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 Statements screen to:
- Establish bank balances prior to beginning regular monthly processing. For each General Ledger bank account, you need to perform a setup reconciliation to enter information from your last reconciliation.
- Reconcile bank accounts to bank statements. Only one person at a time can perform a reconciliation for a particular bank, but multiple workstations can reconcile different banks at the same time.
- Complete the reconciliation of electronic statements.
- Post reconciliations individually.
If security is turned on for your system, you must have authorization to reconcile bank statements.
Bank Errors
You record bank errors to clear deposits or withdrawals that your bank processed for different amounts than your company processed in Sage 300, once you have determined that the difference is due to a bank error.
Reconciliation Tab
This tab lists all outstanding deposits and withdrawals that were posted on or before the reconciliation date. It lets you:
- Filter and display the transactions by reconciliation status and transaction type.
- Sort the transactions by document date or by transaction number.
- Clear transactions that your bank has processed.
- Reverse a withdrawal by setting its reconciliation status to Reversed.
- Display a list of receipts that make up deposits with multiple receipts, and clear individual receipts.
- Drill down to source applications to view transactions in the original transaction entry screens.
- Change the reconciliation date for a selected transaction.
- Open the Bank Quick Clearing screen to clear a range of payments, or reset their status to Outstanding. For more information, see Bank Quick Clearing Screen.
- Open the Bank Entry screen to record a bank transaction, such as bank service charges or a mortgage payment, that you have not yet processed in Sage 300. For more information, see Bank Entry Screen.
Note: You cannot reconcile bank entry until you post it.
Summary Tab
Use this tab to:
- Enter general information from the bank statement before reconciling your bank account.
- Occasionally, check the progress of your reconciliation.
If the Adjusted Bank Balance does not equal the Adjusted Book Balance, the program displays the difference in the Out Of Balance By field. You must reconcile the balances by recording bank entries that account for the difference. For more information, see Reconciling a Bank Account.
After recording bank entries, or after changing the Reconciliation Posting Date, click the Calculate button to update the amounts on the Summary tab.
Once the Adjusted Bank Balance equals the Adjusted Book Balance, you have successfully reconciled the bank account. (The Out Of Balance By amount will be zero.)
Totals Tab
This tab provides a detailed breakdown of cleared withdrawals and deposits by reconciliation status (for example, Cleared With Bank Error).