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BALANCING YOUR BANK STATEMENT RECONCILIATION
IN ACTIVITIES ACCOUNTING PRO
IMPORTANT: Prior to Posting the bank statement reconciliation
you should stop and make a backup of your data. Carefully
check the bank reconciliation closing period date prior to
posting or posting and printing the reconciliation.
1. In Bank Statement Reconciliation
a. Fill in the Closing Period with the same date range as
your bank statement
b. Fill in the Statement Balance; this is the cash in the
bank on the last day of the statement
c. Clear the checks that have been cashed by your bank. If
there are any checks that are on your statement but NOT on
the Bank Statement Reconciliation, add them at this time.
If you believe that you did enter them into the system, look
over your Check Journals for the month to determine why they
do not show.
Note: Voided checks will show in your check list on the
bank statement reconciliation but will not allow you clear
them.
d. If you have other monies (investments) not included on
the bank statement you are balancing to, add them in the Investments
box of your Bank Statement Reconciliation.
2. Print a Current Cash Balance Report with the same
date range as your Bank Statement Reconciliation. The total
on this report should match the Book Balance on the bank statement
reconciliation. If it doesn’t:
a. Look at the total on the Receipts column. This should match
the total credits/deposits on your bank statement.
Note: If you add your interest as an Adjustment in AAPro,
your Receipts column will be short that amount, but it will
show as the total in your Adjustments column.
b. If the Current Cash Balance does not match the Receipts
column, you need to determine if it is because:
· If recepts are not reflected on bank statement
but entered in AAPRO, enter in Outstanding Receipts box.
· You had Outstanding Receipts last month and
they now show on the bank statement
· Some receipts were not entered into AAPro
· It may be helpful to look over your Receipt
Journals or to run a Receipt History Report with the date
range the same as the statement dates of your bank statement.
Note: If you enter any checks, receipts, or adjustments
or void a check while you are working on balancing, pay
close attention to the transaction date. Remember that
AAPro always defaults to the current date. Rerun your Current
Cash Balance Report because these new transactions will affect
your cash.
c. Is there anything in your Adjustment column? Generally
the Adjustment column is reserved for transferring money from
one account to another or for unusual entries such as bank
charges for returned checks or corrections posted by the bank.
If the total on your Adjustment column is not zero, you should
be able to account for the total.
d. If your Receipts and Adjustments balance, the problem must
be in the Disbursements column. Verify that the total of cleared
checks on your Preliminary Bank Statement Reconciliation matches
the total cleared checks on the statement from the bank.
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