Bank Account Details

The uncleared details of each bank account are found it the bank accounts section of monthly tasks. That is, transactions that have not yet been reconciled. Once items have been reconciled to the bank statement, they will no longer appear in this particular dialog. However, you can still access all bank account details using the Bank Account Details report or General Ledger Journals.

The bank account details dialog allows you to easily reconcile bank account, transfer funds, withdraw cash, apply service charges, and apply interest.

To Access Bank Account Details.

Bank Account Detail Buttons

Save - Saves any changes made and returns to the bank account summary dialog.

All - Will check all transactions as cleared.

None - Will un-check all cleared transactions.

Undo - Will revert all changes back to the last save.

Tools - Provides the tools to add interest, record service charges, make general adjustments, and reconcile.

Print - Provides all standard the software print options.

Cancel - Allows you to cancel and not save changes made. You will be returned to the bank account summary dialog.

Bank Account Details

Each transaction in the bank account has the follow properties:

Date - The date the transaction was posted.

Description - The description of the transaction that provides items such as check number, check recipient, and transaction type.

Location (Central Accounting Only) - The location of the of the transaction.

Deposit - The amount of any transaction that increased the bank account balance.

Withdraw - The amount of any transaction that decreased the bank account balance.

Balance - The new balance after the transaction was posted.

C - If checked, the transaction has cleared the account but has not yet been reconciled.

Tip: You can sort transactions by any of the above details by clicking on the heading. Click once for ascending order and a second time for descending. The next time you enter the bank account dialog on the same workstation, the sort order will be remembered.

Posting Interest Earned

  1. Click on the Tools menu.

  2. Click Interest Earned.

  3. Specify the Transaction Date if different than today by clicking on it.

  4. Enter the amount in the Interest Earned field.

  5. Enter a Description if different than the default.

  6. Click on Apply. The offsetting general ledger account for interest earned is 4470.

Tour

Posting A Service Charge

  1. Click on the Tools menu.

  2. Click on Service Charge.

  3. Specify the Transaction Date if different than today by clicking on it.

  4. Enter the amount in the Service Charge field.

  5. Enter a Description if different than the default.

  6. Click on Apply.

Note: The offsetting general ledger account for service charges is 5470.

Posting An Adjustment

  1. Click on the Tools menu.

  2. Click on Adjustment.

  3. Specify the Transaction Date if different than today by clicking on it.

  4. Enter the amount in the Adjustment field.

  5. Enter a Description if different than the default.

  6. Click on Apply.

Note: The offsetting general ledger account for adjustments  is 4470 (Positive) and 5470 (Negative).

Reconcile A Bank Account

At the bottom of the bank account details dialog, you will find Balance, Cleared, and Difference. These tools help when reconciling the account. The balance is the current balance of the account. The cleared amount the reconciled balance plus any transactions checked to be cleared. The difference is the balance minus the cleared amounts. Before you begin clearing transactions to reconcile, the cleared balance should equal your previous bank statements ending balance. Once all transactions have been cleared, it should equal your new balance on the current statement. The difference is simply the difference between the balance and cleared amounts.

  1. Check that the Cleared balance equals your beginning balance on your bank statement.

  2. Check the Cleared (C) checkbox for each cleared transaction.

  3. Check that the Cleared balance equals your new balance on your bank statement.

  4. Click on the Tools menu.

  5. Click on Reconcile.

  6. Specify the Statement Date by clicking on it.

  7. Verify the Beginning and Ending balances. You may adjust the ending balance and counteract the amount with an Adjustment.

  8. The Difference should be zero.

  9. Click Reconcile.

  10. You are given the option to print a copy of the reconciliation if needed.

Undo the Last Bank Reconciliation

If you reconciled a bank account in error, you can undo the last bank reconciliation.

  1. Open the bank account details dialog.

  2. Click on Tools.

  3. Click Undo Last Reconciliation.

  4. Answer any prompts accordingly.