1. Fields & Descriptions for Bank Reconciliation
1.1. Summary Tab

 
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.
                             

        

1.2. Deposits Tab
 
 
Field Defintions - Bank Reconciliation Deposits tab:
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.
Deposits  The date of the deposit, the amount and whether or not it’s cleared.  NSF records will display as a negative entry.
If the user wants all of the deposits checks as cleared, this button is used.
The user highlights the first deposit to be checked and then uses this button to check all of the rest.
Deposits Cleared per Bank This has forwarded from the Summary tab Information from Bank Statement
Deposits Marked as Cleared  This is the sum of all deposits checked in the Y/N column.
Difference   This is the difference between the Deposits Cleared per Bank and the Deposits Marked as Cleared. This should be zero.
Total Outstanding Deposits  This is the sum of all of the deposits listed which were not checked in the Y/N column.
 
1.3. Checks Tab
 
 
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.
Checks The name of the Payee, the date of the check, teh check no, the amount and whether or not it’s cleared.
If the user wants all of the checks as cleared, this button is used.
The user highlights the first check and then uses this button to check all of the rest.
Checks Cleared per Bank This has forwarded from the Summary tab Information from Bank Statement
Checks Marked as Cleared  This is the sum of all checks checked in the Y/N column.
Difference   This is the difference between the checks that Cleared per Bank and the Checks Marked as Cleared. This should be zero.
Total Outstanding Checks  This is the sum of all of the checks listed which were not checked in the Y/N column.
 
1.4. Generate Automatic Deductions Tab
 
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.
Current Bank Balance The current bank balance.
If the user wants none of the automatic bank deductions generated, this button is used.
The user highlights the first check and then uses this button to uncheck all of the rest.
Charge Account  Y/N to Generate Auto Deductions.
Automatic Bank Deductions Description of Automatic Bank Deductions, scheduled date and amount of deductions.
Generate To   Enter date to Generate Automatic Bank Deductions to.
Depress this button to Generate the Auto Deductions.