The following describes how to perform a manual reconciliation of Cash book bank transactions from a bank statement.
- Select the Work with Cash book reconciliation menu item.
- You access Work with Cash book reconciliation, Open transactions. Select the bank, in the field at the bottom part of the panel, to which you have posted the payment you are using and click OK.
- You remain on the same panel now showing all the transactions for this bank. Tip: Set the Open field to YES or NO to switch between open and reconciled transactions. Select the applicable transaction and click Reconcile.
- You access Work with Cash book reconciliation, Reconcile. The following fields apply:
- Reconciled amount
- The open amount for the selected transaction is defaulted, but you can change it. If you change the amount here, four different situations apply:
- If both Tolerance % and Tolerance amount are left blank in Work with banks, reconciliation with difference will not be allowed.
- If there is a value entered for Tolerance % in Work with banks and if the value of the entered difference is less than or equal to the allowed tolerance value, then reconciliation with difference will be allowed.
- If there is a value entered for Tolerance amount in Work with banks and if the value of the entered difference is less than or equal to the allowed tolerance value, then reconciliation with difference will be allowed.
- If the currency for the bank, defined in Work with banks, is not equal to the currency for the transaction, reconciliation with difference will not be allowed.
- Reconciliation date
- Today’s date will be defaulted. If you change the date it cannot be a future date or a date earlier than the document date.
- Statement number
- Mandatory entry. The statement number you enter here will be a default value for the subsequent reconciliation transactions until you enter a new one.
Tip: Click Related documents to view the related A/P documents for the selected Cash book transaction. Here, click Confirm to confirm the reconciliation. Note: If you are confirming a Cash book entry which is coming from Work with A/P payment proposals and is found in the cheque inventory, then the related cheque transaction is changed to status (Cleared) in the cheque inventory and the Cleared date field is set to the Value date. Exit the routine.