Periodically, the bank will send a statement showing all checks, which have been paid out of your checking account as well as all deposits and charges, made. The canceled checks will be included with the statement. Each of these statements must be reconciled, that is you must ensure that there are no discrepancies between your records and the bank's records concerning the account.
Check Reconciliation application allows you to select the employee checks to be reconciled.
The Reconciliation file can be purged to save disk space, or the information can be retained on file for future reference.
The following is one procedure to use in reconciling checks:
1. Select the Select Check Reconciliation function from the Processing pull down window.
2. Enter the number of the first check on the stack or you may use the F1 key for the next check on file. The information on file for the check number entered will be displayed on the screen. Ensure that the employee and amount are correct; if not, make a note of it.
3. Enter the statement ending date on the screen where it says Date Reconciled. This field will default to the last date entered on subsequent entries.
4. Repeat step 4 until all checks have been entered. You can press the F1 key when the cursor is positioned for entry of the check number to bring up the next check on file. This can save you some entry time.
5. You may run the Reconciliation Report application after the checks are entered to verify the reconciliation process.
Select Check Reconciliation from the pull down PR Processing window. The following screen will then be displayed:
Check Reconciliation Entry Screen
The following options are available:
* Enter the data requested on the screen
To return to the menu bar, press the ESC or F10 key. To leave this application, press X for EXIT when positioned at the menu bar.
Entry Field Descriptions