Getting Started

I am a new user and just entered beginning balances into the system. What do I need to do to perform my first bank reconciliation?

For the month that beginning balances are entered you will have an entry on the Activities>Reconcile Cash Accounts>Other Cash Items tab that represents the Cash balance and will need to be cleared. In order to build history for the items that carry forward from previous months, you will enter all outstanding checks, deposits in transit and other items on the Suspense Tab. These entries should be entered in detail and can be cleared in subsequent months as needed.

I am already a user of the software but recently added the Bank Reconciliation module. What do I need to do to perform my first bank reconciliation?

After adding the module any cash transaction will be recorded in the Bank Reconciliation module. All cash transactions entered prior to the addition of the module will have a cleared status. If you need to show any cash item as outstanding that the system marked cleared prior to the module add, you will need to first determine the cleared date. Use the reports on the Reports>Bank Reconciliation Analysis menu and filter for the check/deposit/other cash item in question. Once you have determined the cleared date, simply open Bank Reconciliation (Activities>Reconcile Cash Accounts) and enter a reconciliation date the same date as the cleared date of the item. On the appropriate tab click View All and clear the item from the cleared items, and then click the Update button.