Use this document to verify that an account in the LILAC database which contains cash in or out entries agrees with statements obtained from your bank.
Select an appropriate bank account* name from the BALANCE section of the LILAC Chart of Accounts document.
* CASH AT BANK is the default selection for the company's bank account when there is just one.
Use the refresh button to populate this document with items from the bank account for the current accounting period.
Once you have recorded the page numbers indicating presented items you should use the Bank Reconciliation Report Button to obtain a page by page comparison with the Bank Statement.
An item is marked as "Presented" by entering the page number of the paper bank statement upon which the item appears.
Page 2 General Ledger > Bank Reconciliation
General Ledger > Bank Reconciliation
Purpose: This document allows the user to reconcile the company's book balance against the bank statement balance.
Prerequisites: The bank account to be reconciled must have been created via the Documents - General Ledger - Chart of Accounts document.
Context: Almost invariably, the ending balance on the bank statement differs from the balance in the company's Cash At Bank account. Some reasons for the differences are:
1.Unpresented cheques 2.Deposits not yet credited by the bank 3.Charges made by the bank but not yet reflected in the depositor's books 4.Credits made by the bank but not yet reflected in the depositor's books 5.Accounting errors
The bank reconciliation is a schedule that accounts for any of the above differences between the bank statement balance and the company's book balance.
Ledger: This field is always set to BALANCE. Account: Type in, or search for (using the F12 button), the bank account to reconcile. The bank account must be an account of the BALANCE ledger. Sub: This field is always blank. Period: Displays the currently signed in period.
Batch: Displays the batch of the transaction. Date: Displays the date of the original document. Type: Displays the type of the original document. Document: Displays the name of the original document. Ref: Displays the reference number of the original document. Other Account: Displays the account the other side of the transaction was posted to. Page: Type in the page number which this entry appears on the bank statement. Unpresented: If the Page field is blank, the value of the transaction appears in this field, and it is treated as unpresented. It will appear on future bank reconciliation documents. Presented: If the Page field is not blank, the value of the transaction appears in this field, and it is treated as presented. It will not appear on future bank reconciliation documents.