Bank Account Reconciliation - Rapid Clear dialog

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Use the Rapid Clear dialog to quickly enter checks and debits from a printed bank statement. This dialog is available only from the Deposits & Additions tab and the Checks & Payments tab. As you enter amounts in the Rapid Clear dialog, the application looks for potential matches in the corresponding tab in the Reconcile Bank Accounts screen or the Reconcile Impound Bank Accounts screen.

Choose Actions > Reconcile Bank Accounts or Actions > Reconcile Impound Bank Accounts, click the Deposits & Additions tab or the Checks & Payments tab, and then choose Edit > Rapid Clear.

Tabbed pages in this screen

Use the Deposits & Additions tab to enter deposit amounts from your printed statement. If the application finds a deposit for the same amount in the Deposits & Additions tab of the Reconcile Bank Accounts screen or the Reconcile Impound Bank Accounts screen, it will mark the checkbox in the Matched column for that amount.

If the application does not find a match, it will add the transaction amount to the Unmatched statement transactions grid in the Unmatched Transactions tab of the Rapid Clear dialog.

Use the Checks & Payments tab to enter checks and payments from your printed statement. If the application finds a deposit for the same amount in the Checks & Payments tab of the Reconcile Bank Accounts screen or the Reconcile Impound Bank Accounts screen, it will mark the checkbox in the Matched column for that amount.

If the application does not find a match, it will add the transaction amount to the Unmatched statement transactions grid in the Unmatched Transactions tab of the Rapid Clear dialog.

The following data-entry options are available to make data entry faster and easier.

  • Auto increment reference. The application automatically increments numeric references or alphanumeric references that end with a digit by 1 and places the cursor in the Amount field each time you move to a new row.

    Examples:

    Initial reference Subsequent references
    1007 1008, 1009, 1010, etc.
    REF-1 REF-2, REF-3, REF-4, etc.
    PMT PMT, PMT, PMT, etc. (does not increment)
    A-107A A-107A, A-107A, A-107A, etc. (does not increment)
  • Default amount. The application automatically enters the transaction amount if it finds an uncleared transaction with the reference that you enter.

Use the Unmatched Transactions tab to match transactions that were entered in the application with transactions that were entered in the Rapid Clear dialog.

The Unmatched bank account transactions grid includes all unmatched transactions that were entered in the application or that were imported from a spreadsheet. The Unmatched statement transactions grid includes all unmatched transactions that were entered in the Deposits & Additions tab and the Checks & Payments tab of the Rapid Clear dialog.

In the Unmatched bank account transactions grid, mark the checkbox for each transaction that you want to match, and then mark the checkbox for the matching transaction in the Unmatched statement transactions grid. Click the Match button to match the transactions together.

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Related topics

Reconciling bank accounts

Reconciling impound bank accounts

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