Bank Reconciliation Entry

The Bank Reconciliation Entry screen is used to reconcile the company accounts with bank records. It is also used to enter banking transactions such as service fees.

  • When tracking your bank balance using this screen, the total deductions should agree with the total dollars subtracted from your bank statement. You will not be allowed to update the bank reconciliation until the statement is in balance (difference between calculated and actual ending statement balance equals zero).

  • After the Payroll Update is run, auto deposit amounts from the pay cycle show up on this screen as withdrawal transactions. These transactions display as Computer checks. At most, a single record is added across all auto deposits for all employees processed during the update, and if no auto deposit checks were paid, then no record is added here for the auto deposit total.

  • If the statement G/L date is before the check void G/L date, the screen will show the full void amount. If the statement G/L date is after the check void G/L date the screen will show zero.

    Tip: When clearing checks, use the Space bar to select reconciled checks quickly. Or you can use the mouse to select one check at a time. If your bank can provide you with a monthly reconciled check file, you can utilize the Clearing Data File Import feature.