Clear Checks, Deposits, and Adjustments

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Use this procedure to clear checks, deposits, and adjustments that appear on your bank statement to clear the current period activity.

 

To clear checks, deposits, and adjustments

  1. Select Bank Reconciliation Main menu > Reconcile Bank.

  2. In the Bank Code field, enter the bank code of the bank from which to clear checks, deposits, and adjustments. For more information, see Reconcile Bank – Fields.

  3. In the Statement Ending Balance field, type the ending balance that appears on your bank statement.

  4. On the Checks tab, select the Cleared check box for each check that has cleared the bank.

  5. In the Cleared Date field, enter the date the check cleared the bank if the date is different than the module default date. Click the Select Checks to Clear button to select checks by check number and check date based on the cleared date selected. For more information, see Select Checks to Clear - Fields.

Note When a check is cleared, the amount of the check is added to the amount in the Out of Balance By field.

  1. Click the Dep/Adjust tab to view outstanding deposits and adjustments.

  2. Select the Cleared check box for each deposit or adjustment that has cleared the bank.

  3. In the Cleared Date field, enter the date the adjustment cleared the bank if the date is different than the module default date. Click the Select Deposits and Adjustments to Clear button to select deposits and adjustments by document date based on the cleared date selected. For more information, see Select Deposits and Adjustments to Clear - Fields.

Note When a deposit or adjustment is cleared, the amount of the deposit or adjustment is subtracted from the amount in the Out of Balance By field.

  1. Click the Print button to print the Bank Reconciliation Report. Verify that the adjusted book balance matches the current bank balance on the Bank Reconciliation Report.

Note If other modules are not integrated with Bank Reconciliation, you must enter and clear all checks, deposits, and adjustments for the month for all entries not shown on your bank statement.

Note If your bank statement does not list cleared checks in numerical order, you can use Check, Deposit and Adjustment Entry to clear monthly transactions; however, you must use Reconcile Bank to enter the correct ending balance from your monthly bank statement before clearing checks.

The checks, deposits, and adjustments are cleared.