Bank Reconciliation

A company's General Ledger cash account contains a record of the transactions, such as checks written and receipts from customers, that involve its checking account. Banks also maintain a record of the company's checking account when it processes the company's checks, deposits, service charges, and other items. Banks generally send a monthly bank statement to the company listing the account activity and balance.

The bank reconciliation process in Deacom involves an analysis and, if necessary, adjustment of any differences between a company's bank balance and the company's own accounting records for a particular point in time. Differences may occur for a number of reasons such as a series of checks that have been issued by the company but not yet presented to the bank or situations in which bank charges have not yet been recorded in the company's books. Bank reconciliations should be performed at frequent intervals in order to identify and resolve differences in a timely manner. Bank reconciliations also provide additional benefits such as helping to reduce accounting errors, assisting with the identification of missing purchases and sales invoices, and keeping track of checks that have been cashed verses those that are outstanding or in transit.

The bank reconciliation pre-filter in Deacom is used to determine the checks for a given date range that will be considered in the reconciliation process.
The bank reconciliation contains only check activity and journal entries. It does not include inventory, job, sales order or purchase order transaction activity.
The Payment Type Name (c3_name) that the payment was made with is available to the Bank Reconciliation report grid.

System Navigation

Accounting > Bank Reconciliation

Bank Reconciliation pre-filter

Field	Description
Report Type	Pick list used to determine the type of report generated. Currently, the only choice is Standard.
View	Pick list used to determine the status of the checks which are shown in the generated report. Options are: Cleared - Displays only checks which have been cleared. Non-Cleared - Displays only checks which have not yet been cleared.
Date Based On	Pick list used to determine the check property of the Start Date and End Date. Options are: Cleared Date Transaction Date
Start Date	If a date is selected, only checks with the "Date Based On" property dated on or after the selected date are displayed in the generated report.
End Date	If a date is selected, only checks with the "Date Based On" property dated on or before the selected date are displayed in the generated report.
Cash Account	Search field used to select a Cash Account. If selected, only checks from the account are displayed in the generated report.
Currency	Search field used to select a Currency. If selected, only checks with the selected currency type are displayed in the generated report.
Clear Date	Select the date to use to mark checks in the Bank Reconciliation report as "cleared".
Deposit Number	Text field used to select checks associated with the entered Deposit Number.

Bank Reconciliation report

Opened via the "View" button on the Bank Reconciliation pre-filter.

Button/Field	Description
Save	If clicked, commits any changes that were made and removes any checks that were marked as "Cleared" from the list.
Clear All	If clicked, marks all checks displayed in the grid as "Cleared" (populates the "Cleared" column with the date entered in the "Clear Date" field.
Un-Clear All	If clicked, marks all the checks displayed in the grid as "Not Cleared" (removes the dates displayed in the "Cleared" column).
Clear Range	If clicked, displays the Check Range form, which contains a "Starting" and "Ending" field, and is used to enter the range of check numbers to clear.
Clear Date	The date selected is populated in the "Cleared" column when selecting which checks to clear. Populates based on the "Clear Date" selected in the Bank Reconciliation pre-filter.
View	Pick list used to determine the types of checks displayed in the grid. Options are: AP AR All Journal Entries
Statement Balance	Numerical field used to manually enter the ending balance that is indicated on the bank statement.
Total Open DR	Display only. Shows the total un-cleared debits.
Total Open CR	Display only. Shows the total un-cleared credits.
Adjusted Balance	Display only. Calculates as the difference between the bank statement and what entries are still in Deacom. Equal to (Total Open DR - Total Open CR + Statement Balance). The adjusted balance is what your balance will be when the open checks or receipts are cleared. If users notice entries on the bank statement that are not in Deacom, additional research is required for these entries. If necessary, Journal Entries may be used to add entries on the bank statement which should be in Deacom.
Cash Account Balance	Displays the balance of the selected cash account for the time frame of the beginning of the fiscal year to the "End Date" specified on the pre-filter. This amount is the same as the "Net" balance on the Trial Balance report.
Cash Variance	Displays a the value of the "Adjusted Balance" field minus the "Cash Account Balance" field. The value in this field updates any time a record in the grid is cleared or un-cleared and the Adjusted Balance and Total Open DR or Total Open CR variables are updated.