Reconcile Bank Reconciliation for the First Time after Integration

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Expand/Collapse item  Overview

Use this procedure to reconcile the Bank Reconciliation Report for the first time after the Bank Reconciliation module is integrated.

Do not use this procedure to reconcile monthly statements that are out of balance.

Expand/Collapse item  Before You Begin

  • Back up the system before performing this procedure.

  • In Windows, set the date format to display the year in four digits.

 

To reconcile Bank Reconciliation for the first time after integration

  1. Select Bank Reconciliation Main menu > Bank Reconciliation Report.

  2. In the Document Types to Print field, select All Types. For more information, see Bank Reconciliation Report – Fields.

  3. In the Print Cleared Documents field, select All Documents.

  4. Clear the Summarize Activity check box.

  5. In the first Bank Code Value field, enter the bank code to reconcile. Verify Equal to is selected at the Operand field.

  6. In the Document Date Operand field, select All or Range. If Range is selected in the Operand field, enter an ending date in the second Value field only.

  7. Click Print. The Bank Reconciliation Report shows an out-of-balance amount.

Note If the Bank Reconciliation Report does not show an out-of-balance amount, the correct amount is already in Bank Code Maintenance, and a bank statement for a single month can be reconciled.

  1. Select Bank Reconciliation Main menu > Bank Code Maintenance.

  2. In the Bank Code field, enter the bank code to reconcile. For more information, see Bank Code Maintenance – Fields.

  3. Write down the amount displayed in the Current Balance field.

  4. Add or subtract the out-of-balance amount on the Bank Reconciliation Report to/from the current balance amount.

  5. Enter the new amount in the Current Balance field. Click Accept.

  6. Repeat steps 1 through 7. The out-of-balance amount should now be zero.

Note If the out-of-balance amount has doubled, the calculation in step 11 was performed incorrectly. Reverse the calculation, and reprint the report to verify the out-of-balance figure is zero.

Bank Reconciliation can now be reconciled to a statement for a single month.