Bank Reconciliation
This feature allows the user to reconcile their bank activity in AgencyToday with their bank statements.
To Access Bank Reconciliation:
1. From the Accounting menu, select Bank Reconciliation.
To Process a Reconciliation:
1. The cursor will be flashing in the "Account Number" field. Enter the chart number for the bank account to be reconciled.
2. Click on the CHECKS UN-RECONCILED button to draw a list of the outstanding checks. Use the appropriate date range. The outstanding checks will show in the top right box and the total will show in the "Total Outstanding Checks" field of the Account Balance box. (A report of the outstanding checks may be printed by clicking on the PRINT CHECK LISTING button.)
3. To reconcile the checks, double-click on the cleared checks to remove them. This will update the total of the outstanding checks in the Account Balance box.
4. After reconciling the checks, click on the CHECKS RECONCILED button. Use the same date range as before, to run a listing of the reconciled checks. The system will draw a list, that can then be printed by clicking on the PRINT CHECK LISTING button.
5. Click on DEPOSITS UN-RECONCILED button to draw a list of the outstanding deposits and use the appropriate date range. The outstanding deposits will show in the lower right box and the total will show in the "Checking Deposits Made But Not Shown by Bank" field of the Account Balance box.
6. A report of the outstanding deposits may be printed by clicking on the PRINT DEPOSIT LISTING button.
7. To reconcile the deposits, double-click on the cleared deposits to remove them. This will update the total of outstanding deposits in the Account Balance box.
8. After reconciling the deposits, click on the DEPOSITS RECONCILED button and use the same date range as before to run a listing of the reconciled deposits. The system will draw a list that can then be printed by clicking on the PRINT DEPOSIT LISTING button.
9. Using the Balance boxes on the left side of the screen, enter the bank statement balance in the first box. The system will automatically add and subtract the outstanding deposits and checks, providing the Account Balance.
10. TAB into the "Checking Account Balance" field of the Register Balance box and the system will fill in the balance as recorded by the system. Using the TAB key, move to the additional fields, entering any applicable amounts to reach the Ending Register Balance.
NOTE: Any service charges, interest or other adjustments will need to be recorded with a journal entry. (See Journal Entry Documentation).