Integrating Other Modules with Bank Reconciliation

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The Bank Reconciliation module is used with the General Ledger, Accounts Payable, Accounts Receivable, Payroll, and Purchase Order modules to process reconciliation of the bank statement. Modules integrated with Bank Reconciliation share information, which eliminates the reentry of information already stored within the system. To perform monthly reconciliation of the bank statement, you only need to verify that transactions recorded by the system agree with the bank statement. Any discrepancy or missing information is easily identified.

The benefits of integrating these accounting modules with Bank Reconciliation follow.

 

Expand/Collapse item  General Ledger

When the General Ledger module is integrated with Bank Reconciliation, a bank code can be entered using Transaction Journal Entry, and check disbursement and deposit information (for example, cash receipt) is posted to the Bank Reconciliation module.

 

Expand/Collapse item  Accounts Payable

When the Accounts Payable module is integrated with Bank Reconciliation, all checks recorded using Check Printing and Electronic Payment and Manual Check and Payment Entry (including voided checks) are posted to the Bank Reconciliation module.

 

Expand/Collapse item  Accounts Receivable

When the Accounts Receivable module is integrated with Bank Reconciliation, all deposits processed using Cash Receipts Entry are posted to the Bank Reconciliation module.

 

Expand/Collapse item  Payroll

 

When the Payroll module is integrated with Bank Reconciliation, all automatically printed or manually entered checks processed in Check Printing and Payroll Data Entry are posted to the Bank Reconciliation module.

 

Expand/Collapse item  Purchase Order

When the Purchase Order module is integrated with Bank Reconciliation, all COD payments entered for receipts with an invoice number using Receipt of Goods Entry and all invoices entered using Receipt of Invoice Entry are posted to the Bank Reconciliation module. The information is updated to the bank code entered on the Totals tab in these tasks.