Automatic Bank Reconciliation

To access this form, select a Reconciliation ID on the Bank Reconciliation page

For automated reconciliations, use this form to balance the unmatched withdrawals and deposits, verify the matched withdrawals and deposits, and correct other suspense items using the Suspense Items tab.

Bank Reconciliation Summary

The top portion of the form features a summary of the various items included in the reconciliation.

The Bank Statement Balance and Bank Feed Start Date fields can be edited by clicking the links under the Totals section in the upper right of the page. Locked reconciliations cannot be edited.

Unreconciled Difference

Once the Bank Balance is entered, the system calculates the unreconciled difference. The cash account is reconciled when this amount is 0.00. The Unreconciled Difference adjusts after each entry.

Bank Reconciliation Tabs

The lower portion of the form features individual tabs where you can select items that have cleared the bank statement. Click on a tab to see its details.

Unmatched Withdrawals
Matched Withdrawals
Unmatched Deposits
Matched Deposits
Suspense Items
All MIP Items

Unmatched Withdrawals Tab

This tab is open by default when you open any Bank Reconciliation Record Form page. To return to it from any other tab, click Unmatched Withdrawals on the tab bar in the middle of the Bank Reconciliation Record form.

The Unmatched Withdrawals tab displays withdrawals during the date range set for your bank reconciliation that were unable to be automatically matched. On this tab you can manually match the withdrawals in order to clear them from the tab. They will then appear on the Matched Withdrawals tab to be accepted.

The withdrawals on this tab include checks, vouchers, cash disbursements, etc. They also will include voids and reversals.

Sort All Transactions: Use the Sort All Transactions By field to set how the matched withdrawals will appear. You can sort by Descending Date, Ascending Date, Descending Amount, or Ascending Amount.

Search All Transaction: Use the Search field to search for a specific transaction.

Bank Statement Transactions: Transactions pulled into MIP direct from your organization's connected bank account.

Transaction Date	The date the bank recorded the transaction.
Payee	The recipient of the payment noted on the bank transaction.
Check Number	The check number as noted on the bank transaction.
Description	A description of the payment from the bank transaction.

MIP Transactions: Transactions accounted for elsewhere in MIP.

Document Date	The date the transaction was recorded in MIP.
Payee	The recipient of the payment noted in MIP.
Document Number	The document number of the payment from MIP.
Description	A description of the payment from MIP.

Match Items: Click the Match Items button to clear selected transactions from the page and add them to the Matched Withdrawals page to accept.

Note: Bank Statement Transactions are added to MIP direct from your organization's connected bank and account for weekends and bank holidays so the transaction date may differ from the document date.

Matched Withdrawals Tab

This tab opens when you click Matched Withdrawals on the tab bar in the middle of the Bank Reconciliation Record form.

The Matched Withdrawals tab displays withdrawals during the date range set for your bank reconciliation that were able to be automatically matched or were manually matched on the Unmatched Withdrawals tab. From this tab, you can either Accept or Reject the matches to clear them from the bank reconciliation.

Search All Transaction: Use the Search field to search for a specific transaction.

Bank Statement Transactions: Transactions pulled into MIP direct from your organization's connected bank account.

Transaction Date	The date the bank recorded the transaction.
Payee	The recipient of the payment noted on the bank transaction.
Check Number	The check number as noted on the bank transaction.
Description	A description of the payment from the bank transaction.

MIP Transactions: Transactions accounted for elsewhere in MIP.

Document Date	The date the transaction was recorded in MIP.
Payee	The recipient of the payment noted in MIP.
Document Number	The document number of the payment from MIP.
Description	A description of the payment from MIP.

Accept: Click the Accept button next to a matched withdrawal to accept the match and clear it from the reconciliation. You can also click the Accept All button to accept all matched withdrawals and clear the entire page.

Reject: Click the Reject button next to a matched withdrawal to reject the match and move it back to the Unmatched Withdrawals tab for further review. You can also click the Reject All button to reject all withdrawals and review them again on the Unmatched Withdrawals tab.

Unmatched Deposits Tab

This tab opens when you click Unmatched Deposits on the tab bar in the middle of the Bank Reconciliation Record form.

The Unmatched Deposits tab displays deposits made during the date range set for your bank reconciliation that were unable to be automatically matched. On this tab you can manually match the deposits in order to clear them from the tab. They will then appear on the Matched Deposits tab to be accepted.

Sort All Transactions: Use the Sort All Transactions By field to set how the unmatched deposits will appear. You can sort by Descending Date, Ascending Date, Descending Amount, or Ascending Amount.

Search All Transaction: Use the Search field to search for a specific transaction.

Bank Statement Transactions: Transactions pulled into MIP direct from your organization's connected bank account.

Transaction Date	The date the bank recorded the transaction.
Payee	The recipient of the payment noted on the bank transaction.
Description	A description of the payment from the bank transaction.

MIP Transactions: Transactions accounted for elsewhere in MIP.

Deposit Number	The deposit number for the deposit. Click the Deposit Number to view the Deposit Detail.
Document Date	The date the deposit was recorded in MIP.

Match Items: Click the Match Items button to clear selected transactions from the page and add them to the Matched Deposits page to accept.

Deposit Detail

The Deposit Detail window opens when you click on the Deposit Number.

Use this form to view the associated detail records for the deposit number selected on the Unmatched Deposits tab.

