Bank Reconciliation

OBJECTIVE

The Bank Reconciliation function is used to balance the selected bank account according to data entered in the system and the bank statement. This option is used to reconcile outstanding cheques and to make manual adjustments.

If the bank account is with National Bank or Caisse Populaire Desjardins, you can import the reconciliation file directly from the bank. To do this, the Internet Integrated Banking Reconciliation option must be installed.

If your bank account is with National Bank and your system has the Internet Integrated Banking Reconciliation option installed, you can import the bank reconciliation file directly.

PREREQUISITEs

Disbursement (individual, by supplier, by batch, by project, pay cheque)
Receipt
Individual receipt

Steps

maestro* > Accounting > Financial Management > Bank Reconciliation > Bank Reconciliation

Use bank reconciliation

If the BAI Reconciliation Format box is checked in the Bank Accounts option, the system will process the file to import using the BAI standards format, which means only includes the transactions linked to the selected bank account (specified in the BAI Account Number field of the Bank Accounts option).

Enter the required information:

Field

Description

Bank Account

Account for which you want to use bank reconciliation.

NOTE: You can reconcile a credit card account if the account was configured in Bank Accounts.

Active Period

Month to be reconciled.

Reconciliation Date

This is usually the last working day in the month if accounts are reconciled once per month. However, another day can be entered if necessary.

Field	Description
Bank Account	Account for which you want to use bank reconciliation. NOTE: You can reconcile a credit card account if the account was configured in Bank Accounts.
Active Period	Month to be reconciled.
Reconciliation Date	This is usually the last working day in the month if accounts are reconciled once per month. However, another day can be entered if necessary.

Enter the required information:

You can search for a cheque by entering the number in the Cheque No. field.

The Configuration icon lets you select the default system behaviour to facilitate processing. You can sort by date range by enabling the When displaying all cheques, filter cheques by date function by clicking the Configuration icon and the Display all cheques icon.

Clicking the Integrate Reconciliation File from the Bank icon lets you reconcile transactions, si l'institution du compte de banque est la Banque Nationale, la Caisse Desjardins ou la BMO, from a file as long as you have underhand a reconciliation file that match the format defined by maestro*. This function is only available if the Internet Integrated Banking Reconciliation option is installed.

For bank institutions other than those previously named, the Import icon allows importing an Excel or CSV file, respecting the following criteria:

Text file (or csv) with fields separated by commas:
First field: Date
Second field: Cheque number (the system will find the cheque by adding or removing the spaces and/or insignificant zeros)
Third field: Cheque amount (the decimal separator of the amount must be a point and no thousandth separator will be supported)

For example: "2023/03/28",1126,665.69

Cheques tab:

The table includes all cheques (suppliers and customers).

Field

Description

Seq

Transaction number.

Date

Date of the transaction.

Cheque No.

Cheque number.

Code

Supplier or customer code.

Name

Name of the supplier or customer.

Debit

Amount of the cheque associated with an account payable.

Credit

Amount of the cheque associated with an account receivable.

Reconciled

Used to indicate that the cheque has been reconciled if the box is checked.

To put a check back into circulation, refer to the help (F1) on Putting a cheque back into circulation.

Reconc. Date

Reconciliation date.

NOTES: The current date is entered automatically by checking the box in the Reconciled column.

The system enters the working date rather than the current date if the Use the working date as the reconciliation date by default setting is checked.

Cancellation Date

Cheque cancellation date.

NOTES: This date only applies to accounts payable cheques.

A cheque can be cancelled using the Cancel a Disbursement, Cancel an Individual Disbursement or Cancel a Payroll Disbursement options.

Comments

Comment entered while entering a receipt or disbursement.

Send

Indicates that it has been transmitted electronically if the box is checked.

NOTES: This function is only available if the Integrated Internet Bank Reconciliation option is installed.

This function is only available if the Internet Integrated Banking Reconciliation option is installed. It is only available for certain banking institutions.

Original Code

Checked if a pending reconciliation has been reopened and the Reconciliation box was checked.

Orig. Rec. Date

Date of the reconciliation put on hold.

Date Entered

Date on which the receipt or disbursement was entered.

Paid Code

Code of the supplier for whom the cheque is issued if other than the supplier who issued the invoice.

Name of supplier paid

Name of the supplier for whom the cheque is issued if other than the supplier who issued the invoice.

An entry can be put on hold by clicking the Put entry on hold icon. In multidimensional mode, a temporary file is created for each company.

Save the entries by clicking Save.

Journal Entries tab:

This function must not be used if the transactions are associated with projects.

Field

Description

Date

Current date, by default.

Comment

Default comment linked to all journal entries.

Status

Not transferred, by default.

User

User number.

Account No.

General ledger account number.

Description

Description of the account.

Comment

Comment linked to the journal entry.

Debit

Debit amount.

Credit

Credit amount.

Company

Company.

NOTE: Available in multidimensional mode only.

You can transfer the journal entry with this option by clicking the Transfer this entry to regular entries icon.

Field	Description
Seq	Transaction number.
Date	Date of the transaction.
Cheque No.	Cheque number.
Code	Supplier or customer code.
Name	Name of the supplier or customer.
Debit	Amount of the cheque associated with an account payable.
Credit	Amount of the cheque associated with an account receivable.
Reconciled	Used to indicate that the cheque has been reconciled if the box is checked. To put a check back into circulation, refer to the help (F1) on Putting a cheque back into circulation.
Reconc. Date	Reconciliation date. NOTES: The current date is entered automatically by checking the box in the Reconciled column. The system enters the working date rather than the current date if the Use the working date as the reconciliation date by default setting is checked.
Cancellation Date	Cheque cancellation date. NOTES: This date only applies to accounts payable cheques. A cheque can be cancelled using the Cancel a Disbursement, Cancel an Individual Disbursement or Cancel a Payroll Disbursement options.
Comments	Comment entered while entering a receipt or disbursement.
Send	Indicates that it has been transmitted electronically if the box is checked. NOTES: This function is only available if the Integrated Internet Bank Reconciliation option is installed. This function is only available if the Internet Integrated Banking Reconciliation option is installed. It is only available for certain banking institutions.
Original Code	Checked if a pending reconciliation has been reopened and the Reconciliation box was checked.
Orig. Rec. Date	Date of the reconciliation put on hold.
Date Entered	Date on which the receipt or disbursement was entered.
Paid Code	Code of the supplier for whom the cheque is issued if other than the supplier who issued the invoice.
Name of supplier paid	Name of the supplier for whom the cheque is issued if other than the supplier who issued the invoice.

Field	Description
Date	Current date, by default.
Comment	Default comment linked to all journal entries.
Status	Not transferred, by default.
User	User number.
Account No.	General ledger account number.
Description	Description of the account.
Comment	Comment linked to the journal entry.
Debit	Debit amount.
Credit	Credit amount.
Company	Company. NOTE: Available in multidimensional mode only.

Electronic Transmission tab:
This section is used to send reconciled cheques to your bank.

Available only for bank accounts linked to Toronto Dominion or National Bank banking institutions.

This tab is only visible if the Integrated Internet Bank Reconciliation option is installed.

Field

Description

Index

Line number in the Cheques tab.

Cpt

Transaction number.

Date

Invoice date.

Cheque No.

Cheque number.

Code

Supplier's code.

Name

Supplier's name.

Amount

Amount of the cheque associated with an account payable.

Send

Includes the cheque in the transmission file if the box is checked.

Date Entered

Date on which the invoice was entered in the system.

Click the Create the bank reconciliation file icon to generate the file.

An entry can be put on hold by clicking the Put entry on hold icon.

Bottom section:

Field

Description

GL Balance

Account balance.

NOTE: This balance must match the balance on the GL Transaction report.

Printed Disbursments +

Total Printed Disbursments amounts.

Reconciled Disbursments

Total amount of reconciled cheques.

Outstanding Cheques

Total amount of outstanding cheques.

Unprinted Disbursements +

Total amounts of disbursements created, but not printed.

Total deposits -

Total amount of deposits.

Reconciled Deposits+

Total cheque amounts for which the Reconciled box is checked.

Outstanding Deposits

Total amount of outstanding deposits.

Adjustments -+

Lets you create an adjusting entry manually, either positive or negative.

Reconciled Balance =

Balance in the account book.

NOTE: This balance must match the balance on the document submitted by the financial institution.

Field	Description
Index	Line number in the Cheques tab.
Cpt	Transaction number.
Date	Invoice date.
Cheque No.	Cheque number.
Code	Supplier's code.
Name	Supplier's name.
Amount	Amount of the cheque associated with an account payable.
Send	Includes the cheque in the transmission file if the box is checked.
Date Entered	Date on which the invoice was entered in the system.

Field	Description
GL Balance	Account balance. NOTE: This balance must match the balance on the GL Transaction report.
Printed Disbursments +	Total Printed Disbursments amounts.
Reconciled Disbursments	Total amount of reconciled cheques.
Outstanding Cheques	Total amount of outstanding cheques.
Unprinted Disbursements +	Total amounts of disbursements created, but not printed.
Total deposits -	Total amount of deposits.
Reconciled Deposits+	Total cheque amounts for which the Reconciled box is checked.
Outstanding Deposits	Total amount of outstanding deposits.
Adjustments -+	Lets you create an adjusting entry manually, either positive or negative.
Reconciled Balance =	Balance in the account book. NOTE: This balance must match the balance on the document submitted by the financial institution.

Bank Reconciliation

OBJECTIVE

PREREQUISITEs

Steps

Use bank reconciliation

See also