Bank Reconciliation - Adjustments, Bank Transfers

Last Updated  October 31, 2011

The Ledger Transactions and Transfers tabs on the Bank Reconciliation screen offer additional functionality to help you manage your reconciliation tasks. The Ledger Transactions tab can be used to enter manual adjustments such as bank fees, interest, deposits, etc. or to see a bank account balance. The Transfers tab can be used to record transfer from one account to another within the same bank.

Users must be assigned the GLTAXLEDGE_FOUNDATION role and the following user entitlements in the Tax Collection System. Click here to see how these roles are used to perform certain reconciliation actions. For V2 user security, the following tasks can be assigned: Automatic Clear, Manage Ledger Adjustments, and Manage Bank Transfers

ACTGL_BANK_RECON allows access to the Reconciliation screen.

GLRECON_SUPER – allow users to use the automated load process, to manually clear and unclear checks, and to do adjustments and transfers.

GLRECON_VIEW_ADJ - allow users to access the Transfers tab on the Ledger Transactions tab - view only.

GLRECON_DELETE_ADJ - activate the Delete checkbox on the Ledger Transactions tab . Users must also have the GLRECON_SAVE_ADJ entitlement. Users can delete only check reconciliation items that have been entered on this tab. They cannot delete checks processed through the Check Writer.

GLRECON_SAVE_ADJ - activate the Process button on the Ledger Transactions tab. Users are able to add and change entries.

GLRECON_VIEW_ XFER - allow users to access the Transfers tab on the Transfers tab - view only.

GLRECON_DELETE_ XFER - activate the Delete checkbox on the Transfers tab. Users must also have the GLRECON_SAVE_XFER entitlement.

GLRECON_SAVE_ XFER - activate the Process button on the Transfer tab . Users are able to add and change entries.

To enter manual adjustments such as bank fees, interest, deposits, etc. or to see a bank account balance,

  1. Click the Ledger Transactions tab.
  2. To search for previously entered information, select a Bank from the drop-down list.
  • Select an Account from the drop-down list.
  • Select a Transaction Type: All, All Debits, or All Credits.
  • Choose a Sort Option: Check/Reference Number, Transaction Date, or Transaction Type.
  • (optional) Enter a date range in the Clear Date Range, Transaction Date Range, or Reference Number Range fields.
  • Click Search. The bottom portion of the screen fills with the requested information. The Account Balance field is the sum of the Credit Amount minus the Debit Amount IF you selected All as the Transaction Type.
  • To do a different search, enter new search criteria, then click Search again. You do not need to clear the screen at this point.
  1. To enter a new transaction, click in a blank row in the bottom part of the screen. If the screen is fully populated, you can click Clear Screen to see these empty rows.
  • Enter a Reference Number.
  • Select a Transaction Type from the drop-down list: Deposit, Bank Fee/Adjustment, Transfer, Check, ACH, or Wire.
  • Enter the Transaction Date.
  • Enter either a Debit Amount or a Credit Amount.
  • Click Process to save the data.
  1. To remove a transaction, check the Delete box next to that entry, then click Process. This does not delete the entry from the database, but sets a flag and removes the data from the screen and the account balance totals. Users can delete only reconciliation items that have been entered on this tab. If they try to delete transactions processed through the Check Writer, they will see a message asking them to void the transaction instead. If the transaction has a cleared date, users will be asked to confirm that they want to delete a cleared record.

To record transfers that are done between accounts in the same bank,

If you want to track money that has been transferred from one account to another within the same bank, you can do so on the Transfers tab of the Bank Reconciliation screen. When you search on this tab, you will only see the transfers that are related to the “from” account. You cannot see the “from” and “to” transactions together on one screen because they belong to different bank accounts. You are not actually doing the transfers on this tab; you are only entering the information for informational purposes (and to keep the Account Balance amounts correct).

  1. Click the Transfers tab.
  2. To search for previously entered information, select a Bank from the drop-down list.
  • Select a Debit Account from the drop-down list.
  • Choose a Sort Option: Reference Number, Transaction Date (a user-entered date for the transaction), or Clear Date.
  • (optional) Enter a range in the Business Date Range (the date the transfer was done), Transaction Date Range, or Reference Number Range fields.
  • Click Search. The bottom portion of the screen fills with the requested information.
  • To do a different search, enter new search criteria, then click Search again. You do not need to clear the screen at this point.
  1. To enter a new transaction, click in a blank row in the bottom part of the screen. If the screen is fully populated, you can click Clear Screen to see these empty rows.
  • Enter a Reference Number.
  • Select a Credit Account from the drop-down list. The Credit Account number auto-populates.
  • Enter a Transaction Date.
  • Enter an Amount.
  • Click Process to save the data.
  1. To remove a transaction, check the Delete box next to that entry, then click Process. This does not delete the entry from the database, but sets a flag and removes the data from the screen and the account balance totals.