Bank Reconciliations

The system maintains a transaction history of all activity against the bank checking accounts your company uses. You can view this information through the Bank Reconciliations form, and also prepare bank reconciliations by tracking what has been recorded by the bank.

Checks that are printed through Payroll and Accounts Payable are automatically recorded, along with checks that have been voided due to a reprint, enabling you to view and reconcile each check. To reflect miscellaneous charges, you must either manually add them through the grid on this form, or record them in the General Journal or a user-defined journal.

NOTE: You cannot enter post-dated checks until they have been deposited.

Summary bank reconciliation records are automatically created when you process the following forms:

• A/R Payment Posting (for payment types: Check, Wire, and Adjustment only)
• A/R Adjustment Posting
• A/R Wire Posting
• Returned Checks

The Actions menu includes these options, which are also available as buttons on the form:

• Balance Compute - processes all transactions for the current bank account, and updates its balance. You must select this option to update the balance after adding new transactions.
• Bank Addresses - opens the Bank Addresses form with the bank address information displayed for the currently selected bank code.

Related Topics

Accounts Payable Setup

General Ledger Steps

Paying for Purchases with a Credit Card

Preparing a Bank Reconciliation

Processing Returned Checks