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.

More Information

Configuration

You will need to flag the nominal codes that you want to reconcile. The standard bank account code on Platinum is 'Z992', and this should already be flagged as a reconciled code. If it is not, please contact Hotline Support to set this up. You will need a starting point for your Bank reconciliation, so you must have a reconciled balance and a list of all the un-presented items. For other codes, the information that you require will vary depending on the centre.

• 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.
• To the right of "Name", there is a box with "Reconciled?" alongside it. Click this box to make this centre reconcilable.
• Click [Done] and [Accept] to save the change.
• Press <Esc> to exit from here back to the Nominal Ledger main menu.
• Go to "Nominal Ledger" -> "Bank Reconciliation".
• At "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 "Default to Reconciled :" to 'Y', otherwise leave it set to 'N'.
• Press <F2> to reconcile the centre.
• You will see all the transactions posted to this centre so far, and the system will leave you on the last page of items.
  • If you have set "Default to Reconciled :" to 'Y', there will be an asterisk against each item. If this is the case, find all the items that are un-presented, and press <F2> against each one to remove the asterisk from that item. This shows that the item has NOT been reconciled.
  • If you have set "Default to Reconciled :" to 'N', press <F2> against each item that is NOT on your un-presented list. An asterisk will appear against each of these items to show that you consider it to have been reconciled. You should then be left with just those items that are on your un-presented list.
• Press <Esc> and <Enter> 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".
• Press <Up Arrow> to move to "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.
• Press <Down Arrow> to move back down to "Reconcile to Date :" and enter the date to which you have carried out your previous reconciliation.
• At "Statement Balance :", enter the same figure as you entered at "Last Reconciled Balance :". Again, don't forget to enter this as a negative figure if you are over-drawn.

Usage

• Go to "Nominal Ledger" -> "Bank Reconciliation".