View source for Reconciling your bank account

== Summary ==
This article explains how to configure and then use the Bank Reconciliation option. The use of this option is not limited to just your bank account code - you can use it for other nominal codes as well (Credit Cards, PayPal etc).

== More Information ==

=== Configuring a centre to be reconciled ===
You will need to flag the nominal codes that you want to reconcile. 

Go to {{Menu|{{NL}}|Maintenance Options|Centre Maintenance|Add or Edit Nominal Centres}}.
* Search for the centre that you want to be able to reconcile.
* Press {{KeyPress|F5}} or click {{Button|Edit}} to edit the centre.
* At the {{DataPrompt|Reconciled?}} prompt select {{DataValue|Bank Reconciled}} from the drop down menu.
* Click {{Button|Done}} and {{Button|Accept}} to save the change.
* Press {{KeyPress|ESC}} to exit from here back to the {{NL}} main menu.

{{Warning|text=The standard bank account code on Platinum is {{DataValue|Z992}}, and this should already be flagged as a reconciled code. If it is not, {{SupportContact}} to set this up.}}

=== Initial Configuration ===
{{Information|text=This section only applies to the first time the Bank Reconciliation program is used for a Nominal centre. For everyday use please see the '''Regular Useage''' section below.}}

You will need a starting point for your Bank Reconciliation, so you will need a reconciled balance and a list of all the un-presented items at the date on which you want to start. For other codes, the information that you require will vary depending on the centre.

Go to {{Menu|{{NL}}|Bank Reconciliation}}.
* At {{DataPrompt|Reconcile to date:}}, enter the date to which you have carried out your previous reconciliation.
* If you have been using Platinum for some time, set {{DataPrompt|Default to reconciled:}} to {{DataValue|Yes}}, otherwise leave it set to {{DataValue|No}}.
* Press {{KeyPress|F2}} or {{Button|Search}} to list the transactions. You will see all the transactions posted to this centre so far.
** If you have set {{DataPrompt|Default to reconciled:}} to {{DataValue|Yes}}, the transactions will default to be shown as reconciled (they will be displayed in the colour of {{DataValue|Reconciled}} in the key). If this is the case, find all the items that are un-presented, and press {{KeyPress|S-F5}} or double-click on each one to make the transaction unreconciled.
** If you have set {{DataPrompt|Default to reconciled:}} to {{DataValue|No}}, press {{KeyPress|F5}} or double click on each item that is '''not''' on your un-presented list to make the transaction reconciled. You should then be left with just those items that are on your un-presented list.
* Press {{KeyPress|ESC}} or {{Button|Done}} and then {{Button|Accept}} to update the information. The system will print a list of the un-presented transactions, with a statement balance and a balance per computer figure.
* Go back into "Bank Reconciliation".
* Move to {{DataPrompt|Last reconciled balance:}} and type your Statement Balance as at the date of your last reconciliation. Don't forget to enter this as a negative figure if you are over-drawn.
* Move back down to {{DataPrompt|Reconcile to date:}} and enter the date to which you have carried out your previous reconciliation.
* At {{DataPrompt|Statement Balance:}}, enter the same figure as you entered at {{DataPrompt|Last reconciled balance:}}. Again, don't forget to enter this as a negative figure if you are over-drawn.
* Make sure that {{DataPrompt|Default to reconciled:}} is set to {{DataValue|No}}.
* Press {{KeyPress|F2}} to reconcile the centre.
* Press {{KeyPress|ESC}} or {{Button|Done}} and then {{Button|Accept}} to update the information. The system will print a list of the un-presented transactions, with a statement balance and a balance per computer figure.
* You have now configured the bank reconciliation ready to start using it on a regular basis.

=== Regular Usage ===
Go to {{Menu|{{NL}}|Bank Reconciliation}}.

{{Information|text=For the current bank centre,the top of the screen will show the {{DataPrompt|Last reconciled balance}} and date the centre was {{DataPrompt|Last reconciled}}. This '''should not''' be amended.}}

* Enter the Bank {{DataPrompt|Centre to reconcile}} e.g. ''Z992''.
* At {{DataPrompt|Reconcile to date:}}, enter the date to which you want to reconcile your bank account i.e. the date on the statement you are balancing to.
* At {{DataPrompt|Statement balance:}}, enter the bank statement balance at the date that you have entered. Don't forget to enter this as a negative figure if you are over-drawn.
* Click {{Button|Search}}.

{{Information|iconsize=0.8|text=All unreconciled transactions up to the {{DataPrompt|Reconcile to date}} are listed. All transactions are shown regardless of whether you have processed the [[How to process a month end|financial]] period in which they are held. }}

* Press {{KeyPress|F5}} or double-click on each item that you can find on your bank statement. The colour will change to indicate it has been marked as reconciled.

{{Tip|text=Double click an item again to un-reconcile it}}.

* Once you have reconciled all the relevant items, the {{DataPrompt|Difference:}} figure shown ion the right hand section of the screen should be zero.
* Press {{KeyPress|ESC}} or click {{Button|Done}}.
* Click {{Button|Detailed}} for a printout of the transactions you have just reconciled.
* Click {{Button|Accept}} to save the reconciliation. The system will print a list of the un-presented transactions, with a statement balance and a balance per computer figure, which should agree to the trial balance figure at the same time.

=== Reconciling Other Centres ===
You can use this option to reconcile other centres if you wish. Reconciling centres such as {{DataValue|Z900 - Cash}} can be very useful, but to what statement balance do you reconcile? For this type of centre where it is being used as a control account, the statement balance should always be zero.

== See also ==
* [[How do I Import my Bank Statement into the Bank Reconciliation?]]
* [[How to process a month end]]
* [[What should I consider at month end?]]
* [[How do I set a nominal centre to be reconciled?]]
* [[The banking journal]]
* [[How do I reconcile a nominal centre?]]

{{KB_Tags|bank, account, reconcile, balance, rec, acc, month end, month, end, bank reconciliation, reconciliation, bank recon, bank reconcilliation}}
{{KB_NL}}{{ZN_Accounts}}

{{KB_Ref|RP11}}