The bank statement reflects payments that are made from an account. After you reconcile the bank statement with the payment orders made, the reconciled payments are posted to ledger accounts. The unposted transactions must be managed separately. Also, any payments that are rejected by the bank must be resubmitted or voided.

A payment journal line can have a Sent, Received, or Approvedstatus.

After reconciliation, the date of the payment document and the date of the transaction might differ.

  1. Click Bank> Common Forms> Bank Account Detailsto open the Bank accountsform.

  2. Select the bank account to be reconciled.

  3. Click Functions, and then select Account reconciliationto open the Bank account statementform.

  4. Press CTRL+N to create a new line.

  5. Enter information in the Bank account statement date, Bank statement, and Ending balancefields.

    Note Note

    To correctly calculate the end balance for the bank account, the bank statements must be registered in chronological order.

  6. Click Transactionsto open the Account reconciliationform.

  7. On the Unposted operationstab, view the unposted transactions for the bank account in the Opening balance, Ending balance, Unreconciled, Check number, and Amount currencyfields. View the reconciled totals for transactions at the bottom of the form.

    Note Note

    Incoming payments are denoted by a minus sign (-) and outgoing payments are denoted by a plus sign (+).

  8. In the Show transactionsfield, select one of the following options:

    • All– Displays all operations for the bank account (reconciled and unreconciled).

    • Unreconciled– Displays unreconciled operations for the bank account.

    • Reconciled– Displays reconciled operations for the bank account.

  9. Select the Clearedfield for payments that have been reconciled based on the bank statement.

    Note Note

    The status of the payment line changes to Approved. If the Clearedfield is not selected, the status of the payment line changes to Sentfor vendor payments and if the Check numberfield is entered the status of the payment line changes to Sentor Receivedfor customer payments.

  10. In the Datefield, specify the payment date as shown in the bank statement if it is different from the payment order date. This date will be the date of the payment transaction.

  11. Click the Functionsbutton and then select Reconcile accountto reconcile the operation.

    Note Note

    You can select this button only if the sum of starting balance and selected transactions equals the manually entered statement end balance.

  12. Click Functionsand then select Posting. New payment journals for vendors or customers are created and a dialog box with the codes for the new journals opens.

  13. Select the Delete empty journalcheck box to delete the source journal.

  14. Click OKto post the new payment journals.

    Transactions will be generated for an account for writing off or receipt of funds.

  15. Open the Bank account statementform.

  16. In the Viewfield, select Reconciledto view the reconciled bank statement and the date of reconciliation.

  17. In the Account reconciliationform, click Functionsand then select Posting. The unreconciled banking operations that are displayed on the Unposted operationstab will be posted. The reconciliation in this case can be done for posted banking transactions, reflected on the Posted operationstab.

    Note Note

    To post payments through an interim account, activate the Bridging Posting parameter for the method of payment. When the journal is posted, transactions will be generated in accordance with the transit account. To transfer payments from an interim account to a ledger account, click Functionsand then select Select bridged vouchers. A new journal will be generated. After posting the journal, payments will be reflected in the Account reconciliationform on the Posted operationstab and will become accessible to perform bank reconciliations for the posted transactions.

See Also