Clearing transactions during bank account reconciliation

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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.

Links to our most popular payroll tax processing topics are available in the Alerts and notices section on the right side of most pages.

During bank account reconciliation, if you import transactions from a bank statement that you download from your financial institution, Accounting CS automatically matches the imported transactions against those entered in Accounting CS and clears them. If the application was not able to clear some of the imported transactions, or if you are not importing transactions from a downloaded bank statement file, you can manually match and clear the transactions against the transactions listed in your printed or online bank statement.

  1. Choose Actions > Reconcile Bank Accounts.
  2. Select the account to reconcile from the Reconciliations list.
  3. In the General Information tab, enter the applicable information from your bank statement.
  4. If applicable, click the Deposits & Additions tab and/or the Checks & Payments tab, and then clear the applicable transactions.
    • 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 in one step, choose Edit > Clear All.
    • To clear a transaction for an amount other than the full 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. Accounting CS 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adjustment amounts back to the general ledger because these errors do not usually result in money being deposited in or withdrawn from the bank account.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.

  5. If applicable, click the Direct Deposit tab. The grid displays each direct deposit file that has been created for the reconciliation period. To view the direct deposit transactions included in the file, click the + sign next to the file name to expand the list.

    Notes

    • By default, the application marks the Cleared checkbox for each file and clears each transaction within the file.
      • To unclear a transaction, clear the checkbox in the Clr column for that transaction.
      • To unclear all transactions in the grid, choose Edit > Unclear All.
    • The Checks and payments amount in the General Information tab should be equal to the sum of the cleared amounts on the Direct Deposit tab and the the Checks & Payments tab.
  6. Click the Account Summary tab to review the information.
  7. If necessary, complete the additional steps in the Reconciling bank accounts procedure to finalize the bank account reconciliation.

Related topics

Bank account reconciliation workflow

Bank account reconciliation overview

Reconciling bank accounts

Potential reasons that certain transactions are not available to be modified

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