Any bank account which has a C open item indicator on the expense code is available for reconciliation. Each month end, the system will collate all entries marked with a Reconciled or Contra'd flag and consolidate them into a brought forward balance.
To run a Manual bank reconciliation:
From the Autoline master menu select the Nominal Ledger option and the company you require.
Select the Bank & currency options option.
Select the Manual bank reconciliation option.
The Manual Bank reconciliation form is displayed.
Once the user has entered the above menu option, they are presented with a blank form that needs some user input to become populated. The following must be input:
Bank Statement date: This is fairly self-explanatory in that it is dependant on what the date of the statement that the user is reconciling to.
Statement Balance: Again, this is dependant on the physical bank statement, but the rationale is for the user to have a control figure to compare against.
Account: The
button can be used on this field
to show the accounts available. Only bank accounts will
be displayed and will only be able to be entered dependant on user's divisional access and priorities.
Cutoff Date: This field is used when the user is reconciling up to a certain date of transactions i.e. it will not show the transactions that have been posted to the Nominal ledger after the date entered.
At this point the user can enter a Statement Reference but this is optional. The user can also tick the check box entitled Show reconciled items if they want to display previously reconciled items [this may aid the user in reconciling the correct items, especially if there are many items with the same reference and /or amount of money.
By clicking Select the transactions will be loaded into a grid and presented on the form. Alternatively the user can click Cancel if they decide to quit at this point
Cancel: This cancels any action taken so far.
RUN TOTALS [Balance Field]
The totals are automatically loaded at the commencement of reconciliation. Previously reconciled total is the amount for the account selected that has been reconciled prior to the current reconciliation being loaded. The Statement balance will have been brought across from the value entered by the user in the left hand side of the form. The Book value is the value that is currently held in the Nominal Ledger for the selected account. The Difference field is the difference between the previous reconciled and the statement value. The Unreconciled value will correspond to the values in the grid that have not been reconciled. The Run total will be added to or subtracted from each time an item is reconciled or unreconciled.
At this point the user can begin reconciling transactions by either moving the cursor over the relevant line and clicking [this will set the item line to R for reconciled], or right clicking to set the line to Contra reconciled. Clicking once more will unreconcile the item. Using the buttons on the right hand side of the form [Reconcile, Contra, Unreconcile] all have the same effect.
The user can choose to Reconcile All transactions, but this must be done with care as literally all transactions will be set to Reconciled by clicking this button. By clicking View the user can see more detail of the item line to be reconciled.
BUTTONS
The New Journal button is to enable users to insert an NL Journal [Insert NL Journals], without having to exit from the Manual Bank Reconciliation. An example would be if an item needed to be transferred from cash suspense to the bank account- the journal can be posted , the daybook printed and the item will appear in the reconciliation grid immediately.
Clicking the Exit button will return the user to the NL Bank & Currency menu.
The Help button will take the user to the online help topic.
The Criteria button allows the user to search on a specific criteria to avoid having to scroll through pages and pages of transactions. The search criteria fields available are as follows: Reference, Narrative, Suffix, Posting Date and the amount in base currency.[i.e. all the fields available in the reconciliation grid.]
Once all items have been reconciled ,unreconciled or contra'd as necessary, clicking the Process button will update the run totals and effectively save the work that has just been completed. An audit trail is printed.
