Bank Reconciliation Summary tab Field and Definitions:
| Bank Name |
The name of the bank which was reconciled |
| Account Title |
The G/L title for this bank |
| Account Number |
The number that the bank has for this account |
| Statement Date |
The date of the bank statement |
| Reconciliation Status |
The status of this reconciliation – In Process, Reconciled |
| Last Statement Reconciled |
The date of the last reconciliation for this bank will default into this field. This field is editable when the users process a Bank Statement for the first time, but will only allow you to enter a date that is earlier than the Statement Date that is being processed. This will prevent the user from accidentally entering in the exact same date or later than the Statement Date being processed. |
| Last Ending Balance per Bank |
The ending balance per the last bank reconciliation |
Information per Bank Statement
| New Ending Balance per Bank |
For the current statement, the ending balance per the bank statement. |
| Deposits Cleared per Bank |
This is the total of all of the cleared deposits per the bank statement |
| Checks Cleared per Bank |
This is the total of all of the cleared checks per the bank statement |
| Interest Earned per Bank |
This is the amount of any interest credited to the bank account by the bank. Upon the final save after the reconciliation is complete, the appropriate journal entry is created |
| Service Charges per Bank |
This is the amount of any charges debited to the bank account by the bank. Upon the final save after the reconciliation is complete, the appropriate journal entry is created. |
| Calculated Balance per Bank |
This amount is the opening balance + deposits cleared – checks cleared + interest earned – service charges and should equal the exact amount of the ending balance per the bank statement. |
| Difference |
This would be any difference between the New Ending Balance per Bank and the Calculated Balance per Bank. This amount should be zero. |
Reconciliation (There is no data entry required for this column. All of the line items are entered elsewhere and forwarded into this column.)
| Book Balance Date |
The as of date for which the general ledger bank balance is being reconciled. Transaction recorded after that date will not be considered for this reconciliation. |
| Interest Earned |
Reversing the amount of interest income to be recorded into the general ledger, since it’s already been added in the Information per Bank Statement section. |
| Service Charges |
Reversing the amount of service charges to be recorded into the general ledger, since it’s already been added in the Information per Bank Statement section. |
| Deposit Corrections |
The net deposit correction forwarding from the Deposit tab. |
| Check Corrections |
The net check corrections forwarding from the Checks tab. |
| Outstanding Deposits |
The sum of all of the uncleared deposits forwarding from the Deposits tab |
| Outstanding Checks |
The sum of all of the uncleared checks forwarding from the Checks tab. |
| Adjusted Bank Balance |
This is Ending Balance per Bank - the Interest Earned, + the Service Charges, + or - the Deposit Corrections, + or – the Checks Corrections, + the Outstanding Deposits, less the Outstanding Checks. |
| Balance per Books |
The Balance per Books is the current balance after all transactions have been adjusted that are dated between the reconciliation started (Last Stmt date or last book balance date) and before the current Book Balance date. (If you take the Balance per Books from the last statement, add Deposits, subtract new checks, subtract NSF checks, and add or subtract new JE you should get the current Balance per Books). Note: The JEs are adjusted off the Posted Date and NOT the Transaction Date. ManEx recommends that you ONLY create a JE to make corrections to the bank balance if it CANNOT be accounted for through the bank reconciliation module. For an example see attachment <<ps_071114_a.doc>> |
| Unreconciled Difference |
This is any difference between the Adjusted Bank Balance and the Balance per Books. Note that this balance should be zero. |
 |
If lit in RED, this is any notation entered by the user. |
| Date Last Changed |
The last date of the completed reconciliation or in process reconciliation |
| By |
The initials of the reconciler |
 |
If lit in RED, the recordings of any edits. |
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