General Ledger - Bank Reconciliation

Menu Selection: Document - General Ledger - Bank Reconciliation

Purpose

This document allows the user to reconcile the company's book balance against the bank statement balance.

Prerequisites

The bank account to be reconciled must have been created via the Documents - General Ledger - Chart of Accounts document.

Context

Almost invariable, the ending balance on the bank statement differs from the balance in the company's Cash At Bank account. Some reasons for the differences are:

  1. Unpresented cheques
  2. Deposits not yet credited by the bank
  3. Charges made by the bank but not yet reflected in the depositor's books
  4. Credits made by the bank but not yet reflected in the depositor's books
  5. Accounting errors

The bank reconciliation is a schedule that accounts for any of the above differences between the bank statement balance and the company's book balance.

About This Screen

Head of the Document
Field Enterable? Instructions
Ledger No This field is always set to BALANCE.
Account Yes Type in, or search for (using the F12 button), the bank account to reconcile. The bank account must be an account of the BALANCE ledger.
Sub No This field is always blank.
Period No Displays the currently signed in period.
Brought Forward No  
Manual Adjustments Yes  
Current Balances No  

Lines of the Document
Batch No Displays the batch of the transaction.
Date No Displays the date of the original document.
Type No Displays the type of the original document.
Document No Displays the name of the original document.
Ref No Displays the reference number of the original document.
Other Account No Displays the account the other side of the transaction was posted to.
Page Yes Type in the page number which this entry appears on the bank statement.
Unpresented No If the Page field is blank, the value of the transaction appears in this field, and it is treated as unpresented. It will appear on future bank reconciliation documents.
Presented No If the Page field is not blank, the value of the transaction appears in this field, and it is treated as presented. It will not appear on future bank reconciliation documents.

Transaction Processing

Button Description
Refresh  
Erase!  

From Here

Description of what can be done from here