Reconcile Checks

  • Print the G/L Trial Balance Report in Detail. It is not necessary to print this for all G/L accounts; print the trial balance only for the cash account.
  • Checks
  • Payroll Checks (if Payroll checks are issued from this bank account)
  • From the bank statement, enter cleared checks in Check Reconciliation Entry.
  • Print the Check Recon File Listing for Reconciled checks. Compare this listing with the bank statement. Make any corrections necessary and reprint.
  • Accounts Payable Checks
  • From the bank statement, enter cleared checks in Check Reconciliation Entry.
  • Print the Accounts Payable Check Recon File Listing for Reconciled checks. Compare this listing with the bank statement. Make any corrections necessary and reprint.
  • Add the totals from the two Check Recon File Listings. This grand total should equal the cleared check total on the bank statement. Once correct totals have been obtained, these reports should be disposed of. Do not proceed until reconciled totals agree.
  • Outstanding Checks
  • Print the Payroll Check Recon File Listing for Outstanding checks. Highlight the total.
  • Print the Accounts Payable Check Recon File Listing for Outstanding checks. Highlight the total.
  • Deposits & Adjustments
  • Make Journal Entries for all fees and adjustments included on the bank statement that do not display on the G/L Trial Balance Report.
  • Reprint the G/L Trial Balance Report and dispose of the previous report. Highlight the "ending balance" on the new report.
  • In Check Reconciliation Maintenance, enter all deposits and adjustments that display on the G/L Trial Balance Report but are not included on the bank statement.
  • Print the Check Recon File Listing for Adjustments and Deposits. Highlight the total.
  • Use the Check Reconciliation Worksheet to reconcile the General Ledger with the bank statement.
  • Purge reconciled checks from the reconciliation file using Check Recon File Purge. Note that check history is retained.