Next Generation Software Bank Reconciliation Vadim Computer Managment Group LTD. Next Generation Software Bank Reconcilliation Contents i
Contents Chapter 1: Bank Reconciliation Transactions 1 Bank Reconciliation Transaction Entry...1 Cleared Cheque Entry- Single Cheque...1 Cleared Cheque Entry- Sorted...2 Reversing Cleared Cheques...3 Chapter 2: Bank Reconciliation Reports 5 Bank Reconciliation List...5 Bank Reconciliation Statement...6 Chapter 3: Vadim Customer Services 7 Software Support...7 New Software Modules Needed or Wanted?...7 Release of Liability...7 Glossary of Terms 9 Next Generation Software Bank Reconcilliation Contents i
Chapter 1: Bank Reconciliation Transactions Bank Reconciliation Transaction Entry The Bank Reconciliation system allows you to reconcile the balance shown by your bank statements to the balance reflected in your Bank G/L accounts. With the Bank Reconciliation system you can clear cancelled cheques, deposits and identify bank and interest charges. Cheques and deposits can be cleared one at time using the Cleared Cheque Entry Single program, or once the cheques have been sorted, they can be cleared quickly using the Cleared Cheque Entry Sorted program. Cleared Cheque Entry- Single Cheque The Cleared Cheque Entry Single program is used to clear cheques and deposits one reference number at a time. The Single Cleared Cheque Entry program would also be used to clear cheques that have been cashed for a different value than they were written for. How do I clear a single cheque Step by Step? To clear a single cheque select Cleared Cheque Entry Single from the Transaction menu. On the screen displayed complete the following fields: 1. Bank Code: In the Bank Code field enter the code that represents the Bank that the cheque was written on. If you do not know the code you can use zoom to locate the applicable Bank code. 2. Source: In the Source field enter the code that represents the subsystem that initiated the cheque, deposit or adjustment that you wish to clear. For example: enter AP to clear an Accounts Payable cheque. If you do not know the source code you can use zoom to locate the code. 3. Fiscal Year: Enter the Fiscal Year of the item that is being cleared. The current year will be displayed as the default. 4. Period: Enter the Period of the item that is being cleared. The current year will be displayed as the default. Next Generation Software Bank Reconcilliation Chapter 1: Bank Reconciliation Transactions 1
5. Reference: Enter the cheque or deposit number of the item you wish to clear. If you do not know the item number you can use zoom to locate the item reference number. 6. Date: The system will display the date of the item being cleared. This would be the cheque or deposit date. 7. Amount: The system will display the amount of the item being cleared. 8. No. of Cheques: A value will be displayed in the No. of Cheques field if the item being cleared is from the Accounts Receivable system. For items (usually deposits) being cleared from Accounts Receivable, the reference represents a payment batch and could contain multiple cheques. 9. Supplier: If the item being cleared is a cheque, the Supplier number and name will be displayed in the Supplier fields. 10. Customer: If the item being cleared is from Accounts Receivable the Customer number and name will be displayed in the Customer field. 11. Cleared Date: Enter the date that the item cleared the bank. 12. Cleared Amount: Enter the amount that cleared the bank for this item. Normally this amount would be the same as the written amount. If this amount is different a journal entry may be necessary to adjust the Bank Balance in your General Ledger. 13. When all fields have been completed, select Save to retain the record. 14. Enter another item to be cleared or select Exit to return to the Transaction menu. Cleared Cheque Entry- Sorted The Cleared Cheque Entry Sorted program is used to clear multiple cheques and deposits. Before using program the returned cheques should be sorted in cheque number order. How do I clear Sorted Cheques Step by Step? To clear cancelled cheques select Cleared Cheque Entry Sorted from the Transaction menu. The first step is to define the bank, year, period and cleared date that you wish to apply to the items being cleared on the Parameters screen. 1. Bank Code: In the Bank Code field enter the code that represents the Bank that the cheques were written on. If you do not know the code you can use zoom to locate the applicable Bank code. 2. Source: In the Source field enter the code that represents the subsystem that initiated the cheque, deposit or adjustment that you wish to clear. For example: enter AP to clear an Accounts Payable cheque. If you do not know the source code you can use zoom to locate the code. For all sources leave this field blank. All Applications will be displayed in the description field. 3. Fiscal Year: Enter the Fiscal Year of the items that are being cleared. The current year will be displayed as the default. Next Generation Software Bank Reconcilliation Chapter 1: Bank Reconciliation Transactions 2
