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Bank Reconciliation - SEDC Bank Reconciliation Modules •Modules •Bank Deposits •Clear Records...

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Bank Reconciliation Midwest Users Conference Justin Cox, Patty Holt & LeAyn Walton
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Page 1: Bank Reconciliation - SEDC Bank Reconciliation Modules •Modules •Bank Deposits •Clear Records •Import Bank File •Adjustments •Bank Reconciliation •Audit Reports

Bank Reconciliation

Midwest Users Conference

Justin Cox, Patty Holt & LeAyn Walton

Page 2: Bank Reconciliation - SEDC Bank Reconciliation Modules •Modules •Bank Deposits •Clear Records •Import Bank File •Adjustments •Bank Reconciliation •Audit Reports

Different Bank Reconciliation Modules

•Modules•Bank Deposits•Clear Records• Import Bank File•Adjustments•Bank Reconciliation•Audit Reports

Page 3: Bank Reconciliation - SEDC Bank Reconciliation Modules •Modules •Bank Deposits •Clear Records •Import Bank File •Adjustments •Bank Reconciliation •Audit Reports

Bank Deposits

• This module has been created for you to be able to enter in bank deposits, line by line, to be compared against the bank statement for reconciliation.

• After entering records through Deposit Entry, the user may view and edit these records in the detail

• The user can view past deposits by entering in from and thru dates list.

• Can be imported via disk file

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Clear Records• Clear Records has been created for you to be able to clear deposits in

the General Accounting System.

• An additional feature of the clear records module is that it allows you to clear records not only from the General Accounting System, but also from the Consumer Accounting System and the Capital Credit System.

• You have the option to either, post clear dates to a set of records, or remove clear dates from a set of records.

• Can be imported via a disk file

• These clear dates are inserted (or removed) on click of update.

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Import Bank File• The Import Bank File module gives you the ability to search for and

select bank files that you wish to import. These bank files can later be compared against entered information that you would like to clear.

• The Record Option in the Header Section allows the user to import from Accounts Payable, Capital Credit Checks, Consumer Accounting Checks, Payroll, and All.

• The Import Bank File module allows two different formats on import: Excel and CSV.

• The review list of Import Bank File is populated with the checks that did not clear and their reasoning.

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Page 10: Bank Reconciliation - SEDC Bank Reconciliation Modules •Modules •Bank Deposits •Clear Records •Import Bank File •Adjustments •Bank Reconciliation •Audit Reports
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Adjustments• Due to the fact that you may have many adjustment types, we have

created a hard coded Adjustment type list that you see here. This predefined ADJ. Type list will allow you to save time in the adj. module.

• This module was created to allow you to make adjustments that will reconcile your bank and book balances.

• You will select the bank account you wish to reconcile and then, in the detail entry section, you will enter in individual adjustments with the goal of reconciling the book and bank balances of the chosen account.

• The review list will display all adjustments between the from and thru dates for the chosen account.

• The user can modify the adjustments in the review list.• Doesn’t affect GL until Bank Reconciliation is complete

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Audit Reports

• Audit Reports option was created as the reporting system for the entire Bank Reconciliation process.

• This reporting system is similar to running the Check Reconciliation Report Batch Program.

• From here you will be able to view, export, and print reports pertaining to the whole Bank Reconciliation process.

• You will also be able to view reports from the Consumer Accounting System and the Capital Credits System.

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Bank Reconciliation• This module is comprehensive in that it will allow you to perform all of your

reconciliation tasks from a single location within UPN, instead of having to go to each of the previously mentioned sub modules.

• Within Bank Reconciliation, you may reconcile your imported bank statements with the amount entered through the deposit module. The goal is for the Diff (difference) between the Adjusted Book Balance and the Adjusted Bank Balance to equal zero.

• Most of these fields are calculation fields that will help you during your reconciliation process.

• Once you have created a Diff (Difference) of zero between the Adjusted Book Balance and the Adjusted Bank Balance, the Reconcile button becomes enabled.

• On Click of the Reconcile button, Audit Reports are created and you are asked if you truly wish to reconcile. On click of yes, the Account is reconciled.

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