Bank Reconciliation First Time Setup

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1 Overview Bank Reconciliation First Time Setup First Time Setup is necessary to prepare an account for the DPHS Bank Reconciliation process. Important: For new installations, be sure all General Ledger history is loaded prior to attempting First Time Setup in the Live Data Plus system. It is important to have a good starting balance in General Ledger priorr to performing First Time Setup. Before beginning this process, make sure the accounts to be reconciled through the Bank Reconciliation application have been manually reconciled up through the date with which the Bank Reconciliation process is to start. This includes cancelling checks in the Accounts Payable application. NOTE: Any checks to be cancelled through the Bank Reconciliation process will be done automatically when the reconciliation is completed and posted. Navigate to: Bank Reconciliation>Transactions>First Time Setup Page 1 of 9

2 In the Bank Account field, enter or select an account number in the search. Only bank accounts for which no reconciliation process has been started will be available in the list. Highlight the account to reconcile and click Select. Page 2 of 9

3 Enter the previous statement information from your bank statement. Statement Ending Date Enter the ending date from the bank statement. Statement Ending Balance Enter the ending balance from the bank statement. The system will populate the DPHS Month/Year based on the Statement Ending Date, and will use this to determine what are reconciling items and what are General Ledger transactions to be used in future reconciliations. Click Continue. NOTE: If there are multiple G/L accounts assigned to this Bank Account, the transactions used in this reconciliation will be for all accounts. The first message will display how many reconciling items have been created from Accounts Payable. These will be checks which have not been cancelled in A/P. Page 3 of 9

4 The second message will display how many additional transactions G/L activity (deposits, adjustments, credit card entries, etc.) have been imported into Bank Reconciliation. The First Time Setup screen will be displayed. The browse on the left displays any open (reconciling) items in G/L. This will only display open checks prior to the date that was entered on the original setup screen. If there are any journal entries or miscellaneous items in G/L that are needed to put this First Time Setup in balance, there will need to be Miscellaneous Reconciling Items entered. Page 4 of 9

5 The browse on the right is for display only. It is a list of all the G/L transactions AFTER the cutoff date used in the original setup screen. In subsequent reconciliation screens, only items for the month being reconciled will be displayed. Double-click on any item in a browse to view the detail. Reconciling Items If the Bank Balance differs from the Ending G/L balance, there must be miscellaneous reconciling items to be entered. There are two ways of entering miscellaneous reconciling items into First Time Setup: 1) Import Reconciling Items - This is convenient where there are a lot of items. 2) Additional Reconciling Items- A manual way of entering reconciling items. Import Reconciling Items When there are a lot of entries to be made as reconciling items, they can be imported from a spreadsheet, much like a journal entry. The format for the file is as follows: A(1) Bank Account Integer Number B(2) General Ledger Alphanumeric Account C(3) Transaction Date MM/DD/YY D(4) Check Number Integer E(5) Amount Decimal F(6) Post Month Integer G(7) Post Year Integer H(8) Transaction Alphanumeric Description I(9) Comments Alphanumeric J(10) Subsidiary Name Alphanumeric K(11) Journal Code Alphanumeric L(12) Check Suffix Alphanumeric M(13) Record Source Alpha N(14) Type of Bank Trx Alpha O(15) FIT Unique ID Alphanumeric Account number assigned by the bank for each check/transaction. General Ledger Account number used for the Cash Account against which the check/transaction was issued Check date - valid date in session defined format (dmy, mdy, or ymd) If applicable Transaction amount Will be converted to Fiscal Will be converted to Fiscal This is optional and can be left blank This is optional and can be left blank. Vendor Name (Optional) Journal Code (Optional) Check Suffix (Optional) Options are G/L Transaction, Bank Transaction, Difference, Outside Payroll, Import (Optional) Deposit, WT, Check, Fee, etc (Optional) Bank Trx only The spreadsheet will look something like this: Page 5 of 9

6 Before importing the file, delete the first line and save the file as a CSV. To import the file, click on Import Reconciling Items. On the screen that appears, enter reconciling items: or search for the location and file that was created for the Click Import Data, and the information in the file will appear in the browse: If the information looks good, click Process Data. This will move the imported transactions to the Open Reconciliation Transactions browse: Page 6 of 9

7 Additional Reconciling Items Miscellaneous Reconciling Items can also be manually entered, especially if there are only a few of them. Click the Additional Reconciling Items button to add any additional items that are needed to balance the G/L ending balance to the bank balance. Any items affecting the bank balance that users have been tracking manually will need to be added here. Also, any journal entries for the previous month that have not been reconciled to the bank will need to be entered. Where these are reconciling items, the key to remember is that the amount is being added back to the G/L balance. Page 7 of 9

8 Example: A check is normally deducted from the Cash Account. If there is a check that needs to be added as a reconciling item, it needs to be entered as a positive number. If the miscellaneous reconciling item is a journal entry for a deposit, it needs to be added as a negative number. Before completing First Time Setup, the First Time Setup Edit List can be run to validate all information recorded to this point. This step is optional. Page 8 of 9

9 Once the Adjusted G/L Total matches the Previous Statement ending balance, a message will be displayed: The Complete First Time Setup button will not be accessible until DPHS Support enables the button. Click Complete First Time Setup. A message will pop up requesting confirmation that the First Time Setup is complete. Click No to return to the First Time Setup browse; or Click Yes to complete the setup. When Yes is clicked, the following message appears: If there are any further inquiries, department. please refer to our website or contact the Data Plus Support Website Data Plus Support Ext 3 support@dphs.com Page 9 of 9