Reconciling Transactions

Reconciling Transactions

Once you get your bank statement, you can use the Reconciliation system to reconcile your FIMS transactions with your bank account.

The following procedure provides steps for manually reconciling transactions. FIMS also provides a utility that allows you to use a spreadsheet to import cleared check data and update the date in the Reconciled field with the date from your bank statement. Refer to Importing / Updating Cleared Check Data for more information.

1. In the Accounts Payable module, click the Reconciliation supertab.

NOTE: If this is the first time you have used the Reconciliation supertab in this session, the Reconciliation Data Grid will automatically open. If it does not, click the Search button on the toolbar (looks like binoculars) to open the Data Grid.

2. Select the checking account that you want to reconcile (many organizations only have one checking account) and then click the Transactions tab.

Transactions Tab

3. Do one of the following:

• Select the transaction you want to reconcile and enter the reconciliation date in the Reconciled field (in the Data Grid section).
• Enter a Reconciliation Date and then select each transaction you want to reconcile and click the Reconcile Selected Items button.

  NOTE: You can hold down the Shift key and click to select a contiguous group of transactions or hold down the Ctrl key and click to select a non-contiguous group of transactions.

NOTE: You can sort the grid by Transaction Date, Transaction Amount, Transaction Type, Payee Name, Reconciliation Date.