What are the Steps for Check Reconciliation?

Question:

What are the Steps for Check Reconciliation?

Resolution:

From the AP Main Menu go to A/P Check Reconciliation. 

This menu option enables on-line reconciliation of Accounts Payable checks, (computer, hand checks and electronic disbursements) for each active bank.  Since the system has stored each issued check in a special file, the operator need only enter the individual numbers of the checks to be reconciled or a range of check numbers.  It is not necessary to put the checks in numeric order prior to entering them - the edit list is printed in the same sequence as the checks are entered.  Upon selection of this menu option, a screen like that shown below appears. (See NOTE below for exceptions.)  Key in the corp# and bank# for the reconciliation, the reconciliation date, (if different from the system date, and the status code to assign, (R=Reconciled, C=Clear Status).

               a/p check reconciliation

               corp#.................
               bank#.................
               date  7/25/89
               status (r/c)........
               check#............  -  ............
               amount (optional).....

**NOTE** If ‘XP’ profile #12-Multi-Entity Check Rec. is set to ‘Y’ , and you are performing a check reconciliation for a common bank# used in multiple corporations, key ‘999’ in the corp# field.  This causes the system to lock for the check#s in any corporation for the bank# entered.

Once these fields have been keyed, you can enter the first check# and press FIELD EXIT.  If the check# is a valid one for the designated Corp/Bank, the system displays the vendor# and name, check amount, check date, and a blank status.  Visually verify that this is the right check and press ENTER to process.  Continue with the rest of the checks.