Reconciling bank accounts using bank statements

Some organisations reconcile their bank accounts using printed bank statements.

The following example shows a reconciliation with a perfect one-to-one correspondence between general ledger transactions (that is, what was entered into Synergetic previously such as cash receipts entry) and the bank statement entries. If there are some transactions that do not correspond exactly, see:

Manually creating bank transactions to match to a G/L bank transaction.
Matching two or more G/L transactions to a bank transaction
Matching two or more G/L transactions to two or more bank transactions.
Note: There are limits to how many G/L transactions or bank statements may be included in a multi-matched statement. See Synergetic Financial Configuration - General tab in the Finance manual.

To reconcile bank accounts using printed bank statements:

Select Module > General Ledger > Bank Reconciliation from the main menu.
The Select Current Bank Statement Control window is displayed.

Tip: You can also access General Ledger functions by clicking .
Click .
The Create New Bank Statement Control window is displayed.
Select the bank account to reconcile using the Bank Code drop-down list, if you have more than one bank account.
Get the statement for the bank account.
Enter the statement control fields using details from the bank statement.

Note: Most of the details are usually populated from the previous bank reconciliation.
Click .
The Bank Reconciliation window is displayed.
Identify the entry on the bank statement to be reconciled.
Note: Postings that are open cannot be reconciled. Open postings are displayed in dark red italic font.
Select the Reconciled Flag for the corresponding unpresented entry in the left pane.
The transaction is added to the right pane.

Tip: You can also double click on the unpresented entry or select the entry and click .
Mark off the entry on the bank statement.
Identify the next entry on the bank statement to be reconciled.
Select the Reconciled Flag for the corresponding unpresented entry in the left pane.
The transaction is added to the right pane.
Mark off the entry on the bank statement.
Repeat steps 10 through 12 for each entry to be reconciled.
If the bank statement is reconciled, the difference (Diff field) is zero and the following message is highlighted in green: B/S Reconciled.

If the general ledger bank transactions are reconciled, the Variance is zero and the following message is highlighted in green: G/L Reconciled.

Note: This information was only available from the Bank Reconciliation report previously.
Click .
The following dialog window is displayed.
Click .
The following dialog window is displayed.
Click .
The Bank Reconciliation report is spooled to your default Synergetic printer and the Select Current Bank Statement Control window is redisplayed.

Note: Depending on your configuration, the report can be previewed instead of printing. You can still print the report from the preview page. See Banking Configuration Maintenance - Bank Files tab in the Finance manual.
Repeat from step 2 for each bank account to reconcile.