Reconcile Account

Bank Account reconciliation is the process of checking that all the items which make up the actual changes in the various business bank and credit card accounts are fully reflected in Liberty Accounts records.

Reconciled From

The date of the last reconciliation. The date will either have been entered by the user in a manual process or taken as the date of the newest item from a statement upload process. It can be overwritten if necessary for example if a previous reconciliation batch is deleted and needs to be re-reconciled out of sequence.

If user entered, the date can either be recorded manually or selected from the pop-up calendar. The Date must be entered in the format DD/MM/YYYY, for example, 01/01/2000.

When entering dates manually, a date guessing routine speeds up the input by taking the user input and assuming the missing month and or year based on the current date as the user leaves the field i.e. the date today is 30th October 2018

Reconciled To

The dates of the current statement to be reconciled.

Starting Balance

The starting balance on the current statement. Liberty Accounts will automatically bring forward the figure from the last reconciliation.

Ending Balance

The ending balance on the current statement.

Branch/Fund

If displayed the Branch or Fund in this list will be used to associate any bank charge or interest journals generated as a result of the reconciliation with the selected Branch/Fund. The Branch/Fund is populated by default using the branch or fund associated with the account in the account details screen. Note Fund will only display when the entity is a Not-for-Profit entity.

Payments Reconciled

The total value of the payments being reconciled. This field is calculated based on the transaction(s) selected to be reconciled.

Deposits Reconciled

The total value of the deposits being reconciled. This field is calculated based on the transaction(s) selected to be reconciled.

Amount to Reconcile

The residual amount still to be reconciled. It is the difference between the Ending and Starting Balances plus the Payments reconciled less the Deposits reconciled. A reconciliation process CANNOT be completed until this is zero.

SAVE WORK Button

To save the page as it is currently displayed, including any reconciliations started but not completed click on this button. Page data saved even if the session is terminated. When the user returns to the reconciliation the page will display as the user left it. This action does not finally store the reconciliation state of each item; that will only happen when the work is Submitted.

SUBMIT Button

The Save Work button will change to Submit when there items marked as reconciled and the Amount to Reconcile value is zero. Submit confirms and stores the reconciliation and each item's reconciled status.

RESYNCH Button

To reload the reconciliation state as currently stored on the remote database servers click this button. This will reset everything on the screen to reflect the last previously submitted and stored status. The action will overwrite any Saved Work.

PROVISIONAL SELECTION BY DATE Button

When a Reconciled To date has been set, clicking Provisional Selection by Date automatically marks all un-reconciled items dated up to and including that date as reconciled. The user may then complete the reconciliation if appropriate. The option must be used with care.

Bank Charge

Record any bank charges that appear on your statement here.

From the Account dropdown select the account to which the bank charge is to be posted.

Interest Charge

Record any interest charges that appear on your statement here.

From the Account dropdown select the account to which the bank charge is to be posted.

Interest Earned

Record any interest earned that appears on your statement here.

From the Account dropdown select the account to which the bank charge is to be posted.

Select for Reconcile or Clear

Transactions are selected for reconciliation by ticking the box to the right of the item.

The CLEAR button provides you with a quick way of unticking all of the boxes.


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