Bank Reconciliation

Some additional features have been added to the Bank Reconciliation option to improve this action.

Pre-Enter Closing Balance

This new option allows you to pre-enter the closing balance the reconciliation must match before you can update the reconciliation.

If configured, entry of the closing balance is mandatory and you cannot update the reconciliation without the running balance of the reconciliation matching the pre-entered closing balance. If you attempt to update the reconciliation without the matching balance you will be warned accordingly.

On update of the bank reconciliation – either via selection of the UPDATE button or pressing the <ESC> key – you will be warned if the running balance does not match that of the pre-entered closing balance. You are given three options – Edit Balance which allows you to amend the pre-entered closing balance on the assumption that you may have mistyped it, Edit Items which returns you to the transactions available for reconciliation, or, Abandon which exits the reconciliation procedure without updating the details.

Exclude Reconciled Transactions

The reconciliation process asks, as a run-time prompt, whether you wish to exclude previously reconciled transactions. Whilst it would be normal to exclude you may want to include earlier reconciled transactions to make adjustments for errors. The default for this option is that previously reconciled transactions are included subject to the date range of the statement. A new parameter within the Application User Facilities allows you to set the default to exclude previously reconciled transactions.

Save Reconciliation ‘In-Progress’

Reconciliation can be a long process depending on the number of transactions involved and you may not be able to complete it in one session. Previously you had two choices – abandon the reconciliation and start again next time, or update the reconciliation possibly causing issues if you have to clear previously reconciled transactions. A new option has been added that will allow you to save a reconciliation that is ‘in progress’ and continue from here next time.

When you choose the UPDATE option or press <ESC> and the running balance doesn’t match the pre-entered closing balance then in addition to the options discussed above, if configured to save a reconciliation, a SAVE button will be available. When selected the details of the reconciliation are saved and you are returned to the menu.

Next time you enter the reconciliation process, after selection of the account, you will be warned that the previous reconciliation was not completed and you are offered options to continue the reconciliation, or to start anew.

If choose CONTINUE then, once you have returned through the remainder of the parameters, the saved reconciliation details are re-displayed. If you choose to START NEW then the saved reconciliation details are cleared and you can start the reconciliation process again.

You can save the reconciliation as many times as you like – each time you re-start you are asked whether you wish to continue from where you left off, or to go back to the beginning.

Installation

Database Changes

To allow the ‘Save Reconciliation’ option two new items are required on the nominal accounts database – one on the Nominal Accounts File (NLA) and one on the Nominal Transaction File (NLT).

File Item Name Type Description

NLA REC-IN-PROG K, L Holds the entered closing balance

NLT REC-IN-PROG ? Holds temporary reconciled flag

Database Profiles

The new items above need to be referenced within the Database Profiles. The NLA item is referenced on ‘Account Cash Book’, the NLT item on ‘Trans Optional 1’.

Application User Facilities

Within the ‘Bank Reconciliation’ options the ‘Bank Reconcile’ parameter screen allows you to enable the option to pre-enter the closing balance, and to default to exclude previously reconciled transactions.

Default to exclude previously rec. items – set to default to exclude previously reconciled items.

Force input of the closing balance – set to prompt, and force input, of the closing statement balance when reconciling the bank account.