Running the Check Reconciliation Report

Running the Check Reconciliation Report

Run the Check Reconciliation Report to complete the reconciliation process, and to clear confirmed transactions.

IMPORTANT: This report ties back to the Consolidated Trial Balance for checking in General Ledger and will not allow you to close unless AP Reconciliation matches the General Ledger.

1. In the Accounts Payable module, click the Reconciliation supertab, and then click the Processes tab.

2. Select Check Reconciliation Report from the Reconciliation Processes list and then click the Run Process button. The Check Reconciliation Report window opens.

Check Reconciliation Report Window

3. Enter the Account Code (natural General Ledger account number) for the account you want to reconcile. If you are not sure of the natural account number, click the Lookup button (looks like a magnifying glass) next to this field to select the desired account.

NOTE: Once you select an account, the Opening Bank Balance field is automatically populated. This amount will be equal to the reconciled amount from the last time you balanced the checking account, or the beginning balance that you entered when you created the account (if this is the first time you are reconciling the account).

4. Enter the Statement Bank Balance from your bank statement.

5. Enter the Transactions From/Through dates to limit the transactions that appear on the report based on the transaction date.

NOTE: You should enter a date in the From field that is either the first date that you used the Accounts Payable module, or another, later date that is early enough to include all unreconciled transactions.

6. (Optional) If you want to limit the transactions that appear on the report based on their reconciliation date, enter the desired reconciliation dates in the Date Reconciled From/Through fields.

7. Click the arrow in the Sort By drop-down and select the field that you want to use to sort the report results: Check Number and Date.

8. (Optional) If you want to include transactions that have already cleared on the report, select the Display Cleared Transactions checkbox.

9. Click OK.

10. Verify the Send To destination, and then click the Run Report button to open the report in the FIMS Viewer.

NOTE: If the Statement Bank Balance that you entered does not equal the computed balance, a warning message will appear to inform you that the account is not balanced and you will not be able to close until you correct the errors.

Unbalanced Account Message
Example: Check Reconciliation Report (Partial)

11. Review the report to make sure that the account is in balance and then click Close on the FIMS Viewer menu bar to close the transactions and update the account balance. 

NOTE: The Book Balance in this report should be compared to the Consolidated Trial Balance for the period. This comparison will help to ensure that the appropriate General Ledger Journal entries have been made to reflect manually entered transactions from the Check Reconciliation process.

Running the Check Transaction Listing

The Check Transaction Listing lists reconciliation transactions including checks, voids, deposits, interest, and fees. The listing includes columns for the reconciliation date, the account number, and whether the reconciled item has been closed. You can select, sort, and subtotal the report based on the check number, check date, payee, reconciliation date, amount, and item type.

1. In the Accounts Payable module, click the Reconciliation super tab, and then click the Processes tab.

2. Select Check Transaction Listing from the Reconciliation Processes list and then click the Run Process button. The FIMS Report Selections window opens.

3. Configure the desired Selection and Sorting criteria as you would for any standard FIMS report and then click the Run Report button.

Example: Check Transaction Listing