Generally, to reconcile a downloaded OFX statement you:
Use the Reconcile OFX Statements screen to:
To reconcile OFX statements:
Bank Services >
The Reconcile OFX Statements screen displays transactions from the imported OFX file that were processed by the bank before the reconciliation cutoff date.
Fill in the following fields on the Reconcile OFX Statements screen:
The reconciliation date determines the year and period to which the reconciliation is posted. (The year and period are displayed in the field to the right.)
You must use a reconciliation date that is later than the one used when you last reconciled the bank account.
Imported transactions must have cleared the bank by the cutoff date to be included in a reconciliation.
You can reconcile only transactions posted in Sage 300 to a date no later than the reconciliation cutoff date, including outstanding transactions posted to earlier fiscal periods.
When you leave the Reconciliation Cutoff Date field, the display changes to show transactions processed up to and including the specified cutoff date, for the specified year and period.
When you select this option, then click Reconcile, automatically matched transactions are immediately cleared from the table, leaving only transactions that you must reconcile manually.
This option can save you time if you have many transactions to reconcile. However, if more than one transaction uses a given amount, it is best not to select the option, to ensure that you clear the correct entry.
You should select the method that is consistent with the presentation of deposits on your bank statement:
If your bank statement does not include details of individual receipts, do not select Transaction because the Reconcile OFX Statements function will not be able to match receipt amounts automatically to amounts on the bank statement.
Note: If you are matching deposits by transaction, and the program matches at least one detail in a deposit, the deposit's status is set to Reconcile By Deposit Detail. This applies only to deposits that can contain multiple receipts (such as those entered through Accounts Receivable).
While reconciling by deposit amount is generally faster, if there was a keying error or some other problem that caused the bank to report a different deposit amount than you recorded in Sage 300, you must reconcile each receipt amount manually.
Depending on whether you match by deposit slip or transaction, comments included in the OFX file are handled as follows:
The Cleared status for matched transactions changes to Yes. However, if you selected the Automatically Clear Reconciled Transactions option, only unmatched transactions appear on the table.
You must clear unmatched transactions manually.
Clear unmatched transactions you identify as bank entries (for example, bank service charges that you have not yet entered in your Sage 300 system). More...
The Bank Entry screen appears.
If the bank entry is taxable, select the Taxable option, click the Edit button, and then enter tax information on the Taxes form that appears:
Clear other unmatched transactions. More...
A Detail screen appears.
Be sure you select the correct line, as there may be more than one detail with the same amount or date.
The only items remaining on the table will be unmatched items that you did not clear manually. (Their Cleared status is No.)
If a message appears asking whether to process the entries now, click Yes.
Check the reconciliation using the Reconcile Statements screen: