Bank Reconciliation Process

How to: Complete a bank reconciliation.

Environment: Comsense Enterprise

In this article: 

  1. Before the Bank Reconciliation
  2. Accessing Bank Reconciliation
  3. Creating a New Bank Reconciliation
  4. Completing the Bank Reconciliation

Before the Bank Reconciliation

Before any bank reconciliations in Comsense, you must:

  • Enter any manual journal entries
    • E.g. interest charges, service fees, loans, or automatic withdrawals
  • Close all cash drawers
  • Complete any deposits
    • Especially automatic deposits
  • Have your bank statement

Accessing Bank Reconciliation

Enterprise > General Ledger > Bank Reconciliation

Click image to enlarge
Enterprise Navigation menu; shows the location of General Ledger and Bank Reconciliation.
Image 1: Enterprise Left-Hand Navigation Menu

Creating a New Bank Reconciliation

In the Bank Reconciliation window:

  1. Click New

In the Bank Account window:

  1. Select the applicable bank account
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Bank Account window; shows a selected bank accouunt and the location of the Open button.
Image 2: Bank Account Window
  1. Click Open

In the Statement Date field:

  1. Enter the statement end date
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Bank Reconciliation window; shows the Statement Date field.
Image 3: Statement Date Field

In the Statement field:

  1. Enter the statement end balance
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Bank Reconciliation window; shows the Statement field.
Image 4: Statement Field

On the bank statement line items:

  1. Check the cleared checkbox for all cleared line items on the bank statement
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Bank Reconciliation window; shows all line items cleared.
Image 10: Clear Checkbox Column

Completing the Bank Reconciliation

You can only complete a bank reconciliation when all line items are cleared and the Difference field balance is 0.00. Always review the bank reconciliation before completing it because you cannot update a completed bank reconciliation.

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Bank Reconciliation window; shows all cleared line items and the Difference field at 0.00.
Image 11: Complete Bank Reconciliation

All incomplete bank reconciliations must remain open until all line items are cleared. Open status bank reconciliations are editable.

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Bank Reconciliation window; shows uncleared line items and a balance in the Difference field.
Image 12: Incomplete Bank Reconciliation

In the Bank Reconciliation window:

  1. Review the bank reconciliation line items

In the Status field:

  1. Select:
    1. Completed if all line items are cleared
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Bank Reconciliation window; shows the Status field drop-down list and the location of Completed.
Image 13: Completed Status
    1. Open if there are uncleared line items
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Bank Reconciliation window; shows the Status field drop-down list and the location of Open.
Image 14: Open Status
  1. Click Save & Close
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