Account Reconciliation
Account Reconciliation
The Account Reconciliation is a new feature available on the Accounting Tab to help users reconcile a specific GL Account.
The option is available if the Account Reconciliation Security is set on the Accounting Tab in the Security Window.
This new screen will allow the user to enter a g/l account and reconciliation date to reconcile the account. If it is the first time that the g/l account has been reconciled we will allow for the entry of a beginning balance.
If the g/l account has been reconciled previously the reconciliation date will be displayed below the reconciliation date.
There can only be one open reconciliation for a specific g/l account.
The user can select to display debits, credits as well as entries after the reconciliation date.
The Display Records button will display all records.
If the user needs to do a journal entry to account for a missing item such as bank fees they can take the Journal Entry button and that will allow them to do the journal entry and then come back and display it in the datagird.
Once the beginning balance plus/minus the debits and credits equals the ending balance the Finalize button will be enabled and that will allow the user to complete the reconciliation process.
Related Articles
Parts Inventory Reconciliation (not using WIP)
To reconcile inventory, there are a few variables that need to be considered when looking at your physical valuation when comparing it to the GL account balance. First, the costing method being used to value inventory will be either replacement cost ...Why does my account still have a balance when I closed the fiscal year?
While some accounts will close and reset to zero in the process of a fiscal year end, some will retain their balance and carry the balance forward to the next year. The temporary accounts get closed at the end of an accounting year. Temporary ...How to set up core parts to post to a different account.
Our recommendation would be to set up a new parts group for your core part numbers in the parts setup tab under Groups. When setting up that parts group, you can then denote an inventory account for that group, which would be your Cores inventory ...Release Notes - Build 3.10
Release Notes - Build 3.10 Enhancements Account Reconciliation The Account Reconciliation is a new feature available on the Accounting Tab to help users reconcile a specific GL Account. The option is available if the Account Reconciliation Security ...How to use the Positive Pay Report in Softbase
Softbase has a Positive Pay Report located under the AP sections of the reports (you may need permission to access if you don't see it) that would include the check no, amount, date, and payee information that you can export to excel and then save as ...