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Bank
Reconciliation
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One
of the most tedious and
time-consuming problems (in my experience anyway) is ensuring the books
correspond with the Bank Accounts. hontreasurer.com has a feature which
allows
all transactions (if they are on an account which is designated to be
reconciled) to have a Statement Sheet Number on. So when the (printed)
Bank Statement comes, all transactions on that sheet can be given the
sheet number. This allows hontreasurer.com to print the
transactions
somewhat as they appear on the statement, and to produce a "money in"
"money out" analysis, each of which is a substantial aid to ensuring
that all the transactions which have gone through the Bank are in the
System and vice-versa.
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| The
Reconciliation Application |
The
Reconciliation Application is found on the Transactions menu and you
first need to supply;
- the account to be reconciled (defaults to your current
account) and
- the Bank Statement Number you are dealing with.
There are then two ways of carrying out the reconciliation depending on
whether you prefer to type the cheque/payin numbers or to select them.
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"Manual"
Reconciliation
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Use this method if either:
a) you prefer to select
the cheque/payins on the bank statement from a list, or
b) for bank transfers and other items which have no reference number.
Press "Show
Transactions to Reconcile",you will then be presented with a list of
transactions which have not yet been reconciled and which therefore may
be on this statement. You can select any number of transactions, but
the best idea is to select all for one cheque/payin, check the
"selected" total at bottom of the page and press "Reconcile". Then
repeat for each cheque/payin and bank transfer on the statement.
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"Automatic"
Reconciliation
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If you prefer to type the
cheque/payin numbers, type the number in the Cheque/Payin box and press
"Show Totals". Check the total is correct and then press "Reconcile".
The totals should update to show the transactions have been reconciled.
If there is a query, you can still press "Show Transactions for this
payin" to see the relevant transactions in detail.
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Bank
Statement In/Out
Report
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The report Reports/Bank
Reports/Statement Page In/Out Report is very useful for checking the
Bank Statement. It shows each statement page with the total which
should appear at the bottom.
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Bank
Statement Reports
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The
Bank Statement can be reproduced for checking by calling for
Reports/Bank and Cash Reports/Bank Statement and asking for the
statements since a given
number. The statement cannot be reproduced exactly because it would be
extra work to specify exactly which order the transactions cleared the
bank in, which is, of course, the order on the Bank Statement itself.
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