Bank Reconciliation
Overview
Bank accounts may be reconciled using the Bank Reconciliation feature. Bank accounts may be reconciled as often as needed.
This module can be added to a Menu Group by selecting the Fixed ratio button and scrolling down to Bank Reconciliation.
Settings
User Settings
Note
The defaults are the values for new databases, new users and new Transaction Types. Your database may have different values.
| Setting | Description | Default |
|---|---|---|
| Accounting > Banking (Import and Reconciliation) - Access Allowed | Checkbox. If checked, access is allowed. | Unchecked |
Status Settings
- For all Transaction Types that affect a bank account, the final complete status must have the default Reconciled.
- If this status is not set, the transaction cannot be added to the bank recon.
Statuses Explained
| Status | Description |
|---|---|
| Pending | The bank reconciliation can be edited and deleted. |
| Complete | The bank reconciliation is read-only and cannot be deleted. |
List View
The List View displays a summary of Bank Reconciliations.
Buttons Explained
| Button | Description |
|---|---|
| View | Generates a list of bank reconciliations according to the selected Data Filters. |
| New | Creates a Bank Reconciliation. |
| Menu |
|
Data Filters Explained
| Filter | Description |
|---|---|
| Set | Sets a specific period such as Today, This Month, This Year, Fin Year. |
| Dates | Filters the data according to the selected Start and End Dates. |
| ← → | Adjusts the Date forwards or backwards. |
| Bank | Dropdown list from which a Bank Account can be selected. |
| Status | Dropdown list to filter transactions that have Pending, Complete or both statuses. |
Fields Explained
| Field | Description |
|---|---|
| Field Chooser (*) | Add or remove columns. |
| ID | A system-generated number for the bank reconciliation. |
| Status | The Status of the bank reconciliation. |
| Date | The Date of the bank reconciliation. |
| Account | The Bank Account that was reconciled / is being reconciled. |
| Statement | The Bank Statement's balance that was entered. |
| Dr Uncleared | The value of debited transactions that were not cleared. |
| Cr Uncleared | The value of credited transactions that were not cleared. |
| Adjusted | The total of items marked as reconciled. |
| Ledger | The balance of the bank account in the Ledger. |
| Variance | The difference between the Adjusted and Ledger columns. |
| Note | Any Notes entered during the bank reconciliation. |
| Menu (...) | A submenu to Edit or Delete the bank reconciliation. |
Edit View
Info
Edit View refers to the interface you use to reconcile a bank account.
Buttons Explained
| Button | Description |
|---|---|
| ⬆ ⬇ | Use the arrows to scroll through transactions. |
| New | Creates a bank reconciliation. |
| Delete | Deletes a bank reconciliation. |
| Save | Saves or Refreshes (recalculates) the information. |
| Done | Changes the bank reconciliation's status to Complete. |
| Menu |
|
| Layout & Grids |
|
| Add | Adds all the selected transactions to the Bank Statement section. |
| Remove | Removes all the selected transactions from the Bank Statement section. |
Header Fields Explained
| Field | Description |
|---|---|
| Status | The Status of the bank reconciliation. |
| Account | The Bank Account being reconciled. |
| Date | The Reconciliation Date (should be the last date on the bank statement).
|
| Balance as per bank statement | Enter the bank statement balance on the selected date. |
| Debit transactions not cleared | A running total of all uncleared debit transactions. |
| Credit transactions not cleared | A running total of all uncleared credit transactions. |
| Adjusted Bank Balance | The sum of all cleared transactions. |
| Ledger Balance | The ledger balance of the selected bank account. |
| Variance | The difference between the Adjusted Bank Balance and Ledger Balance. |
Outstanding Fields Explained
Info
Displays a list of transactions linked to the Bank Account that have not yet been reconciled and are on or before the selected date.
| Field | Description |
|---|---|
| Field Chooser (*) | Add or remove columns. |
| ID | The system-generated number for the entry. |
| TransID | The system-generated number for the transaction. |
| Status | The Status of the original transaction. |
| Type | A code indicating the Transaction Type used to record the transaction. |
| No. | The transaction number in the Ledger.
|
| Period | The period that was selected when the transaction was recorded. |
| Reference | The reference that was entered when the transaction was recorded. |
| Description | The description that was entered when the transaction was recorded. |
| Dr Account | The Account that was Debited. |
| Cr Account | The Account that was Credited. |
| Debit | The amount that was Debited to the bank account. |
| Credit | The amount that was Credited to the bank account. |
| Balance | A running total of the outstanding entries. |
Bank Statement Fields Explained
Info
The opening balance is the closing balance on the previous bank reconciliation.
| Field | Description |
|---|---|
| Field Chooser (*) | Add or remove columns. |
| ID | The system-generated number for the bank statement entry. |
| TransID | The system-generated number for the transaction. |
| Status | The status of the original transaction. |
| Trans | A code indicating the Transaction Type used to record the transaction. |
| No | The transaction number in the Ledger. |
| Period | The period that was selected when the transaction was recorded. |
| Company | The name of the Supplier or Customer linked to the transaction. |
| Reference | The reference that was entered when the transaction was recorded. |
| Description | The description that was entered when the transaction was recorded. |
| Debit | The transaction amount that was debited to the bank account. |
| Credit | The transaction amount that was credited to the bank account. |
| Balance | Running total of the adjusted bank account balance. |
Technical Information: Clear existing transactions
- A script can be used to set the Statement Date on existing transactions to the Period date – this will effectively remove transactions from the Pending list.
- See Shared Drives/Downloads/BOS Enterprise 22/Scripts/BOS Ent 22 – Set Opening Bank Reconciliation.