Bank Reconciliation Report

Reports

Bank reconciliation is the process of systematically comparing the cash balance as reported by the bank with the cash balance on the organization's books and explaining any difference. Use the Bank Reconciliation Report to check the account balances for Cash, Accounts Receivable, and Payables.

After you finish the bank reconciliation, follow these instructions to print out the bank reconciliation.

Printing a bank reconciliation report now

1. Finish the steps to complete Reconcile Bank Accounts.

2. Click Print (CTRL+P) before you exit the routine. Use the Print menu to select Bank Reconciliation (CTRL+Shift+F6).

3. Set up the options on the Bank Reconciliation Report to select the reconciliation period and bank.

4. Then, click Print (CTRL+P) to run the report.

The report prints.

Options

Printing a bank reconciliation report later

Use these instructions when the bank reconciliation is finished and you need to print the bank reconciliation report on its own.

Do this...

1. Open Connect General Ledger > Reports > Bank Reconciliation Report.

2. Select a report title.

3. Fill in the report options to select the reconciliation period and bank.

4. Click Print (CTRL+P).

The report prints.

Banks

The Banks field lists the banks that you use in the General Ledger application.

Which banks do you wish to include on the bank reconciliation?

Print the bank reconciliation for all banks. Click and drag to select all of the banks in the Banks list.
Let me select the banks to include on the bank reconciliation. Press and hold CTRL, with the button pressed, click on a bank to select it.

Include detail

The detail on the Bank Reconciliation refers to transactions for outstanding deposits, outstanding checks, bank adjustments, and book adjustments.

Do you want to include detail?

Yes, include detail. Click to select Include Detail. If you want to print the detail on a new page, click to select Start Detail on a New Page. If you want to print the detail on the same page, deselect the Start Detail on a New Page. Click to deselect Include Detail.
No, do not include detail.

Report dates

Report Dates is the report date range the report will use to filter transactions.

Do you want to use the current period as the report date range?

Yes, I want to use the current period. Continue to the next step.
No, I want to use a different period. Change the Report Date, or click Advanced Options.

Troubleshooting

If you've reconciled bank statements before, you know that your balance and the bank's balance frequently do not match when you're done. Accounting errors on your part or on the part of the bank are usually to blame.

Troubleshooting missing transactions in General Ledger

If the reconciliation doesn't balance, verify that the cleared deposits and cleared checks totals on the bank statement. If the totals don't match, you need to find the missing item and either record it or clear it.

If you discover items that appear on the bank statement but do not appear in General Ledger, complete the following steps:

1. Determine the source of the missing transaction. For example, should it have come from Payroll, Cash Receipting, or Accounts Payable? Was it a manual check that you entered?

2. Determine if the associated application already contains the missing transactions. If so, run the appropriate Update General Ledger task.

If the transactions are not in the application, enter them using the appropriate entry screens; then update General Ledger.

3. If the transaction is not associated with another Caselle application, you need to enter the transaction directly into General Ledger.

Use the Enter Journals task to record the transaction in a bank-type journal, such as CD or CRJE.

Once the journals contain the appropriate entries, the transactions will appear in the Cleared Deposit Entry or Cleared Check Entry screens in Reconcile Bank Accounts task.

4. Clear the new items in Reconcile Bank Accounts.

Troubleshooting cleared checks that don't balance

If the cleared checks do not balance, check the transaction amounts by printing a list of cleared checks. To do this, complete the following steps:

Do this...

1. Open General Ledger > Reconciliation > Reconcile Bank Accounts.

2. Click the Print button in the toolbar, and select Check List (CTRL+SHIFT+F8) from the drop-down list

3. In the Title drop-down list, select Check List - Summary.

4. Deselect the following checkboxes:

Include Outstanding Checks
Include Checks with Zero Amounts

5. Select the Include Cleared Checks checkbox.

6. In the toolbar, select Print (CTRL+P). You can also select the Print Preview (CTRL+Q) button to view the list on the screen.

7. Click OK.

This printout should look just like the list of checks on your bank statement. Compare this document with your bank statement. You should be able to easily identify any check amounts that differ from one report to the other.

Reconciling statement accounts that don't match reconciliation list amounts

If the checks on your banks statement have different amounts than the checks listed on reconciliation or on the Check List, complete the following steps.

Do this...

1. Determine which amount is correct.

2. If the appropriate amount shown on the statement is correct, go back to the appropriate Caselle Connect application (such as Accounts Payable, Payroll, Cash Receipting, or General Ledger) and correct the transaction amount.

Important! You always make adjustments in the current period.

3. If the amount shown on the reconciliation or checks list is correct, do the following steps:

A. Notify the bank of their error and ask them to correct it on the next month's statement.

B. Record the amount of the bank's correction in the Bank Adjustments field on the Reconcile Bank Accounts screen.

C. If the bank is unwilling to correct the error, make an adjusting entry for the amount of the difference in the CD journal.

If the check is in the current period, use the same reference number but a different sequence number. If the check is from a prior period, use the same reference number and sequence number when entering the adjustment in the current period.

This transaction will show up the bank reconciliation and will need to be cleared along with the other checks and charges.