It depends if you have your data available. If you do, you're ready to go.
Decide the first period (month) that you want to work with - and create an Excel (or csv) file of the transactions from the bank.
In a similar manner, create a file with your internal (typically General Ledger) records.
A sample Excel file for March 2018 may look like:
In addition, if available, you would want to include a file of all currently open transactions - typically an Outstanding Check List. This list would be as of the close of the prior period.
In our example of importing March 2018 records - this outstanding check list would be as of February 28, 2018.
Simply click on the Import Bank Transactions icon and you'll select the Excel (or csv) file containing the transactions for your bank reconciliation.
At the mapping window, you'll map the fields as appropriate.
Note: The system will remember your settings - you'll only need to do this once.
Click Next to review your imported records, and then Finish to complete the wizard.
Click on the Import General Ledger Transactions icon to import the General Ledger transactions and Outstanding Check Lists, using the same logic as for the bank file (above).
When you run a reconciliation report, the system will automatically run our automated transaction matching engine.
Click on View > Reconciliation Report.
This will display. Click 'Run Report' to start the Reconciliation Wizard.
Confirm the period and click Next.
Enter your beginning and ending balances.
The system will then confirm that you're in balance for the current period
(Beginning balance + Transactions = Ending balance).
After confirming that you're in balance for the current period, it will run the Bank Reconciliation Report which is a history-to-date process.
If you're out of balance, the system will suggest an adjusting entry. We highly recommend accepting it, as you can always remove it later.
Later, you can always continue to clean up at the manual matching window.
Note:
You can continue matching, but the Stay-In-Balance will protect your reconciled period from deleting and importing records into this and prior periods.
If you need to re-open the period, you can do so from the Periods report > Actions menu.
You can run additional Bank Reconciliation reports, which you can print and/or export to Excel.
Reconciliation Report
Customer Billing Portal
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