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Then you can assign cards that operate on the account to people (expenses) or Assets

OLD Bank Reconcilation - Enter an opening balance for the bank account

An opening balance is simply a journal - one side is the current bank (or credit account) balance - the other side is normally formation assets or an account chosen by your accountant

 Any journal to a bank account once reconciled cannot be changed.  It is recommended therefore that opening balance journals NOT include a line for the bank account - but this is done as a separate journal so the opening balance journal can later be changed if required.

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And the Asset will be linked to the $ and L from the line on the creditor Invoice

Credit Card Payments using Credit Card Terminals

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The batch is cleared in the bank account using the normal method - see ReconcilingCreditCardBatchesBatches

Credit Card Payments using credit card gateways like Eway

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The POS looks for the Tyro Software installed on the local machine

OLD Bank Reconciliation Format

The POS then passes the amount to be paid to the Tyro software which passes it to the Tyro Cloud which puts it onto the device (so internet connection is required)

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If the totals are not the same as deposited or reported by Tyro - right click to open the batch an investigate all transactions involved

Clearing CC Batches in OLD Bank Statement

1. Although the payments are grouped together - we have found that the credit card gateways frequently send a different $ amount to what we would expect based on the payments sent to them.
   1. Reasons for this include - fees they may take out, charges they may add, reversals from failures of payment and other reasons.  
   2. So - when you look at the bank reconciliation we have a list of the expected total from the Credit Card Gateway (the batch total) that you can see.
   3. If the amount they put into your bank is the same as we expected - simply right click and "clear all in batch" on the batch - and it will tick all transactions as included in the statement.

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How does the cash deposited appear in the OLD bank statement

Cash batches appear as a single journal line in the bank statement ( A yellow General Journal) as all the cash was deposited as a single cash amount

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Note that the transactions listed will be any transactions prior to the Reconciliation date that have not yet been reconciled. 

OLD Bank Reconcilation - Reconciling individual transactions

Next you need to look through your bank statement to find transactions to clear.  Normally you have a printed out statement and you tick off each transaction as you find it.

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The bank reconciliation shows some transactions that are part of a credit card batch (see credit card section above in this document) - If the amount we say should be there is the same as in the bank statement you can clear these using a rightclick.

OLD Bank Reconcilation -Reconciling Credit Card Batches Batches

The bottom RHS of the screen has a list of batches.  A batch is a group of transactions.  As you can see all the individual transactions are still visible in the bank statement - this is because it is common that what we expect and what is paid to you will often be different - because of fees, bounced transactions and other reasons.  You can quickly clear all in batch using a right click if the values match.  Otherwise you will need to use the credit card statement to clear them independently.

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Remember that this is a grid like anywhere else in the system - so you can filter the transactions (CNTRL F) or top LHS of grid for filter - it will filter using any information in the grid

OLD Bank Reconcilation - Filtering the transaction list

using letters

Filtering using numbers

OLD Bank Reconcilation -Review of past reconciliations including the PDF report

At any time you can print a preview of the reconciliation report using the print button.

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This is what the report looks like

Note
The saved report shows exactly the situation at the time of doing the bank Req - there are two numbers that may now be different... When viewing a closed bank Req - the unpresented values are live values (not saved ones).  Hence they will show you if any transactions prior to the reconcilation date have STILL not been cleared. The saved report shows accurately at the time of doing the bank req: The Journals that were cleared The Journals that are before the reconciliation date that had not been cleared at that time If a journal is not cleared for a number of reconciliations - it will be listed in each report as uncleared.  Journals that have not been cleared in the bank req can still be adjusted. The Bank Balance is often not the same as the Balance sheet balance - due to un-presented transactions. If at the time of doing a bank req you have unpresented payments or receipts (this is common) These will not add to the bank req balance at the time of the bank balance These will add to the balance sheet value of the bank balance If you want to change this Update the dates of all the unpresented transactions to be after the date of the bank req before saving the bank req The numbers on the saved reports are expected to vary with the balance sheet balance at the date - this is best illustrated with an example: Two cheques are entered into the system for an empty bank account dated 1st August (note I have used cheques but any transaction type applies here)  $100  and $1,000 You do a bank req on 7th August and only the $100 is there - the $1,000 has not yet been presented. no problem as the $1,000 will be listed in the next bank req in case they have deposited it by then As the date on the journals is 1 August the GL Balance for the bank account is $1,100 on the 7th August - this is what will show on the balance sheet  The Bank balance will therefore be different to the Balance sheet balance as it will be $100 The $1,000 transaction has not yet been reconciled with the bank so it can be changed / deleted etc if required. If the date of the $1,000 is changed to a date after the 7th August then the balance sheet will now equal the bank balance. Say we change the date on the $1,000 cheque transaction to the 9th August The saved bank req report will still list this transaction as unpresented - it shows the system at the time of doing the bank req Viewing the details of the closed bank req in the screen will now show $0 un-presented (a different figure to the saved report) as this figure shows unpresented transactions that are prior to the reconciliation date NOW (not as at the date of the reconciliation).

OLD Bank Reconcilation - Deleting Bank Reconcilations

1. Go to Bank Reconciliation for the bank account affected
2. You can only delete reconciliations if you have the Locked one selected - then right click on the ones to delete.
3. You can only delete the latest Closed reconciliation (and then once that has been deleted the next most recent etc).
4. Note that you may need to clear the date range on the filter to see all bank reconciliations.
5. Delete reconciliations as far back as you need to including the first reconciliation

Note - if you need to delete the first reconciliation check to make sure that the GL account does not have any transactions prior to the from date of the first reconciliation.

OLD Bank Reconcilation - Uploading the bank statement - and find the matches quickly

Why upload the bank statement?  If all your transactions are already in the system you do not need to upload the bank statement.

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In the GL - flag the GL account as "Disallow new entries" so it cannot be used as a bank account any more.

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