AP10S1 Accounts Payable Check Reconciliation Report

Check Reconciliation Report

Application Overview

 

Periodically, the bank will send a statement showing all checks that have been paid out of your checking account, as well as all deposits and charges made.  The canceled checks will be included with the statement.  Each of these statements must be reconciled; that is you must ensure that there are no discrepancies between your records and the bank's records concerning the account.

 

The Check Reconciliation Report application allows you to print a report showing all outstanding checks as of a particular date.  The report will also, optionally, print all checks, which were reconciled on a particular bank statement.

 

The file can be purged to save disk space, or the information can be retained on file for future reference.

 

The following is the procedure to print reconciled checks:

 

1)    After all the checks are entered via check reconciliation in the Processing pull-down window, print the Check Reconciliation Report for the correct cash account. Answer Y to show paid checks, enter the statement date for the reconciliation date and the ending check date.  Answer N to purge reconciled checks.

 

2)    A report will print showing all outstanding checks (those that the bank has not paid yet) and all checks that were shown as paid on the current statement.

 

3)    Find out what the checkbook total was for the account on the statement ending date.  This total, plus the total outstanding checks shown on the report, minus any charges shown in the state­ment, should equal the account ending balance shown on the state­ment.

 

4)    If these amounts are not equal, then you must figure out why.  First, compare the total of reconciled checks to the figure on the bank statement.  If they do not match, find which check amount is incorrect.  Make sure that the last statement was properly reconciled.  Make sure that there are no arithmetic errors in the checkbook.  Correct any errors found.

 

5)    Enter the charges shown on the statement into the checkbook.

 

6)    The statement is now reconciled.


Run Instructions

 

Select Check Reconciliation Report from the pull-down A/P Report window.  The following screen will then be displayed:




 The following options are available:

  • Enter the data requested on the screen

To exit press the ESC or F10 key when the cursor is positioned for entry of the first field on the screen.

To return to the menu bar, press the ESC or F10 key. To leave this application, press X for EXIT when positioned at the menu bar.

 


Entry Field Descriptions

 

Name

Type and Description

Print Checks For Which Cash Account ?

An account number in the standard account number format.

 

Pressing the F7 key will allow you to search for the account by number or pressing the F8 key will allow you to search for the account by description.

 

Enter the number of the cash account being reconciled.

 

This field defaults to the default cash account number.

 

This field will not be entered unless you are using multiple cash accounts.

1.   Show Paid Checks ?

Y or N.

 

Enter Y if you wish to have checks, which have already been paid, by the bank to appear on the report.

 

Enter N if you wish to have only outstanding checks appear on the report.

 

The default is Y.

2.   Reconciliation Date

A date in the standard date format.

 

This field is not needed if the answer to Show Paid

Checks ? was N.

 

Press the F1 key to show all reconciliation dates.  If All is selected, then all reconciled checks will appear on the report.

 

If a specific date is entered, then any reconciled checks on file with this reconciliation date will appear on the report.

 

This field defaults to the current date.

3.   Purge Reconciled

     Checks ?

Y or N.

 

Enter Y if you wish to purge those reconciled checks, which appeared on the report.  This will conserve disk space.

 

Enter N if you do not want any­thing purged from the Check Recon­ciliation File.

 

Normally, you do not want to purge reconciled checks until the bank statement is verified.

 

The default is N.

4.   Ending Check Date

A date in the standard date format.

 

This is the last check date of unreconciled checks that will appear on the report.

 

The default is All dates.

 


 

 





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