Bank Reconciliation for General Ledger
This tutorial is to teach you how to use the Bank Reconciliation program.
PLEASE NOTE: Once you start a bank reconciliation and save it, please use the F7 option to bring the statement back up. In the GL Account box, right click the mouse and select F7. This brings up a list of reconciliations. Select the one you want to work on from this list. If you don’t do this and enter the wrong date in the “Statement Date” field it will create a record that if saved you will not be able to delete. You will need to log a support call to have that record removed.
Creation Date: Jun 24, 2024
- Click General Ledger > Administrative
2. Click Bank Reconciliation
3. Enter the G/L Account by typing, right click and list, or F6 to search
If you have already begun a reconciliation and would like to return to your saved statement to continue, right click and select Statements or press F7.
4. Double click or Select once the account is highlighted
5. Enter the statement date from your bank statement and press enter to expand the fields
When reconciling an account for the first time, this message will appear:
"This GL Account has never been reconciled. Please enter a clearing date for old transactions. All transactions before this date will be marked as cleared. If this is a new account, you can leave the date blank."
It is important to review the date of the oldest outstanding check and enter a date prior to that. Example: if you have an outstanding check dated 1/5, enter 1/1 so that the outstanding check will not be automatically cleared. All items will show to reconcile with your bank statement and it will clear previous items. The first reconciliation may have a lot of detail on it to clear.
6. Enter the Prior Statement Date
Enter in the prior statement date which is usually the end of the previous month if this is the first time doing the bank reconciliation. Otherwise it will automatically come up. Once you do this your transactions will populate the grid below. Note: The items in the different tabs will include deposits/checks from the specified statement periods AS WELL AS any un-reconciled items from prior periods.
7. Enter your ending balance from your bank statement in the Balance per Bank field.
The prior Balance per Bank should be the same as your beginning balance from your bank statement.
8. Deposits: check off all cleared deposits from the bank statement
When you have checked off all your cleared deposits the remaining deposits that have not cleared will remain and will show in Deposits in Transit.
9. WARNING: Clicking the header for the checkbox column will select/unselect all. Please use caution, as you could lose progress if it is clicked accidentally.
10. A/P Checks: check off all cleared checks from the bank statement
When you have checked your cleared checks the remaining AP checks that have not cleared will remain and will show in Outstanding A/P. Note: Voided checks will not appear.
The Outstanding Payroll field should not have any detail in it as DockMaster does not have a payroll module.
11. Journal Vouchers: check off all cleared journal entries from the bank statement
When you have checked off all your cleared journal vouchers the remaining journal vouchers not cleared will remain and will showing in Outstanding JV’S field.
12. Other Activity: this tab should be blank
If there is a line under this tab, then something has accidentally been posted to the bank account (ex. An A/R charge). If there is something, you will need to find and correct the item.
13. Working Adjustments: this tab is for any bank charges that need an entry created
Click in the amount line and enter the amount of the bank charge (ex. $50.00), then enter a description (ex. Bank Charges). Please note entries on this tab WILL NOT adjust the general ledger - this is a MEMO TAB ONLY. This is available to help reconcile and/or enter items that are bank errors that will be corrected by the bank in the next month.
You will need to enter the journal transactions through journal transaction entry in order to balance the bank reconciliations. Once you have posted the transaction, remove it from the Working Adjustment tab.
14. Confirm that the difference is ZERO once all transactions have been checked off
15. Check the 'Final' box to verify that all items are checked off and the difference is zero
16. Save
17. When an item is marked as Final, all fields are read-only except for the Layout ID.
The bank rec status can be changed until the accounting period is closed. Once the period is closed, the bank rec is final and can no longer be changed. Press F7 in the G/L Account search field to see all past statements.
