Bank Account Reconciliation (20.11+)

Your state must be configured to use this version of Bank Account Reconciliation.

Menu Path: From Fund Accounting, select Periodic Routines, select Periodic Processing, and then select Bank Account Reconciliation.

Use this page to reconcile bank statements for checks and deposits that have been cleared by your bank.

The following are functions you can perform in reconciling your bank statements:

Load deposits, checks, and journal entries from your database.
Compare items against your bank statement and mark them as cleared.
Enter adjustments to correct differences without affecting your records.
Generate reports showing the results of your entries.
Save your records so you can interrupt a reconciliation and finish it later.
Purge an incomplete reconciliation should you need to start over.
Post a reconciliation once it is completed. This marks cleared records as reconciled and provides a starting balance for reconciling your next statement.
Create journal entries reflecting bank fees charged and interest earned.
Display transaction totals and cleared/uncleared amount totals.
Display checks in the correct period using the Set Period option on the Vendor Checks page.

The load process is modified to select the appropriate records when the Fund Accounting profile option Print Checks by Bank is checked.
The load process excludes the system-generated interfund journal entries.
The load process loads Payroll checks in addition to A/P checks based on the payroll fund and payroll cash in the Fund Accounting profile. This must match bank account set up. Voided Payroll checks can also be loaded.

Data Entry Sections

The fields in these sections enable you to enter criteria for loading records and generating journal entries for any interest and fees:

Bank Statement Information

Accepts the bank account number and the beginning and ending dates and balances for reconciling your transactions against your bank statement.

Payments transactions are selected based on Check Date while all other transactions are selected based on Transaction Date.

Interest/Fees

Accepts the amounts of any interest or fees. The system creates journal entries in Fund Accounting based on the amounts entered. Also, the system selects the section's Complete checkbox when you use the Reconcile item. This indicates the reconciliation is closed.

Tabs

The Bank Account Reconciliation page includes the following tabs:

Tab	Description
Deposits	Lists deposits for the bank account selected. Deposits are groupings of receipts (Transaction Code 24).
A/P Payments	Lists accounts payable checks (Transaction Code 21) as well as manual checks (Transaction Code 20).
Journal Entries	Lists journal entries (Transaction Code 19) for transactions associated with your bank account.
Adjustments	Enables you to enter debits and credits to account for differences between your records and the bank statement.
A/P Voids	Lists voided and canceled checks.
Payroll Payments	Lists payroll payments for the selected bank account.
Payroll Voids	Lists payroll voids for the selected bank account.

Data Load for Reconciliation (22.4 and above)

If the Print Checks by Bank Account option is enabled in the Fund Accounting profile, the data load uses a modified program.

After the user selects a bank account and period to perform a bank reconciliation, the system uses the modified program to pull records based on the bank account by using the Bank Information Data table on the Bank File Account Information page. As a result, for the selected period (Statement Begin Date to Statement End Date), the information is loaded as follows:

All deposits made with the same Bank Account
All Journal Entries that have a cash account that matches any cash account on the bank account information table
A/P Checks and A/P Voids, and Manual Checks and Manual Voids that match the selected bank account
For Payroll Payments and Payroll Voids if the payroll bank account in the Fund Accounting Profile matches the selected bank account

Action Bar Items

After you complete the fields in the Bank Statement Information and Interest/Fees sections, the following items display on the page's Action Bar:

Details	Displays the following: On the Deposits tab, it displays the Bank Account Deposit Detail page which shows the individual receipts associated with a deposit. On the Payroll Payments tab, it displays the Bank Account Payroll Payment Detail page which shows all cashable check and direct deposit records.
Purge	Removes all transaction records from an incomplete reconciliation. This allows you to restart the process, provided you have not used the Reconcile item.
Insert Row	Add a record for the selected tab.
Delete Row	Remove a record for the selected tab.
Save	Saves all records in an incomplete reconciliation, enabling you to interrupt the process and complete it later.
Reconcile	Posts a reconciliation. Posting has the following effects: Saves the reconciliation in its current state. Selects the Complete checkbox in the Interest/Fees section, indicating the reconciliation is complete. You cannot access this box once it is selected. Updates each transaction's Clear field with the code R (for Reconciled). Creates journal entries for any interest and fees entered. Prevents changing cleared records in a future reconciliation.
Report	Generates a report on the records currently loaded. Payroll, Payroll Voids, and Summary report options are available.
Search	Displays the Reconciliation Payroll Payments Search which enables you to search for records on the Deposits, A/P Payments, and Payroll Payments tabs.
Bank Account Information	Displays the Bank Account Information page which lists all records for the selected bank account.
Outstanding A/P Checks Reports	Displays the Outstanding Checks Report page.
Outstanding Payroll Checks Report	Displays the Outstanding Checks page. The Outstanding Payroll Check report includes an option to run with an As Of date.

If you have records loaded and then click Back, the system displays a warning.

Click Yes to quit and return to the Bank Account field.
Click No to return to the Bank Account Reconciliation page. If desired, you can use Save to save your records as a file, and then click Back to quit.

