Fix Cleared Amount Discrepancies
You can use the CM Clear Entries form to fix any discrepancies found during the reconciliation process that you do not expect the bank to fix.
You can check the Cleared Totals section of the CM Clear Entries form to review the the total amounts, grouped by category, of the items marked as cleared. This is another aid to determine whether a statement is properly balanced. Most bank statements break down the items into categories similar to those displayed in this section—Checks and Electronic Payments, Deposits, Adjustments, and Transfers—so that you can cross reference the total amounts on the statements with those of the system.
- Follow the procedure in Displaying Outstanding or Cleared Items to populate the CM Clear Entries grid.
- In the Cleared
Amount field, if the actual amount cleared by the bank differs from
the default, enter the actual cleared amount. The line’s color will change to Yellow
to indicate that there is a discrepancy between the transaction’s amount and the
cleared amount. This amount will not change the working balance and totals of the
cleared amounts.Note: If you are not using the standard Windows color scheme, your screen may not show the line color change when there is a discrepancy between the transaction amount and the recorded cleared amount.
- If desired, you can review these discrepancies by printing the CM Differences report, and
- To balance the statement, you can post the total difference in the CM Outstanding Entries form and clear the entry after posting.