Check Reconciliation

The check reconciliation program tracks the checks posted from:

• Post G/L Manual Checks
• Post G/L Computer Checks
• Print A/P Check Register & Post

  Note: This utility does not reconcile other transactions posted to the Bank G/L account that also appear on the Statement from the bank, such as bank deposits, journal postings, interest and bank charge transactions.
  Refer to the Bank Reconciliation for details on clearing more that just posted checks.

Work Flow:

When checks are posted, a record for each check is written to the Outstanding Checks file.
The check records are held in the Outstanding Check file until they are dated as cashed in this Check Reconciliation utility.
Click the O/S CHECKS button at the bottom of this screen to review a list of the Outstanding Checks.

When a check is cashed in the Check Reconciliation utility by assigning in a "Date Cashed", it is moved from the Outstanding Check file to the Cashed Check file.
The checks are then held in Cashed Checks file until they are deleted. The deletion option is provided after printing the Cashed Checks Report.
Click the CASHED CHECKS button at the bottom of this screen to review a list of the Cashed Checks.

There will be transactions on the Bank statement not yet posted to the G/L Bank.
Examine the bank statement for any items, such as bank loans, service charges, or interest that have NOT already been posted.
The Bank statement can be compared to the Trial Balance Detail report for the same ending date, to determine which outstanding items still need to be posted.
Enter these additional transaction using Miscellaneous G/L Journals and post using Post Miscellaneous Journals.

Note: The Bank Reconciliation also updates the check status.
When the Bank Reconciliation utility is used to agree the monthly bank statement with all the transactions posted to the G/L bank account and a statement is balanced and "Finalized", the Check Reconciliation is also updated moving any reconciled checks from Outstanding Checks to Cashed Checks.

The prompt to reconcile the cashed Checks are:

BANK ACCOUNT
Enter the G/L account number for the Bank that is to be reconciled, or select it from the window.
This bank account number can be viewed in Outstanding Checks and is printed on the Outstanding Check Report.

Resulting Uncashed Checks List:

All uncashed checks that were written for this bank account are displayed in check number order, with the Check#, Payee, Amount, and Check Date.
This report reflects the 'Alternate Payee' if defined for a Vendor in the Alternate Pay To Information.

If there are multiple checks with the same check number, they are distinguished by the sequence number.
Click the EXP/CON button or press <F9> to expand the check records to view any details that were entered for the check.

DATE CASHED

To mark checks as cashed, enter the date cashed for each check that has been cashed.

Finished?

When all checks that have been cashed, have been assigned a Date Cashed, click the ACCEPT button twice (once to accept the last line and once to accept the paging screen).

Confirmation Screen

Select one of the following options:

• Select Process the Details to accept the cash dates of the checks as entered, and exit the reconciliation screen.
• Select Return to Details to return to the list of checks on the paging screen, to further add or change dates.
• Select Abort Changes to abort the process, and to exit the check reconciliation screen without accepting any dates entered.

Note: Cashed Check can be used to correct any checks marked and accepted as cashed in error, by removing the Date Cashed.

Posting Control
The Check Reconciliation program is designed to be run by one operator at a time and not at the same time as Reverse Posted A/P Checks.
Locking will occur if an operator did not exit one of these posting programs correctly.
A Posting Control Information warning will appear on the screen and only operators with Security Role permission to reset the Check Reconciliation or Reverse A/P Checks flag will have access to the RESET button that unlocks the programs.
Whenever the posting control flag for Check Reconciliation or Reverse Posted A/P Checks is reset, record is written to the Delete Log for the Function APAC04A.

ACTIONS:
Additional actions provided by buttons on the Check Reconciliation screen include:

• Print a List of Uncashed Checks:
  Click the O/S CHECKS button at the bottom of this screen to review a list of the Outstanding Checks as outlined in Outstanding Checks.

• Print a List of Cashed Checks:
  Click the CASHED CHECKS button at the bottom of this screen to review a list of the Cashed Checks as outlined in Cashed Checks.