Month End > Bank Reconciliation Summary

The bank reconciliation menu is where you can upload your bank statements to match against the transactions in WorkBook. It’s also a good resource to see what’s been imported and what’s still outstanding.

ON THIS PAGE YOU WILL FIND:

ON THIS PAGE YOU WILL FIND:
1 NAVIGATION 2 BANK ACCOUNT TAB SUMMARY 3 CLOSED RECONCILIATIONS TAB SUMMARY 4 IMPORT FILE TAB SUMMARY 5 RECONCILE TAB SUMMARY

NAVIGATION

Go to the finance & administration module > month-end sub menu > bank reconciliation
There are 4 tabs across the top, we have broken these down into separate sections:

BANK ACCOUNT TAB SUMMARY

Select the bank account here > then proceed to the other tabs and view information specific to that account

CLOSED RECONCILIATIONS TAB SUMMARY

Once you’ve closed a bank reconciliation, you can view it here.

Click on the closed reconciliation line entry, the transactions will appear in the panel at the bottom

IMPORT FILE TAB SUMMARY

The import file tab is where you can upload bank statements but also view previous uploads.

Tip: If you’re looking for the last date of your import, this is the best place to look.

Click on the import line to see which transactions were captured in the upload

NUMBER	FUNCTION	DESCRIPTION

NUMBER	FUNCTION	DESCRIPTION
1	Import	This opens the import dialogue box where you set the parameters of your bank statement import
2	Delete	If a bank reconciliation hasn’t been closed, you can delete the bank statement
3	Edit	This allows you to edit the starting balance of the import
4	Clear error	If there’s an error on a bank statement line, you can clear it by selecting the line and clicking here. If the system has created this error, use this function with caution. Check the error message on the line before proceeding.
5	Add error	You can exclude a line on the bank statement by adding an error. This will prevent it from showing on the reconcile page. Tip: This function is useful for duplicate lines. When the error is applied, an error message will show ‘manually excluded’.

RECONCILE TAB SUMMARY

Once you’ve uploaded your bank transactions, they will show in this tab. You can then match them to the transactions in WorkBook.

Understanding each area of the reconciliation:

NUMBER	AREA DESCRIPTION

NUMBER	AREA DESCRIPTION
1	WorkBook Transactions This is a list of all the transactions which have been entered in WorkBook since the last time a reconciliation was closed. If they’re unticked, they haven’t been matched against a bank transaction
2	Bank Transactions Once you’ve uploaded your bank transactions in the import tab, you’ll be able to see them here
3	Reconciled Transactions The WorkBook Transactions which have been reconciled will show here
4	Reconciled Transaction Information By clicking on a transaction in box 3, you can see what type of transaction it was reconciled against: - bank transaction - finance transaction

Navigating the menu items:

NUMBER	FUNCTION	DESCRIPTION/HOW TO USE

NUMBER	FUNCTION	DESCRIPTION/HOW TO USE
1	Approve	When the transactions in box 1 match box 2: Click on approve to reconcile Only required if close elimination when in balance is unticked
2	Remove eliminations	In box 1 or 2 (with hide eliminations unticked): Select the transaction you want to remove the elimination from Click on remove eliminations
3	Finalize Eliminations	Once you’re ready to finalize your eliminations: Click on finalize eliminations Enter a name and a date Once you do this, you will no longer see the transactions, as they will have moved to the closed reconciliations tab.
4	Delete current entry	No longer available
5	Show/hide eliminations/status	This is where you can toggle the bottom boxes on and off
6	Auto elimination	This automatically eliminates transactions that match
7	Date	To only show transactions before a certain date, enter that date here
8	Hide eliminations	When this is ticked, you only see transactions that are waiting for elimination Tip: We recommend having this turned on.
9	Close elimination when in balance	When this is ticked, you can: Tick matching transactions Click away (to save the entry) and the transaction will move to box 3. Tip: We recommend having this turned on.
10	Generate and finalize a journal entry for the selected bank transaction	This can be used for transactions such as bank fees. It automatically creates a journal entry so that you can match to it.

Continue on to our Bank Reconciliation How To guide.

Deltek WorkBook