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Bank Reconciliation

Outstanding Cheque Report

  1. ACCOUNTS PAYABLE…à7.bank reconciliation…à1.outstanding CHEQUE report

All cheques processed through accounts payable are kept on file to assist you in balancing your bank account when the statement arrives.  This report is sorted in cheque number order and prints the source (automatic or manual/miscellaneous cheques), the cheque number, the vendor or payee (if miscellaneous cheque), and the date and amount of the cheque.

Bank Reconciliation Input

  1. ACCOUNTS PAYABLE…à7.bank reconciliation…à2.bank rec input
  2. start date

Press [enter] to default the stating date of the cheques to be cleared to the earliest date. 

  1. Source

Enter the source of the cheque, [A/P] for automatic or [M/C] for manual/miscellaneous cheques.  Pressing [enter] will result in cheques from all sources being displayed.

The cheques are displayed in numerical order, by date.  In the 9. SYSTEM UTILITIES à 3. SYSTEM SETUP à 2. Accounts payable à 1. SYSTEM PARAMETERS, the field called default cancel will control whether the cheques are automatically cleared or not.   If the default cancel is set to [y], then all cheques will be marked as cleared.    Should any cheque listed remain outstanding, enter the line number associated with the cheque number and change the cancel flag to [n].  If the default cancel field in the parameter file have been set to [y], then the opposite will apply. When exiting the program use F2 (reject) F1 (to accept), E (to exit) or Q (for quit). The system now asks to update cheques? (Y/N). The default is “Y” unless F2 (reject) is used then the default is “N”.

Bank Reconciliation Edit List

  1. ACCOUNTS PAYABLE…à7.bank reconciliation…à3.bank rec edit list

As with other processes, the Edit List is available for you to check your work before proceeding to the Update stage.

Bank Reconciliation Update

  1. ACCOUNTS PAYABLE…à7.bank reconciliation…à4.bank rec update

Use the Update process to remove all selected cancelled cheques from the Outstanding Cheque file.  A journal will print as proof that the file was updated and will show the source, cheque number and payee, date and amount.

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