. If you selected a date that is before the Statement Ending Date, the record will automatically be cleared and added to the database.
   
   
5. (Optional) To filter the data, click the Filter hyperlink. Then, filter the data based upon the following criteria:
   1. Reference, Description, or Payee - the system will search for and return records that contain the entered Reference, Description, or Payee.
   2. Cleared/Uncleared- click the drop-down list and select to display All records (cleared and uncleared), only the records that have been cleared, or display only records that have not been cleared.
   3. Date - click the Calendar icon to enter a start and end date range. Otherwise, enter just the start or end date. This filter represents the date that displays in the Date column heading on the data grid. The Date column heading is based upon the source record:
      
      1. Cash Receipt - Receipt Date
      2. Cash Disbursement - Disbursement Date
      3. Journal Entry Line - Journal Date
      4. Bank Deposit - Deposit Date
      5. Bank Disbursement - Disbursement Date
   4. Type - click the drop-down list to select one of the following:
      1. Payment - when “Bank” is selected as the Type on a Bank Reconciliation, Payment displays for Cash Disbursements, Bank Disbursements, Refund Cash Receipts (or negative Cash Receipts) and credit Journal Entry Lines. When “Credit Card” is selected as the Type on a Bank Reconciliation, Payment displays for Cash Receipts, Bank Deposits, negative Cash Disbursements and debit Journal Entry Lines.
      2. Deposit - when “Bank” is selected as the Type on a Bank Reconciliation, Deposit displays for Cash Receipts, Bank Deposits, negative Cash Disbursements and debit Journal Entry Lines.
      3. Charge - displays only if a Credit Card GL Account was selected for the type of Account that will be reconciled. When “Credit Card” is selected as the Type on a Bank Reconciliation, Charge displays for Cash Disbursements, Bank Disbursements, Refund Cash Receipts (or negative Cash Receipts) and credit Journal Entry Lines. 
   5. Amount - enter a minimum and maximum amount range. Otherwise, enter one or the other. If you enter a figure in the Amount filter, you must select a Type from the drop-down list.
      
      
      
      Note: To remove an added filter, click X.
      
      
      
      
6. (Optional) To view the Source Link or Payee on a record, click the respective hyperlink. The source record and/or Account screen will open in a new tab. 
7. Continue to clear records, as necessary.
8. When the Difference between the Cleared Balance and the Statement Ending Balance is equal to zero (0.00), the status can be “Set to Completed.” To change the status to Completed on the Bank Reconciliation, click Set to Completed.
   
   
   
   
9. The “Are you sure you want to change the bank reconciliation’s status to Completed?” message displays. Click Yes.
   Important: When changing the status of a Bank Reconciliation from “In Progress” to “Completed” and vice versa, similar to closing Accounting Periods, the current and the prior reconciliation must be taken into consideration. For example, if you attempted to change the status to “Completed” on the current Bank Reconciliation when the prior one is still in an “In Progress” status, a message displays to indicate that the status cannot be changed because the prior reconciliation is “In Progress.” Additionally, when changing a Bank Reconciliation status, only related reconciliations need to be considered (reconciliations with the same Bank or Credit Card Account).

Completed Status

When the Bank Reconciliation is in a “Completed” status, the calculation is modified to include the Calculated Balance vs the GL Ending Balance, along with the GL Difference. If the GL Difference is zero (0.00), the green checkmark displays. If the GL Difference is an amount other than zero, the Warning icon displays with the amount that makes up the difference, as in the sample screen below. The Statement Balance to the GL Balance calculation is informational only and will not impede your ability to create the next Bank Reconciliation.

Note: Click here to view the above image in full screen. 

If you need to make adjustments to the Bank Reconciliation, click Set to In Progress and select Yes to set the status back to “In Progress.” Then, proceed to make adjustments, as necessary.

Return to top

Create a PDF Summary

The PDF Summary can only be created for a Bank Reconciliation that is in a Completed status. 

1. If you already have a Bank Reconciliation displayed, click Create PDF Summary. Otherwise, navigate to Accounting Home and click the Create Entries tab. Then, under the Banking menu, click Bank Reconciliations. Select an existing Bank Reconciliation from a list view. Typically, you want to select from a list view other than the Recently Viewed. Then, click Create PDF Summary.
2. From the Create Bank Reconciliation PDF dialog box, click Create PDF Summary.
   
   
   
   Note: A brief message might display while the summary is being generated.
   
   
3. Click the Notes & Files tab to view the PDF Summary.
4. Click the PDF Summary to open the file.

The PDF Summary includes a summary of the Statement Ending Balance and GL Ending Balance amounts that display in the Bank Reconciliation Calculation section of the Bank Reconciliation screen. The sample screen below includes a Reconciliation Summary for a Credit Card GL Account.

Return to top

Create a CSV File

1. If you already have a Bank Reconciliation displayed, click Create CSV File. Otherwise, navigate to Accounting Home and click the Create Entries tab. Then, under the Banking menu, click Bank Reconciliations. Select an existing Bank Reconciliation from a list view. Typically, you want to select from a list view other than the Recently Viewed. Then, click Create CSV File.
2. From the Create Bank Reconciliation CSV dialog box, click Create CSV File.
   
   
   
   Note: A brief message might display while the file is being generated.
   
   
3. Click the Notes & Files tab to view the CSV File.
4. Click the CSV File. Then, click Download.
5. Click the downloaded file to open it.

The CSV File contains a list of all the records that are included on the selected Bank Reconciliation. This file can be generated for Bank Reconciliations that are in a status of In Progress or Completed. Records that have been cleared display in the Cleared column heading with the word “True” and records that have not been cleared display as “False.”

Note: Click here to view the above image in full screen. 

Return to top

____________________

Winter '25 Release

Release Notes and Schedule

Automatic clearing of records on saved Bank Reconciliations depend upon the Disable Auto-Clear job setting in the Enablements screen.