Bank Reconciliation - Checks
The Checks tab is used to reconcile checks to the General Ledger accounts where they originated. It is also used to record all checks issued and canceled. This screen replaces the legacy Checks Reconciliation screen.
To open the Checks tab, navigate to Financial Management > General Ledger > Bank Reconciliation, and click an Account Number. See also: Bank Reconciliation
Bank Reconciliation Reports
These reports are produced when working with a Bank Reconciliation:
| BNKRC06 | Bank Reconciliation - Preliminary |
| BNKRC06 | Bank Reconciliation - Final |
The Beginning Bank Balance displayed on the BNKRC06 report is calculated as: Statement Ending Balance – Total Reconciled Miscellaneous Entries + Total Reconciled Checks
All entries on the BNKRC06 report are sorted by date, regardless of the sorting options selected on the listing screen or the order in which the entries appear on the listing screen.
Screen Description
These fields appear on the Checks tab:
| Field | Description |
|---|---|
| Set Bank Statement Date | Enter or select the date on the current Bank Statement. |
| Statement Ending Balance | Enter the closing balance on the current Bank Statement as of the date on that statement |
| Outstanding Checks | The total value of the checks in the system that are still marked outstanding. |
| Outstanding Miscellaneous Entries | The total value of the miscellaneous entries in the system that are still marked outstanding. |
| Current G/L Balance | The current balance of the general ledger as of today. |
| Unrecorded Entries |
The value entered in this field will be subtracted from the Unreconciled Difference value, allowing you to perform the Bank Rec update. If the Unreconciled Difference is over 0, the update cannot be performed. Note: This value is not recorded in the system and should only used to temporarily adjust the Unreconciled Difference so you can perform the update. For example, if there is an Unreconciled Difference of 200 dollars but you need to perform the update and are certain that the 200 dollar difference is the result of a deposit that has yet to be processed, enter 200 in this field to complete the update. |
| Unreconciled Difference |
The goal of working with the Bank Reconciliation system is to make this value zero for each account. The unreconciled difference is calculated as: Statement Ending Balance - (Current G/L Balance + Outstanding checks - Outstanding Miscellaneous Entries). |
These sorting options appear on the Checks tab:
|
Sort by |
|
|---|---|
| Field | Description |
| Check Date | Sorts the search results by check date. |
| Check Number | Sorts the search results by check number. |
| Amount | Sorts the search results by amount. |
| Reconciliation Number | Sorts the search results by reconciliation number. |
| Show Outstanding Only |
If checked, arranges results so that only accounts in Outstanding status are displayed. Auto Reconcile Check searches are ignored if this checkbox is active. |
| Position to Check Number | Used in conjunction with the Go >> link to reposition the check list to the check number specified. |
| Auto Reconcile Check Numbers | The range of checks entered in the From and To fields will automatically be reconciled by the system, after clicking Go >>. |
These fields appear on the Checks tab:
| Field | Description |
|---|---|
| Outstanding | Shows which checks are outstanding. Select the radio button to set the corresponding check as outstanding. |
| Reconciled | Shows which checks are reconciled/paid. Select the radio button to set the corresponding check as reconciled. |
| Canceled | Show which checks have been canceled. Select the radio button to set the corresponding check as canceled. |
| Check Number | The check number. |
| Reconciliation Number | The reconciliation number. |
| Amount | The payment amount on the check. |
| Check Date | The date the check was issued. |
| Vendor | The vendor name. |
Click on a Vendor name to open the Vendor Profile screen.
Use these buttons to complete your work on the Checks tab:
| Button | Function |
|---|---|
| Save | Saves the changes made on the Check tab. |
| Close | Closes the Checks tab and returns you to the Bank Reconciliation screen. |
| Preliminary | Set the printing parameters for printing and create the reconciliation preliminary report. |
| Update | Once the Unreconciled Difference is balanced to $0.00 for this account, you may finalize the report using this button and generate the final reconciliation report. |