Bank Reconciliation

Purpose of this document

When you maintain the information about Bank accounts in Ceres, you must reconcile them on a regular basis. The process defined here assist with checking the entries and the balances on your accounts against the statements from the bank.

Ceres Object release 6.00.00 is required for the functionality described in this document.

TABLE OF CONTENTS

• Creating and Posting a Bank Account Reconciliation

Creating and Posting a Bank Account Reconciliation

1. Purchase Orders can be accessed by selecting “Search” from the Dynamics 365 Business Central Banner and entering “Bank Account Reconciliations” in “Tell me what you want to do” then selecting “Bank Account Reconciliations” from the results in the Go to Pages and Tasks section OR by selecting the “Bank Account Reconciliations” menu action (if present) from your Role Center home page.

2. To create a new Bank Account Reconciliation, select Actions/Document/New.

Bank Account No.: Select the Bank Account Code for the account you are reconciling.

Statement No.: Ceres automatically fills in the Statement No. field based on the information on the bank account card.

Statement Date: Enter the date of the statement from the bank. This field is also used to filter the G/L Entries that display in the G/L Balance $ field.

Cleared With./Chks. Per Stmt.: Input from the bank statement, the checks and other withdrawals that cleared.

Cleared Inc./Dpsts. Per Stmt.: Input form the bank statement, the deposits and other incoming transactions that cleared.

Balance on Statement: Input the ending bank balance per the bank statement.

3. The Bank Account Lines in the Checks Lines and Deposits/Transfer FastTabs is where the actual reconciliation is performed by indicating which lines have cleared.
4. To bring the lines in, select Actions/Functions/Suggest Lines.

5. From the Bank Rec. Process Lines Page, select the Record Type to process (Checks, Deposits, or Both) and whether you want to replace the existing lines.
6. In the Posting Date field, enter the starting posting date for the Ledger Entries to be reconciled. In the Ending Date field, enter the ending date for these Ledger Entries.

7. Click OK. Ceres then fills in the lines on the Checks FastTab and the Deposit/Transfers FastTab. and. The outstanding checks are updated on the Checks FastTab, and the outstanding deposits and transfers are updated on the Deposit/Transfers FastTab.

8. Open the Checks FastTab and place a checkmark in the Cleared field for each check that cleared the bank. This process can be automated by running the Mark Lines Function from Actions/Functions/Mark Lines.

9. Open the Deposit/Transfers FastTab repeat the process by placing a checkmark in the Cleared field for each deposit or transfer that cleared the bank. This process can be automated by running the Mark Lines Function from Actions/Functions/Mark Lines.
10. Click OK. Ceres will mark the lines as cleared based on the filters that were set.

11. Correct the lines, if necessary, by un-checking the checks or deposits that have not been cleared.
12. If a check or deposit cleared for a different amount update the Cleared Amount field.
13. You can start over by clearing all lines. To clear the lines, click on the Actions Tab of the menu and select Clear Lines.
14. Repeat the steps above for the deposits and transfers.
15. Open the Adjustment FastTab and enter a new line with any transaction from the bank statement that does not appear on the reconciliation lines, such as bank fees. Any amounts entered on the Adjustment FastTab will be posted as a Journal Entry when the Bank Reconciliation is posted.

16.  Open the General FastTab and confirm that Difference is $0.  If not, verify the amounts you input and the checks and deposits that are marked as cleared.   The Bank Reconciliation cannot be posted until the Difference is $0.

17. To print the Bank Reconciliation Test Report, select Actions/Posting/Test Report.

18. From the Bank Rec Test Report Page, select what you want to print on the Report. The easiest way to do this is to toggle on Print details (which toggles on all fields) and then toggle off what you do not want to include.

19. In the below example, Adjustments, Outstanding Checks, and Outstanding Deposits were selected. Then select Print to print a hardcopy or Preview to preview the Report.

20.  To post the Bank Reconciliation, select Actions/Posting/Post or Post and Print.
21. Posted bank reconciliations can be viewed from the Bank Account Card by selecting Related/Bank Acc./Posted Reconciliations.

22. Highlight the posted bank reconciliation you want to view and select View or click the bank account number.