Manually Reconciling Bank Statements

Data from the journal entry lines are sorted differently after having checked Bank Reconciliation of document type used in reconciling bank statements in Document Types in order to facilitate their input. After entering required data (e.g. the account and linked document), the outstanding amount is offered automatically. Having entered data about the account and subject, you can choose from the open documents list (documents to be closed).

For effects of this parameter see Reconciling Bank Statements by Departments and Cost Centers.

Posting to a foreign currency account the current official National Bank's exchange rate is found so as to convert the foreign currency amounts to the equivalent local currency amounts. Due date is used in searching date of exchange rate.

Customer Payment

The received customer payment is posted to the credit side of the account 1200 where you have already posted customer receivables from the invoices issued.

1. Enter account number: 1200.
2. Enter name of the subject from which you received inflow. The documents and linked documents in the next two fields are filtered by subject.
3. Enter closing document in one of the following ways:

a1) Enter ID of document to close. In this case the document ID is offered automatically for linked document ID. Linked document ID can be changed subsequently. The linked document ID is usually equivalent to the internal document ID in invoices received.

a2) Select document ID by clicking of the Document field. The document list is now filtered by ALL documents of this subject. In this case the document ID is offered automatically for linked document ID. Linked document ID can be changed subsequently.

b1) Enter ID of linked document to close. In this case the document ID is found automatically in the post to be closed. The linked document ID is usually equivalent to the internal document ID in invoices issued.

a2) Select linked document ID by clicking of the corresponding field. The linked document list is now filtered by ALL OUTSTANDING ITEMS of this subject. In this case the document ID is found automatically in the post to be closed.

4. Amounts posted to credit side are offered automatically having previously entered the correct account, subject and ID of linked document. You can also change it manually (e.g. in case of partial payments).
5. Date of period from the journal entry header is used for payment date.

Payment of Supplier Invoices

Payments of supplier invoices are posted to the debit side of the account 2200, where you have already posted supplier payables on the basis of the invoices received.

1. Enter account number: 2200.
2. Enter subject to whose account the paymet will be transferred. The documents and linked documents in the next two fields are filtered by subject.
3. Enter closing document in one of the following ways (It is recommended that you follow the second method under b), though):

a1) Enter ID of document to close. In this case the document ID is offered automatically for linked document ID. This is not necessarily correct! Linked document ID can be changed subsequently. NOTE: In automatic posting of invoices received you can enter internal document ID, linked document 1 or linked document 2 in line of journal entry. Hence you also close supplier invoices.

a2) Select document ID by clicking of the Document field. The document list is now filtered by ALL documents of this subject. In this case the document ID is offered automatically for linked document ID. Linked document ID can be changed subsequently.

b1) Enter ID of linked document to close. In this case the document ID is found automatically in the post to be closed. The linked document ID is usually equivalent to the ID of supplier invoice. On the other hand, the document ID is the internal ID of received invoice.

a2) Select linked document ID by clicking of the corresponding field. The linked document list is now filtered by ALL OUTSTANDING ITEMS of this subject. In this case the document ID is found automatically in the post to be closed.

4. Amounts posted to debit side are offered automatically having previously entered the correct account, subject and ID of linked document. You can also change it manually (e.g. in case of partial payments).
5. Date of period from the journal entry header is used for payment date.

3. Enter account number.
4. Enter ID of the linked document for payment. NOT having entered the subject you cannot select linked documents from the table. The following error is returned (see Subject must be defined!).

3. Document ID, subject and outstanding payment amount are found automatically. You can also change it manually (e.g. in case of partial payments). In case there is more than one option (acount, linked document, subject) available for posting, the following window appears where the user selects the correct combination:

Select Subject window opens only in case when multiple subjects are posted to the selected account and linked document. Plus, the selected account in Chart of Accounts is marked as subject account.

When reconciling statements the period date is the value date from journal entry header.

The posting date is the entry or record date of the statement.

When checking outstanding items, calculating exchange rate differences, interest calculation, etc you have to check due date of post or document to view when the document was paid. When reconciling document types and trying to refresh a line of journal entry validation is run for the period date in the journal entry header and the due date in line. If not so, the following warning is returned (see Document due date is different from journal entry period!). ).

If the period date of the journal entry to be reconciled is subsequently changed, you also have to change the corresponding dates in the journal entry line. In the wizards menu you can find an option for correcting posting dates in lines.

Related topics:

• Bank Reconciliation - General
•  
• Reconciling Bank Statements by Departments and Cost Centers
• Manual Input of Journal Entry Lines
• Manual Input of Foreign Currency Posts

For a general description of functions see:

• Manual Posting and the Journal Entry