Reconciliation Tool  

Cash Management Reconciliation
Step Action Note
1. Post

Ensure all entries are posted.

CM Post Entries

Click the link to start CM and then select Post Entries under the Task menu.

GL Post Entries

Click the link; then select Post Entries under the Task menu.

Note:  Review posting journals for rejecting entries that must be corrected.
2. Data Verification

Verify and correct bank account balances that do not match the transactions.

Bank Account Balance Verification

Review the bank account balance verification report to ensure that your bank account balances match the transactions.  If the derived balance and the master file balance do not match, they must be corrected. 

How to correct:

In the Knowledgebase type article number KB82605  in the Search for a Solution section, then follow the instructions in the article.
3. CM Summary

Compare CM balances to the GL balances.

CM Summary

Review this summary to determine if your GL cash account balances balance to the CM cash account balance.
If the cash accounts are in balance skip to step 6 to reconcile bank
    statements, otherwise continue with step 4. 
4. Common causes if out of balance

Unposted Transactions

Unposted CM Transactions in GL

When CM transactions are not posted or rejected in GL an out-of-balance condition results. This could occur, for example, when posting to a closed month.  This report will show you if any of these transactions exist.

How to correct:

If the rejected entry is for a future date:

In the Knowledgebase type article number KB88324 in the Search for a Solution section, then follow the instructions in the article.

If the rejected entry is for a prior period:

In the Knowledgebase type article number KB84177 in the Search for a Solution section, then follow the instructions in the article.

If the rejected entry is for a recurring transaction to a prior period:

In the Knowledgebase type article number KB66506 in the  Search for a Solution section, then follow the instructions in the article.

Transactions entered directly to the cash accounts in GL

Direct Cash Account Entries

When a manual entry is made directly to the cash account in GL an out-of-balance condition results. Select this report to identify if this is the case.

How to correct:

Reverse or delete the transaction in General Ledger and enter the correction in Cash Management.

Entry spanning two accounting periods

Change in Void Accounting Date

A common cause for out-of-balance in CM is when a voided check creates a transaction in a future period. This causes an out-of-balance situation since they cross month ends. Select this report to determine if this is the case. 

How to correct:

In the Knowledgebase type article number KB117600   in the Search for a Solution section, then follow the instruction in the article.
5. Repeat

Repeat steps 3 and 4 as needed until the CM and GL cash account totals are in balance. 

 

Proceed with step 6 after your CM cash account balances to your GL cash account.

6. Reconcile - Bank Statement

Reconcile the bank transactions recorded in CM to the bank statement.

Reconcile Bank Statement

Click the link to launch CM; then click Reconcile under the Task menu.

7. Period End Reports

 

Bank Reconciliation

Print common period-end reports after you have reconcile your CM balances to the GL balances and the bank statement(s).


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