The check reconciliation program tracks the checks posted from:
Note: This utility does not reconcile other transactions posted
to the Bank G/L account that also appear on the Statement from the
bank, such as bank deposits, journal postings, interest and bank
charge transactions.
Refer to the Bank Reconciliation for details
on clearing more that just posted checks.
When a check is cashed in the Check Reconciliation
utility by assigning in a "Date Cashed", it is moved from the
Outstanding Check file to the Cashed Check file.
The checks are then held in Cashed Checks file until they are
deleted. The deletion option is provided after printing the
Cashed Checks Report.
Click the CASHED CHECKS button at the bottom of this
screen to review a list of the Cashed Checks.
There will be transactions on the Bank statement not yet posted
to the G/L Bank.
Examine the bank statement for any items, such as bank loans,
service charges, or interest that have NOT already been posted.
The Bank statement can be compared to the Trial Balance Detail report for the same ending
date, to determine which outstanding items still need to be
posted.
Enter these additional transaction using Miscellaneous G/L Journals and post using Post Miscellaneous Journals.
Note: The Bank Reconciliation also
updates the check status.
When the Bank Reconciliation utility is used
to agree the monthly bank statement with all the transactions
posted to the G/L bank account and a statement is balanced and
"Finalized", the Check Reconciliation is also updated moving
any reconciled checks from Outstanding
Checks to Cashed Checks.
The prompt to reconcile the cashed Checks are:
If there are multiple checks with the same check number, they
are distinguished by the sequence number.
Click the EXP/CON button or press <F9> to
expand the check records to view any details that were entered for
the check.
Note: Cashed Check can be used to correct any checks marked and accepted as cashed in error, by removing the Date Cashed.
Posting Control
The Check Reconciliation program is designed to be run by
one operator at a time and not at the same time as Reverse Posted A/P Checks.
Locking will occur if an operator did not exit one of these posting
programs correctly.
A Posting Control Information warning
will appear on the screen and only operators with Security Role permission to reset the Check
Reconciliation or Reverse A/P Checks flag will have access to
the RESET button that unlocks the programs.
Whenever the posting control flag for Check Reconciliation or
Reverse Posted A/P Checks is reset, record
is written to the Delete Log for the
Function APAC04A.
ACTIONS:
Additional actions provided by buttons on
the Check Reconciliation screen include:
Print a List of Cashed Checks:
Click the CASHED
CHECKS button at the bottom of this screen to review a list
of the Cashed Checks as outlined in Cashed
Checks.
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