How to Clear Bank Transactions in Bank Reconciliation

After all checks, deposits, and adjustments have been recorded in Bank Reconciliation, do the following:

1. Enter the bank statement's ending balance in the Statement Ending Balance field.
2. Click Clear to toggle the entry at the Clear column from N to Y for all checks, deposits, or adjustments on the bank statement.
3. The amount in the Out of Balance By field reflects the clearing of this transaction amount.
   • For deposits, the 'Out of Balance By' amount is decreased
   • For checks, the 'Out of Balance By' amount is increased.

4. When the last transaction has been completed, click Printer button in Reconcile Bank to print the Bank Reconciliation Register/Report

5. Verify that the adjusted book balance and the calculated book balance on the Bank Reconciliation Register/Report match.

6. Proceed with procedures on Related Article below, How to Purge Cleared Transactions in Bank Reconciliation.

If Bank Reconciliation is not integrated to any other module, enter all transactions for the month in Check, Deposit and Adjustment Entry, and click Clear to toggle the entry at the Clear column from Y to N for all entries not displayed on the bank statement.

If the bank statement does not list cleared checks in numerical order, it might be quicker and easier to use Check, Deposit & Adjustment Entry to clear monthly transactions; however, Reconcile Bank must still be used to enter the correct the ending balance from the monthly bank statement before clearing checks.

 

DocLink: General Ledger does not balance to the Bank Reconciliation module
DocLink: How to resolve an Out of Balance in Bank Reconciliation
DocLink: How to purge cleared transactions in Bank Reconciliation.