About bank reconciliation

Important! When your cursor is in the grid area of the 1-5 Bank Reconciliation window, no function keys except F1 are available. You may launch the calculator (F3) after displaying the 1-5 Bank Reconciliation window by clicking in the Statement Cutoff Date text box and then pressing F3.

The 1-5 Bank Reconciliation window, similar to a check register, displays transactions that have not cleared. As you compare the bank statement to the transactions in 1-5 Bank Reconciliation, clear the transactions listed on the bank statement.

You can display transactions using a specific date. In the Statement Cutoff Date box, enter the statement ending date to display all transactions through the specified date. Sage 100 Contractor does not display transactions entered after the indicated date.

Sage 100 Contractor displays transactions in transaction number order. If a check number falls out of numbered sequence, Sage 100 Contractor displays an asterisk (*) next to the transaction number.

After clearing transactions, save the changes. Cleared items do not appear in the 1-5 Bank Reconciliation window.

The Statement Beginning Balance box displays the balance as of the last reconciliation. The amount in the Statement Beginning Balance box does not change until you have cleared transactions and saved the changes.

When you display records for a checking account, the Statement Ending Balance box displays the balance as of the last reconciliation. As you change the status of transactions, the amount in the Statement Ending Balance box changes. A P displayed with a transaction in the Record# column indicates that the transaction is from a prior year.

After clearing the transactions, the ending balance in 1-5 Bank Reconciliation should match the ending balance of your bank statement. After reconciling the account with the statement and you save the changes, Sage 100 Contractor rolls the amount in the Statement Ending Balance box to the Statement Beginning Balance box.

Note: When saving a reconciliation as Final, the records are updated permanently. You cannot undo a reconciliation once you have clicked [Final].

Sage 100 Contractor lets you save a trial reconciliation that is only partially completed. You can then return later to finish the reconciliation.

Tip: The default location when saving the Bank Reconciliation Report as a .pdf file is \MB\your company\Reports. You can save it to a different location.