Reconcile a Checking Account

Provided the Bank Account Information table contains valid Budget Unit values, Interest and Fees journal entries are created when the reconciliation is completed and marked as reconciled.

The Starting Transaction Date page only displays for your first reconciliation. Future loads include transactions from the statement period, as well as all uncleared transactions from the original starting date through the statement start date. This depends on whether the Include Outstanding Checks field is selected. Refer to the next step for additional details.

We recommend using Post Cleared Vendor Checks in Fund Accounting or Post Cleared Checks in Human Resources to clear all checks prior to starting the reconciliation.

Checks pull into the reconciliation already selected as cleared, which avoids re-clearing if you must purge the reconciliation.

In the Bank Statement Information and Interest/Fees sections, complete the fields.
Click OK.
- If a reconciliation file already exists, the file's records load immediately. Proceed to Step 6.
- If this is the first time you are using the Bank Account Reconciliation option, the Starting Transaction Date dialog displays. Proceed to Step 5.
In the Starting Transaction Date page (if applicable), complete the following fields:
- Starting Transaction Date - You may accept or change the default, which is set in the Statement Begin Date field.
- Include Outstanding Checks - If this box is selected (default), the system also loads all uncleared transactions from the original Starting Transaction Date through the Statement End Date.
  If you clear the box, the system only loads records from the statement's start date through its end date.
Click OK to load your records.
When the system completes the load, you can access the tabs. If no records are available for any of the tabs, click OK to proceed.
Reconcile your account by clearing transactions in the Deposits, A/P Payments, Journal Entries, Payroll Payments, and Payroll Voids tabs. The following are the functions you can perform as part of the reconciliation process:
- To advance from one tab to the next, click OK. You can return to a tab at any time.
- To clear a record in the tabs, select the item's Clear checkbox.
- To correct a difference between your records and the bank statement, enter a credit or debit in the Adjustments tab. This only affects the reconciliation, not your actual records. You should make note of these discrepancies and resolve them in accordance with your usual practices.
- To save your records as a file, choose Save on the action bar, then click Yes. To reload the file and resume the process, enter the file's bank account number and statement dates.
- To quit without saving your entries, click Back, then click Yes.
- To delete all records for the current reconciliation, choose Purge, then click Yes. This deletes the contents of a reconciliation file but does not affect the records themselves.
- To complete a reconciliation, choose Reconcile, then click Yes. This updates the Cleared field in the Transaction table for all cleared records with an R (for Reconciled). It also places a checkmark in the reconciliation file's Complete field and creates journal entries for any interest and fees.
- To generate a report on your reconciliation records, choose Report.

Generate the Bank Account Reconciliation Report

You can generate a report at any time during the reconciliation process.

Click Report on the action bar to display the Bank Account Reconciliation Report page.
In the Report Criteria section, the checkboxes are selected by default. To prevent a type of record from being included, clear the appropriate checkbox:
- Include Deposits
- Include A/P Payments
- Include Journal Entries
- Include Adjustments
- Include A/P Voids
- Include Payroll Payments
- Include Payroll Voids
- Reconciliation Summary Page
In the Item Types field, select:
- A - All to include all transactions whether cleared/corrected or uncleared/uncorrected.
- C - Cleared/Corrected Items Only to include transactions that are cleared and adjustments marked as corrected.
- U - Uncleared/Uncorrected Items Only to include transactions that are uncleared and adjustments marked as uncorrected.
Click OK.
Specify how to generate the report, then click OK. The report's default file name is bnkacctrcn.rpt.

Fields

Bank Statement Information Section

All fields in this section are required. The information requested should be entered as shown on your bank statement.

Field	Description
Bank Account	Number identifying the checking account being reconciled. The field's drop-down list includes the accounts set up in the Bank Account Information table. This table contains a separate record for each Fund/Account combination associated with a bank account. The system uses the account you select to identify and load the appropriate deposits, checks, and journal entries. The account number also identifies the Fund/Account combinations for the journal entries created for interest and fees when you use the Action Bar's Reconcile item. For details, refer to the descriptions of the fields in the Interest/Fees section.
Statement Begin Date	Starting date of the statement period. For an initial reconciliation, enter the begin date from your bank statement. If an unreconciled file exists for this bank account, the system defaults the file's begin date. If a previous file was reconciled and no unreconciled files exist, the system defaults a date one day greater than the end date of the last file reconciled. You can replace the default date if needed.
Statement End Date	Ending date of the statement period. If this is your first reconciliation, enter the statement's ending date. If an unreconciled file exists for this bank account, the system defaults the file's end date. If a previous file was reconciled and no unreconciled files exist, the system adds 30 days to the end date of the last file reconciled. If needed, you can replace the default date in these last two cases.
Beginning Balance	Account balance on the first date of the statement period. If a file exists for the statement begin/end dates entered, its beginning balance defaults. You may change this if needed. Otherwise, the field defaults to zero. Enter the statement's beginning balance.
Ending Balance	Account balance on the end date of the statement period. If a file exists for the statement begin/end dates entered, its ending balance defaults. You may change this if needed. Otherwise, the field defaults to zero. Enter the statement's ending balance. This value helps determine the reconciliation balance, as displayed in the Uncleared Amounts section's Difference field: Difference = Beginning Balance - Ending Balance
General Ledger Fiscal Year	Enter the fiscal year for the general ledger. If the Fiscal Year is greater than the Fund Accounting Profile Prior Year, we recommend you run the Interim Close to ensure an accurate general ledger value.
General Ledger Period	Enter the period for the general ledger.