4. Period: Enter the Period of the items that are being cleared. The current period will be displayed as the default. 5. Cleared Date: Enter the date of the items that have cleared the bank. When clearing sorted cheques this date is normally the Bank Statement date. 6. Select Start to have the system display the items to be cleared. 7. The next step is to scroll through the items listed and compare them to the returned cheques and the bank statement. 8. Enter a C for cleared in the Cleared column. Press the down arrow to move to the next line. If an item has not cleared the bank, leave this field blank and just press the down arrow to move to the next line. 9. The date entered on the first screen will be entered in the Cleared Date column. 10. Continue clearing items until done. 11. Select Save to retain entries. 12. Select Exit to return to the main screen. 13. Select another Bank to clear items for or select Exit to return to the Transaction menu. Reversing Cleared Cheques The Reverse Cleared Cheques program is used to erase clearance information on items, one reference number at a time. The clearance flag and date are removed from the file. The Reverse Cleared Cheques program would also be used when an item was cleared in error or for the wrong amount. How do I Reverse Cleared Cheques Step by Step? To reverse a cleared item select Reverse Cleared Cheques from the Transaction menu. On the screen displayed complete the following fields: 1. Bank Code: In the Bank Code field enter the code that represents the Bank that the cheque was written on. If you do not know the code you can use zoom to locate the applicable Bank code. 2. Source: In the Source field enter the code that represents the subsystem that initiated the cheque, deposit or adjustment that you wish to clear. For example: enter AP to clear an Accounts Payable cheque. If you do not know the source code you can use zoom to locate the code. 3. Fiscal Year: Enter the Fiscal Year of the item that was being cleared. The current year will be displayed as the default. 4. Period: Enter the Period of the item that was cleared. The current year will be displayed as the default. 5. Reference: Enter the cheque or deposit number of the cleared item you wish to reverse. If you do not know the item number you can use zoom to locate the item reference number. 6. Date: The system will display the date of the item. This would be the cheque or deposit date. Next Generation Software Bank Reconcilliation Chapter 1: Bank Reconciliation Transactions 3
7. Amount: The system will display the amount of the item being cleared. 8. No. of Cheques: A value will be displayed in the No. of Cheques field if the item being cleared is from the Accounts Receivable system. For items (usually deposits) being cleared from Accounts Receivable, the reference represents a payment batch and could contain multiple cheques. 9. Supplier: If the item is a cheque, the Supplier number and name will be displayed in the Supplier fields. 10. Customer: If the item is from Accounts Receivable the Customer number and name will be displayed in the Customer field. 11. Cleared Date: The system will display the date that the item was cleared. 12. Cleared Amount: The system will display the amount that was cleared for this item. 13. Select Browse to review the payments that were cleared with the item. Select exit from this screen to return to the main screen. 14. If you wish to erase the clearance information, select the Confirm button. If you do not wish to erase the information select Cancel. 15. Enter another item that needs the clearance information erased or select Exit to return to the Transaction menu. Next Generation Software Bank Reconcilliation Chapter 1: Bank Reconciliation Transactions 4
Chapter 2: Bank Reconciliation Reports Bank Reconciliation List The Bank Reconciliation program allows you to print a list of bank entries for selected banks. The entries included on the list can be defined by Fiscal Year, period, reference number, source, date and status. How do I print a Bank Reconciliation List Step by Step? To print a Bank Reconciliation list select Bank Reconciliation List from the Reports menu. 1. Bank Number: Enter starting and ending bank numbers in the From and To fields. If you do not know the Bank Numbers associated with the banks, use zoom to locate the bank number that you wish to print the list for. 2. Payment Date: Enter the starting and ending dates of the data that you wish to include on the report. The system will show as defaults the first day of the current year in the From field and the current date in the To field. 3. Status as of: The current date will be displayed as a default, however you can enter a previous date. Enter the date that you wish to have the status for. 4. Source: In the Source field enter the code that represents the subsystem that initiated the cheque, deposit or adjustment that you wish to clear. For example: enter AP to clear Accounts Payable cheques. If you do not know the source code you can use zoom to locate the code. For all sources leave this field blank. All Applications will be displayed in the description field. 5. Year/Period: Enter the Starting and Ending Years and Period that you wish to print on your report. The system will default to the current year and period. 6. Reference Number: If you wish you can specify a starting and ending reference number. For all references, accept the defaults of blanks to Next Generation Software Bank Reconcilliation Chapter 2: Bank Reconciliation Reports 5
