Reconciling Bank Statements Manually

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Distribution

CM Bank Reconciliation Accountant

Related Procedures

None

Ownership

The Director of Accounting Services is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

IS Cash Management
N ® Bank Reconciliation ® Bank Statements
B ® Find
Bank Statement

How to Reconcile Bank Statements Manually

With IS Cash Management, you can reconcile bank statements manually or automatically. You can use the manual method to reconcile any bank statement you imported or entered. In addition, you can create new bank statement lines as you reconcile transactions and update the reconciliation information for a previously manually or automatically reconciled statement. To manually reconcile a bank statement:

1. In the Find Bank Statements window, enter the criteria for the bank statement that you want to reconcile.

2. Click Find to open the Reconcile Bank Statements window.

3. From the Reconcile Bank Statements window, select the statement and choose Review to open the Bank Statement window.

4. Click Lines to open the Bank Statement Lines window.

5. Select the line that you want to reconcile.

6. Click Available to search for detail transactions that are available for reconciliation.

7. Enter your search criteria in the Find Transactions window.

8. Select the Find button.

9. Click Reconcile to reconcile the selected transactions against the current statement line. The amount reconciled for the statement line should be the same as the entered amount.

10. Click Previous or Next to move to another statement line. The amount reconciled and the amount remaining is updated as you change statement lines.

11. Notify Accounts Receivable of any NSF or rejected bank transactions.

Accounts Receivable will reverse the original receipt. After which you will be able to reconcile the reversed receipt to the NSF bank transaction.

12. Navigate to the Statement Lines window to review reconciliation information.

13. After completing the reconciliation select the Complete check box in the Bank Statement window.

14. Save your work.

Effective: 08/18/04

Revision: 2

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