Section 1: Overview and Setup Procedures
This section provides students a general overview of the features and benefits of using the Bank Reconciliation in an integrated environment. It also elaborates on the setup procedures for Bank Reconciliation, and the customization options available to reflect the way your organization does business. This section also discusses entering beginning balances for each checkbook in preparation for using Bank Reconciliation.
Features and Benefits
Bank Reconciliation Setup
Transfer Existing Checkbooks to Bank Reconciliation
Lab 1: Bank Reconciliation Setup
Lab 2: Checkbook Setup
Section 2: Daily Procedures
This section explains the ways that transactions can be entered and posted in Bank Reconciliation. It also discusses the different types of transactions, receipts, and deposits that may be entered in Bank Reconciliation. This section also covers how each type of transaction may update the cash account balance in the General Ledger, the checkbook balance in Bank Reconciliation, or both.
Bank Transaction Entry
Entering Checks, Withdrawals and Adjustments
Entering Receipt Transactions
Bank Transfer Entry
Deposits with Receipts
Deposits without Receipts
Clear Unused Receipts
Lab 1: Entering an Outstanding Check
Lab 2: Entering a Check Transaction
Lab 3: Entering a Cash Receipt
Lab 4: Printing a Check
Lab 5: Entering a Bank Transfer
Lab 6: Entering a Deposit with Receipts
Lab 7: Entering a Deposit without Receipts
Section 3: Reconcile Bank Statements
This section discusses the steps that are required to reconcile a checkbook to the bank statement using Bank Reconciliation. This section also covers the process to enter miscellaneous transactions and adjustments during the reconcile process. Additionally, the section covers the transaction posting that occurs during the reconcile process.
Reconciling Bank Statements
Selecting Bank Transactions
Entering Adjustments and Reconcile
Lab 1: Reconciling a Checkbook
Section 4: Maintaining Records
This section covers the functionality available to maintain Bank Reconciliation records. The processes to void transactions, transfers, and deposits are also covered. Additionally, the section covers: the procedure for changing and deleting records, how to remove historical information from Bank Reconciliation, and the effects of removing this type of history. The inquiry windows and some reports that can be generated from Bank Reconciliation are also covered.
Report Options and Printing
Lab 1: Removing History