zzzzzzz. If you wish to specify a range and are not sure of the numbers you can use zoom to locate the numbers. 7. Type: Select the type of report that you wish to print. A Detailed report shows the individual payment records for each reference number. A Summary report shows one line per reference number. 8. Status: Select the status of the entries that you wish to include on your report. If All is selected, all items cleared and outstanding will be listed. If Cashed is selected, only those items that have been cleared will be listed. If Outstanding is selected, only those items that are still outstanding will be listed. 9. Destination: Select where you wish you report to be generated. Valid Report Selections include the screen, Graphic Printer, Text Printer or to a File. If File is selected you must specify the filename that you wish to use for the file. 10. Select start to print the report, cancel to change the options specified or Exit to return to the Reports menu. Bank Reconciliation Statement This Bank Reconciliation program allows you to print a statement reconciling your bank statement with your bank GL code balance. The entries included on the statement can be defined by Fiscal Year and period. The report must be printed separately for each bank. How do I print a Bank Reconciliation Statement Step by Step? To print a Bank Reconciliation statement select Bank Reconciliation Statement from the Reports menu. 1. Bank Code: Enter the bank code of the bank that you wish to print the statement for. If you do not know the Bank Code associate with the bank, use zoom to locate the bank code. 2. Fiscal Year: Enter the Fiscal Year that you want the report for. The current year will be displayed as the default. 3. Period: Enter the Period that you want the report. The current period will be displayed as the default. 4. Statement Date: Enter the date of the Bank Statement. The current date will be displayed as a default. 5. Statement Balance: Enter the closing balance from the statement received from the bank. 6. Destination: Select where you wish you report to be generated. Valid Report Selections include the screen, Graphic Printer, Text Printer or to a File. If File is selected you must specify the filename that you wish to use for the file. 7. Select start to print the report, cancel to change the options specified or Exit to return to the Reports menu. Next Generation Software Bank Reconcilliation Chapter 2: Bank Reconciliation Reports 6
Chapter 3: Vadim Customer Services Software Support Vadim prides itself in providing top Customer Service. We give you several options for contacting us with problems related to software or hardware. For Next Generation Software problems please email: Email: Support (support@vadimcmg.com) Call: (250) 765-7654 Fax: (250) 765-2830 Please visit us on the World Wide Web. World Wide Web (http://www.vadimcmg.com/) New Software Modules Needed or Wanted? Are you interested in other Vadim products? We provide a whole suite of products that are fully integrated to solve your financial and municipal needs. Please feel free to contact our Sales Department. Email: Sales (info@vadimcmg.com) Call: (250) 765-7654 Fax: (250) 765-2830 Please visit us on the World Wide Web. World Wide Web (http://www.vadimcmg.com/) Release of Liability Vadim Computer Management Group has prepared this document for use by Vadim staff, licensees and customers. Vadim shall not be responsible for any damages Next Generation Software Bank Reconcilliation Chapter 3: Vadim Customer Services 7
(including consequential) caused by reliance on the materials presented, including but not limited to typographical, arithmetic or listing errors. 8 Next Generation Software Bank Reconcilliation
Glossary of Terms RED ARROW Zoom is a function that is used to show a valid "pick list". To invoke Zoom the screen will have a or ZOOM will be displayed in the bottom right corner of the screen. Upon pressing a Zoom button you will be given a valid list of options. You can also invoke a Zoom command by pressing F5. Zoom Zoom is a function that is used to show a valid "pick list". To invoke Zoom the screen will have a or ZOOM will be displayed in the bottom right corner of the screen. Upon pressing a Zoom button you will be given a valid list of options. You can also invoke a Zoom command by pressing F5. Next Generation Software Bank Reconcilliation Glossary of Terms 9