Bank Account Reconciliation - Initial Open Items dialog

Alerts and notices

Use the Initial Open Items dialog to enter transactions that will not affect the bank account balance but are needed for reconciliation purposes only. In other words, the transactions you enter in this dialog were already accounted for at some point in the account balance, but they are not listed with the other transactions available for clearing in the reconciliation. This dialog is typically used to correct or enter outstanding transactions from previous reconciliations that were completed in your previous accounting application.

Do not use this dialog to add checks or deposits that have never been recorded.

Choose Actions > Reconcile Bank Accounts or Actions > Reconcile Impound Bank Accounts and choose Edit > Initial Open Items.

Fields & buttons

This grid includes all existing initial open items previously entered for this bank account reconciliation or for prior bank reconciliations. Once an initial open item is cleared in a bank account reconciliation, the application clears the item from the grid.

Use this grid to enter information for new open items to be used for reconciliation purposes.

  • Reference. (Optional) Enter up to nine alphanumeric characters to use as a reference for the transaction.
  • Date. (Optional) If you leave this field blank, the application will enter the statement ending date by default.
  • Amount. Enter the amount of the transaction.
  • Type. Select the applicable transaction type from the drop-down list. The transaction type determines where the transaction will be recorded. Check and Payment types will be recorded in the Checks & Payments tab and Deposit and Addition types will be recorded in the Deposits & Additions tab.
  • Description. Enter a description (up to 100 characters) for the transaction.
  • Client Name. (For impound bank account reconciliations only.) Select the client from the drop-down list. The drop-down list includes all clients that have been set up for impound (including the firm client).

Related topics

Reconciling bank accounts

Reconciling impound bank accounts