Customer Start-Up Procedures:  Bank Reconciliation

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The Bank Reconciliation module can be used as a 'stand-alone' system or integrated with five other modules: Accounts Receivable, Accounts Payable, Freight Payable, Interline Payable or Payroll.

When Bank Reconciliation is used with other modules, computer printed checks, manual checks and deposits processed through these modules are recorded automatically in the Bank Reconciliation files. If Bank Reconciliation is used as a 'stand-alone' system, you must enter all outstanding checks, deposits and adjustments manually before you reconcile the bank statement.

To reconcile the bank statement, you verify cleared checks, deposits and adjustments on the computer. You are then able to print a register which lists all transactions through the cut off date you specify. This register shows the Adjusted Bank Statement Balance, the Calculated Book Balance and the Out Of Balance By amount. This detailed report helps you find any errors and will not update until in balance. Corrections are easily entered to complete the reconciliation.

Once the computer information is reconciled with the bank statement and you have answered yes that the Bank Reconciliation Register is correct, the 'cleared' transactions will automatically purge.

BANK RECONCILIATION FEATURES

CHECK, DEPOSIT AND ADJUSTMENT ENTRY:  These features allow manual entries for transactions not posted automatically through other systems. If Bank Reconciliation is used as a 'stand-alone' system, all transactions will be made through these options.

CLEARING ROUTINES:  You can reconcile your bank account quickly by using the starting and ending check number range to clear checks. Also, as a separate procedure, deposits and adjustments display on a screen enabling you to easily confirm which transactions have cleared.

BANK RECONCILIATION:  This register lists transactions (cleared or not cleared) by bank account and cutoff date. A separate summary page includes the Adjusted Bank Balance, the Calculated Book Balance and Out Of Balance By amounts. This detailed report helps you find errors and will not update until in balance. Once the register is accepted as correct, the computer will automatically purge cleared transactions.

TRANSACTION LISTING:  This option allows you to create your own list of information by date range, bank code range and cleared or not cleared transaction types. A current checkbook balance may be obtained, if all transactions have been entered and you select all default options. A summary page totals data by categories. This listing is informative only and may help you balance your Bank Reconciliation Register or General Ledger System.

BANK CODE FILE: You may have up to 26 separate bank accounts.

BANK RECONCILIATION CONTROL FILE: When Bank Reconciliation is integrated with other etruckingonline.com modules, individual registers from the other modules must be assigned Bank Codes since you may have up to 26 separate bank accounts. This, also, enables the computer to print on the Bank Reconciliation reports which module generated the information in the event that you use only one bank account (i.e. AR=Accounts Receivable, AP=Accounts Payable, FP=Freight Payable, IL=Interline Payable and PR=Payroll).

BANK RECONCILIATION FILE OPTIMIZATION: You can expand all files related to Bank Reconciliation before actually running out of room in the file.

INTEGRATING WITH OTHER MODULES

Bank Reconciliation, when integrated with other modules, allows sharing information which eliminates reentry of data already in the computer.

ACCOUNTS PAYABLE:  All checks processed through the Accounts Payable module (computer printed or manually entered) are automatically recorded in the Bank Reconciliation files.

ACCOUNTS RECEIVABLE:  All deposits updated from the Cash Receipts Register are automatically recorded in the Bank Reconciliation files.

INTERLINE PAYABLE:  All checks processed through the Interline Payable module (computer printed or manually entered) are recorded in the Bank Reconciliation files.

FREIGHT PAYABLE:  All checks processed through the Freight Payable module (computer printed or manually entered) are automatically recorded in the Bank Reconciliation files.

PAYROLL:  All checks processed through the Payroll module (computer printed or manually entered) are automatically recorded in the Bank Reconciliation files.

INFORMATION YOU NEED TO GET STARTED

For each bank account you will need:

1. The last reconciled bank statement, the bank account number, the adjusted bank statement balance and date.
   
   
2. A list of outstanding deposits, adjustments and checks.
   
   
3. If the Bank Reconciliation module is integrated with other systems, you will, also, need to know the corresponding General Ledger Journal Numbers from the integrated systems.

BANK RECONCILIATION STARTING PROCEDURES

The startup process consists of:

1. Setting up the Bank Code File.
   
   
2. Setting up the Bank Reconciliation Control File (Integrated Systems only).
   
   
3. Entering beginning balances for each bank account and all outstanding checks, deposits and adjustments.

CONVERTING FROM YOUR EXISTING SYSTEM

1. For each bank account you want to setup, you will need to manually reconcile the individual bank statements.
   
   
2. Using the Bank Reconciliation module as a 'stand-alone' system requires the set up of one file - Bank Code File Maintenance. The Bank Code File Maintenance program allows you to establish 26 (indicated by letters of the alphabet) separate bank accounts.
   
   
3. If the Bank Reconciliation module is integrated with other packages, the Bank Reconciliation Control File needs to be set up. This file requires General Ledger Journal information.
   
   
4. Enter outstanding checks through Check Entry using N at the CLEARED (Y/N) option.
   
   
5. Enter outstanding deposits and adjustments through Deposit and Adjustment Entry using N at CLEARED (Y/N) option.
   
   
6. Print the Bank Reconciliation Register. If 'Out Of Balance By' is zero and the Calculated Book Balance matches your manually reconciled balance, then the information entered is correct.