Reconciliation Checklist

Transcription

1 Logon to internet banking and download Bank Statement Receipt all funds received on your Bank Statement to the appropriate files in Gateway Add any Adjustments for Unallocated funds received in your Bank Statement, add these in the Adjustment Tab of your Advanced Reconciliation, or receipt them as a miscellaneous receipt account and Unallocated Funds Creditor Run the Reconciliation Wizard Enter Todays date as the Reconciliation Date Enter the Closing Balance on your statement, ensure that all funds that are included within this balance are accounted for in Gateway Present any Cheques that have been debited from your Bank Statement Present any Banking that has been credited to your bank statement, if Un-presented Deposits are turned on, present the deposited receipts ensuring they are correct along the way Present any EFT payments that been debited from your account, or any adjustments that have been resolved If you are in balance, choose Finish and print of all 4 reports and file in your Reconciliations Folder If you are out of balance, move onto the Out of Balance Checklist 1

2 Out of Balance Checklist Check that the date you are reconciliation as of is set as Todays date Check that the closing balance you are using is the correct balance Check that all cheques, deposits or adjustments have been presented off if required or presented off in error (if presented off in error, un-present to cheque, deposit or adjustment in the Advanced Reconciliation) Check that adjustments have been entered correctly. Remember, negative adjustments mean that there is more in your bank and not enough in Gateway, positive adjustments mean there is more in Gateway and not enough in the bank. For example, unallocated funds that can t be receipted into Gateway is a negative adjustments. Or a payment that has been debited from your bank account but hasn t been debited from Gateway is a positive adjustment. If the above items are correct and you are still out of balance, there may be a transaction that has been entered incorrectly or not entered at all. If you are still out of balance, cross check all of your transactions from your cashbook and bank statement. First print your Cashbook from Gateway. Go to Reports and select Cashbook. Choose to print either daily or monthly depending on how long you have been out of balance Secondly, print your Bank Statement. This can be done through internet banking. Lay out both reports, and begin to tick off each transaction from your Cashbook to match your Bank Statement. Remember, Gateway is a mirror of your Bank Statement. If there is something that doesn t match (even in the smallest amount) this will cause you to be out of balance. Once you find the error, correct this in Gateway then run your Reconciliation Wizard again. 2

3 How to Edit Adjustments Select Advanced Reconciliation from the Reconciliation Wizard Choose the Adjustment tab Highlight the Adjustment you wish to correct, then choose File and Open Edit the Adjustment as required, then choose OK 3

4 How to Un-presented a Presented Adjustment Select Advanced Reconciliation from the Reconciliation Wizard Choose cheque, deposit or adjustment tab Choose the Show Presented Items icon 4

5 If you see an entry that has been presented that hasn t been debited from your bank statement yet or been corrected, you can un-present this by highlighting the incorrect entry, then selecting the Un-present Item icon When prompted, choose Yes to un-present the item. 5

6 How to Print Your Cashbook Select the Reports dropdown list, then choose Cashbook Choose the period you wish to print under Type, then choose OK 6