Interest Or Fees Section

All fields in this section are required, except the Complete checkbox. The system checks this field when you finish a reconciliation.

Field	Description
Date	Transaction date for clearing checks. This date is also used for journal entries generated for interest and fees, if any. The default is from the Fund Accounting Profile's Transaction Date field. You may enter another date if needed.
Period	Accounting period for journal entries generated for any interest and fees. The system defaults the current period, as set in the Fund Accounting Profile. You may change this if needed.
Year	Fiscal year to use for journal entries generated for interest and fees. The system defaults the current year, as set in the Fund Accounting Profile. You may change the default but only to the previous year, in which case you must set the Period field to period 13.
Interest Earned	Amount of interest earned by the checking account, as shown on your statement. If the account does not earn interest, leave the field at its zero default. When you complete a reconciliation, the system generates a journal entry for the interest entered here. The system credits the revenue account that applies, as determined by the record in the Bank Account Information table that references your bank account and has its Interest field selected.
Fees Charged	Total fees for account maintenance, returned checks, and other services, as shown on your statement. If no fees apply, leave the field at its zero default. When you complete a reconciliation, the system generates a journal entry for the fee entered here. The system debits the expenditure account that applies, as determined by the record in the Bank Account Information table that references your bank account and has its Interest field selected. The fee is debited against the Cash account in the Fund Accounting Profile.
Complete	Checkbox indicating whether the reconciliation file currently loaded is complete. The system selects the box when you use the Reconcile item to finish a reconciliation. If you retrieve the file later, the box will be selected, and you will not be able to change the records displayed.

Other Information Section

Field	Description
General Ledger Balance as of	Displays the value from the Statement End Date field entered in the Bank Statement Information section.
Difference between GL Cash Balance and Statement Book Balance	Displays the value from the difference between the Statement End Date and Book Balance.

Transaction Totals Section

This display-only section provides totals of the transaction records in the Deposits, Payments, Payroll Payments, and Journal Entries tabs. The section's Ending Balance field defaults the balance from the Bank Statement Information section, while the Book Balance field applies any remaining deposits, payments, and journal entries against the ending balance. These totals do not change as you reconcile your checking account.

Field	Description
Deposits	Total of the deposits loaded in the Deposits tab.
A/P Payments	Total of the checks loaded in the Payments tab.
Payroll Payments	Total of the payroll checks and vouchers loaded in the Payroll Payments tab.
Journal Entries	Total balance of the debits and credits loaded in the Journal Entries tab: Balance = Total Credits - Total Debits
Book Balance	Balance after the remaining deposits, payments, and journal entries are calculated against the ending balance: Book Balance = Ending Balance + Remaining Deposits - Remaining Payments + Remaining Journal Entries
Bank Ending Balance	Checking account balance, as entered in the Ending Balance field. This should match the balance shown on your bank statement.

Cleared Amounts Section

This display-only section maintains running totals of the transactions you cleared. The transaction amounts are added to or subtracted from the Beginning Balance to determine the value in the Reconciled Ending Balance field.

Field	Description
Bank Beginning Balance	Account balance entered in the Bank Statement Information section's Beginning Balance field.
Deposits	Total of the deposits cleared in the Deposits tab.
A/P Payments	Total of the checks cleared in the Payments tab.
Payroll Payments	Total of the payroll checks and vouchers cleared in the Payroll Payments tab.
Journal Entries	Total of the credits and debits cleared in the Journal Entries tab. The total debits are subtracted from the total credits to determine this value.
Adjustments Debits	Total of the debits in the Adjustments tab that are marked as corrected.
Adjustments Credits	Total of the credits in the Adjustments tab that are marked as corrected.
Interest Earned	Interest amount entered in the Interest/Fees section's Interest Earned field.
Fees Charged	Fee amount entered in the Interest/Fees section's Fees Charged field.
Reconciled Ending Balance	System-calculated value determined by the following equation: Reconciled Ending Balance = Bank Beginning Balance + Cleared Deposits - Cleared Payments + Cleared Journal Entries - Corrected Debit Adjustments + Corrected Credit Adjustments + Interest Earned - Fees Charged

Uncleared Amounts Section

This display-only section provides a running total of the uncleared amounts remaining in the Deposits, Payments, Payroll Payments, and Journal Entries tabs.

Field	Description
Deposits	Total of the deposit amounts in the Deposits tab that have not been cleared.
A/P Payments	Total of the check amounts in the Payments tab that have not been cleared.
Payroll Payments	Total of the payroll check and voucher amounts in the Payroll Payments tab that have not been cleared.
Journal Entries	Total of the credits and debits in the Journal Entries tab that have not been cleared.
Difference	System-calculated valued determined by the following equation: Difference = Bank Ending Balance - Reconciled Ending Balance