Document Number	The document number entered during transaction entry.
Amount	The amount of the deposit entered during transaction entry.
Description	A description of the deposit.
Transaction Source	The source of the deposit, such as Customer (C). Note that no source is identified for General Ledger type deposits.
Payee	The name of the recipient of the payment.
Type	The deposit type (Cash Disbursement (CD), Cash Receipts (CR), Accounts Receivable Receipts (ARC)).
Method	The payment method.
Session ID	The session ID assigned to this batch of deposits.
Status	The status of the deposit (Outstanding (OS) or Cleared (CL)).

Matched Deposits Tab

This tab opens when you click Matched Deposits on the tab bar in the middle of the Bank Reconciliation Record form.

The Matched Deposits tab displays deposits during the date range set for your bank reconciliation that were able to be automatically matched or were manually matched on the Unmatched Deposits tab. From this tab, you can either Accept or Reject the matches to clear them from the bank reconciliation.

Sort All Transactions: Use the Sort All Transactions By field to set how the matched deposits will appear. You can sort by Descending Date, Ascending Date, Descending Amount, or Ascending Amount.

Search All Transaction: Use the Search field to search for a specific transaction.

Bank Statement Transactions: Transactions pulled into MIP direct from your organization's connected bank account.

Transaction Date	The date the bank recorded the transaction.
Payee	The recipient of the payment noted on the bank transaction.
Check Number	The check number as noted on the bank transaction.
Description	A description of the payment from the bank transaction.

MIP Transactions: Transactions accounted for elsewhere in MIP.

Deposit Number	The deposit number for the deposit. Click the Deposit Number to view the Deposit Detail.
Document Date	The date the deposit was recorded in MIP.

Accept: Click the Accept button next to a matched deposit to accept the match and clear it from the reconciliation. You can also click the Accept All button to accept all matched deposits and clear the entire page.

Reject: Click the Reject button next to a matched deposit to reject the match and move it back to the Unmatched Deposits tab for further review. You can also click the Reject All button to reject all deposits and review them again on the Unmatched Deposits tab.

Deposit Detail

The Bank Reconciliation Deposit Detail window opens when you click Deposit Number.

Use this form to view the associated detail records for the deposit number selected on the Matched Deposits tab.

Document Number	The document number entered during transaction entry.
Amount	The amount of the deposit entered during transaction entry.
Description	A description of the deposit.
Transaction Source	The source of the deposit, such as Customer (C). Note that no source is identified for General Ledger type deposits.
Payee	The name of the recipient of the payment.
Type	The deposit type (Cash Disbursement (CD), Cash Receipts (CR), Accounts Receivable Receipts (ARC)).
Method	The payment method.
Session ID	The session ID assigned to this batch of deposits.
Status	The status of the deposit (Outstanding (OS) or Cleared (CL)).

Suspense Items Tab

This tab opens when you click Suspense Items on the tab bar in the middle of the Bank Reconciliation Record form.

Use this tab to manually enter and delete suspense items. Suspense items are reconciling items that typically are not entered as a transaction—a bank error, for example. Since the bank error is a reconciling item, only enter it on this tab until it is corrected. Do not enter it as a transaction.

Later, in the subsequent reconciliation period, when the error is corrected and no longer a reconciling difference, manually delete it from this tab.

Suspense Items Table

Search	To locate a specific existing document, use the Search box. Begin typing and the Suspense Items Table will begin narrowing the results.
Suspense Number	Enter a unique number for the suspense item for tracking purposes.
Suspense Date	Enter a unique number for the suspense item for tracking purposes.
Amount	Enter the amount of the suspense item (positive or negative).
Description	Enter a description of the suspense item.
Actions	Click the Delete button to remove the suspend item when the error is corrected and is no longer a reconciling difference.

Note: A Suspense Item cannot be entered or deleted if contained in a Locked Reconciliation ID.

List Records: Select how many items per page to display using the drop-down list. You can view items in the table in increments of 10, 20, 50, or 100.

Reset Grid: The Reset Grid button will reset the specific table to its default order. See the Tips and Shortcuts page for more information on reorganizing grids.

All Items Tab

This tab opens when you click All Items on the tab bar in the middle of the Bank Reconciliation Record form.

Use this tab to identify which withdrawals and deposits have cleared the bank and are therefore no longer reconciling items.

All Items Table

Search	To locate a specific existing item, use the Search box. Begin typing and the All Items Table will begin narrowing the results.
Document Number	The document number.
Document Date	The date of the document.
Withdrawals	The amount of withdrawals associated to the document.
Deposits	The amount of deposits associated to the document.
Payee ID	The unique ID that is assigned to this Payee.
Source	The source of the disbursement, such as Employee (E) or Vendor (V). Employee originates from Payroll and Vendor from Accounts Payable. Note that no source is identified for General Ledger type checks.
Type	The type of document, such as a Cash Disbursement (CD) or Voided Check (V). CD represents all posted checks/vouchers and could have been created using the Enter Cash Disbursements, Enter Manual AP Checks, Write Checks, or Pay Selected AP Invoices forms. CD could also represent a check created in the Payroll module. Keep in mind that once a cash disbursement is voided, its type changes from CD to V.
Payment Type	The payment type—either Check or Voucher.
Description	The description of the check/voucher.

List Records: Select how many items per page to display using the drop-down list. You can view items in the table in increments of 10, 20, 50, or 100.

Reset Grid: The Reset Grid button will reset the specific table to its default order. See the Tips and Shortcuts page for more information on reorganizing grids.