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Select Bank Reconciliation Main menu > Reconcile Bank.
Use Reconcile Bank to enter the ending balance from your monthly bank statement at the end of each banking period. You can also check off all cleared checks, deposits, and adjustments.
The Checks tab displays all outstanding checks and indicates if they have cleared and the date they cleared. Checks voided automatically by the system when printing an alignment pattern, as well as checks that have been voided manually, are listed. Click Add Check to open the Bank Reconciliation Check Entry window and enter checks on the fly. This button is available only if the appropriate security is set up in Role Maintenance.
The Dep/Adjust tab displays all outstanding deposits and adjustments and indicates if they have cleared and the date they cleared. Click Add Dep/Adjust to open the Bank Reconciliation Deposit and Adjustment Entry window and enter deposits and adjustments on the fly. This button is available only if the appropriate security is set up in Role Maintenance.
Note Wire transfer payments updated through the Accounts Payable module display in this task.
Click the Print button to print the Bank Reconciliation Report. Verify that the adjusted bank balance amount and the calculated book balance amount on the Bank Reconciliation Report match. If the amounts do not match, you are out of balance. Refer to the Adjust an Out-of-Balance Condition procedure to correct the out of balance.
Click Bank Recap Report to review the transactions when reconciling the bank statement. Click B/R Transaction Register for the bank code selected to update the transactions to the General Ledger module. These buttons are available only with the appropriate security setup.
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1. Checks |
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2. Deposit/Adjustment |
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