Bank Reconciliation Enhancements

  • Updated

The Bank Reconciliation program offers three new features that will be very useful for users.

  1. You can now view any General Ledger Transactions created by the manual entry of a debit or credit to the bank by right clicking on the transaction and choosing “Related GL Transactions”.  If GL transactions were created by the manual entry and the entry was made after this feature went into effect, you will receive the standard Transaction Detail window used throughout the program when viewing related GL transactions.
  2. The Bank Transaction Code used (i.e. CHK, DD) for the record in Bank Reconciliation is now shown as a column in the Bank Reconciliation window.
  3. Users may now create multiple line GL transactions when manually entering Debits and Credits in Bank Reconciliation.  This feature is available whether or not the Bank Transaction Code you choose is set up with an offset account.  Details are shown below.

Bank Reconciliation Debit/Credit Entry

When you choose to enter a Debit or Credit to the Bank in Bank Reconciliation you are now presented with the screen shown below:


If you choose a Bank Transaction Code that does NOT have an offset account assigned you may click the Add/Edit GL Entries Button and add detail lines.  As soon as you click this button the system will automatically populate a line that either debits or credits the GL account attached to the Bank you are on.  You cannot delete or edit this particular line but you can add multiple detail lines to the GL transaction you are creating.

If you choose a Bank Transaction Code that does have an offset account assigned, the system will automatically populate the detail lines based on the Transaction Code setup.  You can change or delete any line except the line associated with the GL cash account and you may add additional lines.

You also have the same import functionality that is available through GL Entry/Edit in the GL Manager.  Just click the TOOLS button and import the information desired.  This feature will be extremely helpful when entering a transaction in Bank Reconciliation to reflect Payroll.  You can now make the entry in Bank Reconciliation and create the entire GL transaction in the same step.  There are typically many GL accounts associated with Payroll so the import feature becomes very handy.

To edit/delete an existing Bank Reconciliation record that was manually entered, double click on the record and a window similar to the following will appear:


If you are editing/deleting a record that used a Bank Transaction Code set up with an offset account and you do not need to change the GL accounts that will be updated, you can edit the Amount field or click the DELETE Button and the system will create the appropriate GL transactions based on the offset account.  If you want to change the GL accounts that will be updated or you are editing/deleting a transaction that uses a code not set up with an offset account and GL transactions are required, click the option to “Add/Edit GL Transactions when Deleting, check this box”.  At a minimum the system will automatically add a Detail line that will update the GL cash account (you may not delete or edit this line).  You can add/edit detail lines from that point.

Note that the system does not go out and find existing GL transactions that may have been created on entry of the transaction.  If you need to know how the original entry updated the GL, right click on the entry prior to opening and choose the “Related GL Transactions” option.

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