Bank Reconcile E-Statements Screen

Open Common Services > Bank Services > Bank Transactions > Reconcile E-Statements.

Click this button to enter a bank transaction that you have not yet processed in Sage 300. For more information, see Bank Entry Screen (E-Statements).

If a transaction in an e-statement is not matched automatically, you can select the transaction and click Clear to see a list of transactions in Sage 300 that have a matching transaction amount but no other matching information (such as transaction number, reference, or comment). You can then match the transaction from the e-statement to one of the Sage 300 transactions.

Click this button to connect a bank feed for the bank that is specified in the Bank Code field.

After connecting a bank feed, the Disconnect Bank Feed and Get Transactions buttons become available.

Note: When connecting a bank feed, you specify some settings and information about the bank feed. If you need to change the bank feed, you must disconnect it and then repeat the process of connecting it. During this process you can specify the changes that are needed.

If a bank feed is connected for the bank that is specified in the Bank Code field, you can click this button to disconnect the bank feed.

If a bank feed is connected for the bank that is specified in the Bank Code field, you can click this button to download transactions from the bank feed.

Click this button to match Sage 300 transactions automatically to the statement transactions listed on the grid. For more information, see Matching Transactions from E-Statements to ERP Transactions.

The program reconciles only statement transactions that cleared the bank on or before the reconciliation cutoff date.

Click this button to remove from the detail table the bank statement transactions that have Yes as the value in the Cleared field.

Click this button to save the reconciliation of transactions that have a Cleared status of Yes. When you click Save:

  • The program adds transactions designated as bank entries to Bank Services.
  • On the Bank Reconcile E-Statements screen, the Reconciliation Status changes to Cleared.

Note: You should designate bank entries (by clicking the Bank Entry button with the item highlighted) before clicking the Save button, as the Bank Entry button is not available after you click Save.

When you select this option and then click Reconcile, automatically matched transactions are immediately cleared from the grid, 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.

Select the code for the bank whose statements you downloaded. The program initially displays the default bank code specified on the Bank Options screen.

You can specify whether to reconcile amounts for the individual receipts that make up deposits, or reconcile deposit totals. The method you choose applies to all the deposits in the current reconciliation.

Select the method that is consistent with the presentation of deposits on your bank statement:

  • Transaction. Reconcile each receipt or receipt-related amount.

    If your bank statement does not include details of individual receipts, do not select Transaction because the Reconcile E-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).

  • Deposit Slip. Reconcile one amount for each deposit slip.

    To match by deposit slip, the Sage 300 deposit slip number must match the transaction number, reference, or comment in the e-statement.

    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.

    Note:

    Depending on whether you match by deposit slip or transaction, comments included in the e-statement are handled differently:

    • When matching by deposit slip, if there is a comment in the e-statement, it is entered in Reconciliation Description for both the deposit and all receipts in the deposit.
    • When matching by transaction, if there is a comment in the e-statement, it is entered in Reconciliation Description for the related receipt only.

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.

The reconciliation date determines the year and period to which the reconciliation is posted.

You must use a reconciliation date that is later than the one used when you last reconciled the bank account.

This field is not editable, and is determined by the date in the Reconciliation Posting Date field.

This is the date on which the transaction cleared the bank.

This field displays Yes for downloaded transactions that matched your records, or No for downloaded transactions that did not match your records. (After you reconcile the unmatched transactions, this field changes from No to Yes for transactions that you manually matched to your records.)

These fields display information from downloaded transactions, which may include details such as payee name, check number, comments, and other information.

The information shown in these fields depends on the information that exists in the e-statement. In some cases, both comment fields may show the same information.

This field appears for multicurrency transactions. It does not appear for a single-currency bank or company.

For OFX transactions this field reflects the rate in effect at the bank on the day the check cleared the bank.

For bank feeds, this field is not used because transactions are always in the currency of the bank account, meaning there is never currency conversion.

This field displays reference information that was included for transactions in the e-statement.

In a multicurrency transaction from an OFX statement, this field displays the original transaction amount, in the currency of the original transaction. This amount will differ from the transaction amount, due to exchange differences.

For bank feeds, the source amount is always the same as the transaction amount.

In a multicurrency transaction, this field displays the currency code for the source amount.

For OFX statements, the transaction currency may be different than the source currency.

For bank feeds, the transaction currency is always the same as the source currency.

This field displays the amount of the transaction that cleared the bank, in the bank's statement currency.

For OFX statements, the bank's statement currency may be different than the source currency, in which case the transaction amount may be different than the source amount.

For bank feeds, the bank's statement currency is always the same as the source currency, so the transaction amount is always the same as the source amount.

This field displays the functional currency of the transaction for a multicurrency bank or company.

If the bank selected is a single-currency bank or the company is a single-currency company, the field does not appear.

This field displays the number associated with the transaction (a deposit number or a check number for example).

This field displays the type of transaction recorded on the bank statement (that is, a withdrawal or a deposit).

Overview

Note: Depending on how your system is set up, this desktop screen may also be available as a web screen. For more information, see the Web Screens Getting Started Guide or the help for Sage 300 web screens.

Use the Bank Reconcile E-Statements screen to:

Saving the reconciliation adds bank entries, written-off amounts, and other reconciling amounts to the Reconciliation tab on the Reconcile Statements screen.

Reconciling Amounts by Transaction or Deposit Slip

You can specify whether to reconcile amounts for the individual receipts that make up deposits, or reconcile deposit totals. The method you choose applies to all the deposits in the current reconciliation.

Select the method that is consistent with the presentation of deposits on your bank statement: