How do I reconcile a nominal centre?

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Summary

The Nominal reconciliation option allows you to reconcile a centre to check all the Debit and Credit entries agree.

More Information

This is a useful option to allow you to balance your Vehicle Purchase Accrual centre, Cash, Cheque and Credit Card centres and any other centres you consider this feature useful for.

You will not be able to enter a value to reconcile to as the intention is that you are reconciling movements in and out as opposed to reconciling to a value. To reconcile your bank account please follow this article.

Please note only Balance Sheet centres can be reconciled in this way.

Configuration

Go to " Nominal Ledger Maintenance Options Centre Maintenance Insert/Amend/Delete Centres".

  • Search for the centre that you want to be able to reconcile.
  • Press <F5> or click [Edit] to edit the centre.
  • At the "Reconciled?" prompt select 'Nominal Reconciled' from the drop down menu.
  • Click [Done] and [Accept] to save the change.
  • Press <Esc> to exit from here back to the Nominal Ledger main menu.


Usage

Go to " Nominal Ledger Nominal Reconciliation".

You will only be able to reconcile transactions that are in the Nominal Ledger i.e. Journals and Sales and Purchase transactions which have been updated to the Nominal Ledger as part of the End of Month routine.
  • Enter the centre to reconcile by typing the code or press <Ctrl+F1> to search for a centre.
If you press <F1/S-F1> you will scroll through only those centres available to be reconciled via the Nominal Reconciliation program
  • Enter the date range of transactions to display.
  • Press <Enter> or click [Search].
  • Debit transactions will be shown in the column on the left and Credit transactions in the column on the right. Either side of the columns, the details relating to the selected transaction will be displayed e.g. Customer, Supplier, Comment, Date, Posted by etc.
  • Depending on the type of transaction you will have options available to allow you to see further details:
    • Press <F7> to view the vehicle details.
    • Press <Shift+F2> to view the transaction details.
    • Press <F6/S-F6> to view or reprint an Invoice/Credit document.
    • Press <Ctrl+F7> to view Order details.
    • Press <Alt+F7> to view Stock details.
Click the [Functions] menu or press <F12> at any point to see the options available for the transaction you have selected.

Linking Items

  • The system will try to match any obvious linked items for you. These will be highlighted green.
  • To match transactions yourself, click the relevant items in the Debit and Credit columns and press <F5> or click [Select] on each one.
  • The selected items will turn purple.
  • When the selected items balance to zero you will be prompted to Link the transactions together.
  • Enter a suitable comment and click [Link]. You may leave the comment blank.
    • If you wish to continue without linking items together at this point click [Cancel] and the items will remain selected but no link has yet been made.

Continue selecting and linking items until the overall difference, displayed on the right of your screen, returns to zero.

To de-select any unlinked items press <Esc> or click [Cancel].
To de-link an item click on one of the linked items and press <F10> or click [Delink]. This will only remove the link between items related to the one you have selected.
To abandon the reconciliation click [Cancel] and click [Done]. Choose [Discard].

Confirm or Save the Reconciliation

When you have linked all the relevant transactions click [Done].

  • Click [Confirm] to complete the reconciliation or click [Save] to save the reconciliation as In Progress.

The transactions will be marked as reconciled and will not reappear in this screen unless the reconciliation event is reversed.

See also


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bank, account, reconcile, balance, rec, acc, month end, month, end, Nominal Reconciliation, Reconciliation, bank recon, bank reconcilliation, Nominal
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