Reconcile Impound Bank Accounts > Checks & Payments tab

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Our Support department is closed on Friday, April 28th for a company event. However, limited Accounting CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline for quarterly payroll tax forms.

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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 impound bank account. Use this tab to clear these transactions.

Choose Actions > Reconcile Impound 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.

This 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adjustment amounts back to the general ledger because these errors do not usually result in money being deposited in or withdrawn from the bank account.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.

You can customize the Checks & Payments grid to fit your needs.

  • You can adjust the width of the columns.
  • You can change the order of the columns by dragging and dropping the column heading to the desired location.

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 on the General Information tab in the Statement Information section.
  • Checks & 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).

Related topics

Reconciling impound bank accounts

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