Reconciling Bank Calculations with Cash Management

A bank statement is not considered reconciled and will not update if the calculated bank statement balance does not equal the entered bank statement balance.

The Force GL balance before next reconciliation check box is available in the Cash Management Installation screen. It ensures the calculated G/L balance equals the actual G/L balance, but because the calculated G/L balance is a function of the calculated bank statement balance, it may be appropriate to clear this option until all of the outstanding checks that existed prior to the Cash Management conversion clear the bank.

Alternatively, any outstanding checks and deposits can be entered as Cash Management transactions, without updating to the General Ledger. In this case, it is appropriate to require that the calculated G/L balance equal the actual G/L balance.

Before you begin to verify any cleared checks or total outstanding deposits, import the check file (or clear it manually), and manually clear any deposits (from the bank statement).