1. Fields & Descriptions for Bank Reconciliation
1.1. New Statement Information

 
Bank Reconciliation Enter New Statement Information Field and Definitions:
 
Bank Name The name of the bank which is being reconciled
Account Number The number that the bank has for this account
Account Title The G/L title for this bank
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.
Beginning Balance Beginning Balance for this account
Statement Date  The date of the bank statement
Ending Balance 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.

                              

        

1.2. Deposits Tab
 
 
Field Defintions - Bank Reconciliation Deposits tab:

NOTE:  Users have the ability to sort by all the grids.  If you click on the same header twice the sort order will switch from ascending to descending.


Statement Date

The date of the bank statement
Reconciliation Status

The status of this reconciliation – In Process, Reconciled
If Displayed in RED, there is an existing note pertaining to the Reconciliation, entered by the user
Depressing this button will bring up the Enter New Statement Information screen
Depress this button when the Unreconciled Difference is zero to reconcile the Bank Account
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.
 
AR Deposits
 
Date Original date the deposit was created 
Amount Total Dollar Amount of the Deposit
Customer Name of Customer Deposit was received from
Invoice Invoice number deposit was applied to
Check/Advice # Customer Check Number
Cleared Check if Cleared from Bank Account
 
AR Non Sufficient Funds
 
Date Original date the Non-Sufficient Fund record was created
Amount Total Dollar Amount of the AR Non-Sufficient Fund Record
Customer Name of Customer for Non Sufficient Funds
Check/Advice # Check Number that the Non Sufficient Funds are applied against 
Cleared Check if Cleared from Bank Account
Depress this button to add a new NSF
 
Journal Entries (Debits)
 
Date Orginal date the JE was Created
Amount Total Dollar Amount of the Journal Entry
Journal Entry Journal Entry Number
Reason Reason for the Journal Entry
Cleared Check if Cleared from Bank Account
Depress this button to add a New Journal Entry
 
 
 
 
Deposits Cleared per Bank This information will be defaulted in from the New Statement Information 
Deposits Marked as Cleared This is the sum of all deposits that were marked as cleared
Difference in Deposits This is the difference between the Deposits Cleared per Bank and the Deposits Marked as Cleared. This should be zero
Un-Cleared Deposits This is the sum of all of the deposits listed which were not marked as cleared 
 
 
Checks Cleared per Bank This information will be defaulted in from the New Statement Information
Checks Marked as Cleared This is the sum of all checks that were marked as cleared
Difference  This is the difference between the Checks Cleared per Bank and the Checks Marked as Cleared. This should be zero
Un-Cleared Checks This is the sum of all of the checks listed which were not marked as cleared
 
 
Beginning Balance

Beginning Balance for this account
Ending Balance

The ending balance per the bank statement
Unreconciled Difference

This would be any difference between the New Ending Balance per Bank and the Calculated Balance per Bank. This amount should be zero

 
 
 
1.3. Checks Tab
 
Field Defintions - Bank Reconciliation Checks tab:

NOTE: Users have the ability to sort by all the grids.  If you click on the same header twice the sort order will switch from ascending to descending.


Statement Date

The date of the bank statement
Reconciliation Status

The status of this reconciliation – In Process, Reconciled
If Displayed in RED, there is an existing note pertaining to the Reconciliation, entered by the user
Depressing this button will bring up the Enter New Statement Information screen
Depress this button when the Unreconciled Difference is zero to reconcile the Bank Account
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.
 
AP Check
 
 
Payee The Name of the Payee
Date The date the Check was created
Check No The Number on the Check  
Amount Total Dollar Amount on the Check 
Cleared Check if this check has cleared the bank account
 
 
Journal Entries (Credits)
 
Date Orginal date the JE was Created
Amount Total Dollar Amount of the Journal Entry
Journal Entry Journal Entry Number
Reason Reason for the Journal Entry
Cleared Check if Cleared from Bank Account
Depress this button to add a New Journal Entry
 
 
Deposits Cleared per Bank This information will be defaulted in from the New Statement Information
Deposits Marked as Cleared This is the sum of all deposits that were marked as cleared
Difference in Deposits This is the difference between the Deposits Cleared per Bank and the Deposits Marked as Cleared. This should be zero
Un-Cleared Deposits This is the sum of all of the deposits listed which were not marked as cleared
 
 
Checks Cleared per Bank This information will be defaulted in from the New Statement Information
Checks Marked as Cleared This is the sum of all checks that were marked as cleared
Difference This is the difference between the Checks Cleared per Bank and the Checks Marked as Cleared. This should be zero
Un-Cleared Checks This is the sum of all of the checks listed which were not marked as cleared
 
 
Beginning Balance

Beginning Balance for this account
Ending Balance

The ending balance per the bank statement
Unreconciled Difference

This would be any difference between the New Ending Balance per Bank and the Calculated Balance per Bank. This amount should be zero

 
1.4. Generate Automatic Deductions Tab
 
Bank Name The name of the bank which is being 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.
 
Automatic Bank Deductions
 
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.
Descriptions  Description of Automatic Bank Deductions 
Sch Date Bank deduction scheduled date
Amount Amount of Deduction
Generate To   Enter date to Generate Automatic Bank Deductions to
Depress this button to Generate the Auto Deductions