Content Comparison

Select the Bank Account that you wish to reconcile, and click Search.

Then click the New button.

Complete the following fields:

• Statement Date - enter the Statement Date show showing on the bank statement. 
• Statement Amount - enter the closing balance showing on the bank statement.

Transactions up to and including the Statement Date that have not been reconciled will be displayed. There will likely be an amount showing in the Variance field, which should come to 0.00 when the correct transactions have been selected (the Statement Amount will equal the Ledger Balance).

Working from the bank statement, click on the check box beside each transaction that shows on the bank statement. Also tick the transaction on the bank statement (it is easiest to work from a printed copy so you can do this).

If there are entries on the bank statement that are not ticked, they must be entered into the system either by income, expense or journal entry (for more information, see the relevant sections of this manual).  It is possible to finish your bank reconciliation and still have items with a No on your screen because they have not shown on your bank statement yet, but you cannot have items on your bank statement that are not a Yes on the screen

When all transactions on the bank statement have been ticked on the statement and in ACAS, the Variance should be 0.00. Click Save and a message will appear confirming the reconciliation has been saved. 

Click Print to display and print/save the Bank Reconciliation report. Click the X to close the report.

If the reconciliation is ready to be verified, click on Bank Reco Search. Search using the correct filters. 

Highlight the reconciliation to be verified and click Verify. 

Select your search filters. These can either be one or a combination of the following

• Bank Account
• Date
• Only Unverified Statements

Click Search

Click Save at any time to save the changes that you have made, this will re-arrange the screen list so that all of those which have been selected with a Yes will be at the top of the screen and those lines that have not been selected with a No will be lower down

If there are entries on the bank statement that are not ticked, they must be entered into the system either by income, expense or journal entry (for more information, see the relevant sections of this manual).  It is possible to finish your bank reconciliation and still have items with a No on your screen because they have not shown on your bank statement yet, but you cannot have items on your bank statement that are not a Yes on the screen

Always click Save on the Bank Reconciliation screen before moving to another screen – this will save your work so far.

The Fee Entry, Interest Entry, Deposit Entry and Payment Entry buttons can be used as shortcut buttons to complete these entries. Return to the bank reconciliation after completing the necessary entries by clicking on Period Close, then on Bank Reco Search

Once you have ticked off  said Yes to every item that is showing on your bank statement the field showing Variance should be $0.00.  This is what you want to see. 
If it is not 0.00 you need to find out why.  A monthly report should never be finalised by doing a Period Close if a bank reconciliation does not show a zero in the Variance box. Contact your TOORS support personnel at your local conference office if you need further assistance

Once the Variance of $0.00 shows on the bank reconciliation screen, click Save

Click the Print button to print the reconciliation report

This process must be completed for each bank account, each month