Reconcile Bank Accounts > Checks & Payments tab

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The Checks & Payments tab displays information for all checks and other payment-type transactions that have been entered for the selected bank account. Use this tab to clear these transactions.

Choose Actions > Reconcile Bank Accounts and then click the Checks & Payments tab.

Fields & buttons

The Checks & Payments grid includes a Group by field that enables you to group items in the grid. For details, see Grouping items in data-entry grids.

The grid displays information about checks and payments. Use the grid to mark transactions as cleared for this reconciliation.

  • To mark a transaction as cleared, mark the checkbox for the transaction row, or enter an amount in the Clear For column.
  • To mark all transactions as cleared, choose Edit > Clear All.
  • To clear the transaction for an amount other than the full transaction amount, enter the applicable amount in the Clear For column. The application displays the difference in the Adjustment column. You can then enter the GL account to which the difference should be applied and an explanation in the Adjustment Description column.

    Note: If the bank makes an error on the statement that was used for the reconciliation, you can select Bank error from the GL Account drop-down list. The application does not write bank error adjustment amounts back to the general ledger because these errors do not usually result in money being deposited in or withdrawn from the bank account. The application records these bank errors in the Balance per Bank Statement section in the Account Summary tab.

  • To view the source transaction for any transaction in the grid, click the blue, hyperlinked amount for that transaction. The application opens that transaction in the Actions > Enter Transactions screen, where you can view details about the original transaction.

You can adjust the width of the columns and/or change the order of the columns (by dragging and dropping the column heading to the desired location) for the Checks & Payments grid.

The Totals row displays the following amounts based on the information entered in the Checks & Payments grid above.

  • Statement amount. Displays the checks and payments amount entered in the General Information tab in the Statement Information section.
  • Selected total. Displays the total amount for the highlighted transactions. To highlight a transaction, click the column to the left of the checkbox for the row. To highlight multiple transactions, press the CTRL or SHIFT key while highlighting the applicable rows.
  • Checks & other payments. Displays the sum of the Amount column in the Checks & Payments grid above.
  • Cleared total. Displays the sum of the Clear For column in the Checks & Payments grid above. When no transactions have been marked as cleared, this field should display $0.00.
  • Adjustment total. Displays the sum of the Adjustment column in the Checks & Payments grid above. When no transactions have been marked as cleared, this field should display $0.00.
  • Unreconciled amount. Displays the difference between the reconciled bank account total (ending statement balance + open deposits & additions - open checks & payments +/- bank errors) and the adjusted period balance (ending period balance +/- adjustments).

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