Overview
This article defines the manual process of reconciling a Bank Card Account. A user marks each Bank Card Transaction as reconciled.
Navigation
General Ledger > Bank Card Reconcile
Processing
Select Bank Account Number from the picklist of Bank Card Accounts. Once selected the following information is displayed for the selected Bank Account.
Bank Card Account Details Section
Company: The Company associated with the selected Bank Card Account.
Bank Account Number: The Bank account number for the selected Bank Card Account.
Institution: The name of the Banking institution associated with the Bank Card Account selected.
Balance: The current Bank Card Account balance expressed in the Bank Card Account Currency.
Balance After Settlement: The expected Bank Card Account balance after the Settlement Pending transactions have been completed.
Associated GL Account: The GL Account associated with the selected Bank Account.
Bank Account Name: The name of the Bank Account as defined by the user in the Bank Account setup program.
Description: The description of the Bank Account as defined by the user in the Bank Account setup program.
Settlement Pending: The amount for previous settlements raised but where payment (via Payment Selection) has not yet been made.
Buttons
Start a Settlement: This button creates new AP Invoices for the selected Bank Card Account.
This button opens a pop-up with the below fields:
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Current Balance: (Display Only) This is the current balance of all Bank Card Transactions posted before this settlement.
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Payment Amount: Enter the amount to be paid to the Bank Card in settlement of the Payable Transaction to be created.
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Payment Txn Date: Enter the date upon which the settlement amount will be recorded in the General Ledger for the Payable Transaction to be created.
Click the Create Payment button to create a Payable Transaction.
Reconcile: This button is used to reconcile the Bank Card Transactions processed for this Bank Card Account.
Add Interest/Other Charge/Credit: This button is used to create Bank Card Transactions for the below charges:
This button opens a pop-up with the below fields:
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Transaction Type: Select the Transaction Type for the transaction to be created. Options are 'Interest Charge', 'Balance Adjustment', 'Miscellaneous Bank Charge', and 'Miscellaneous Bank Credit'.
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Charge Amount: Enter the amount for this transaction.
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Expense Account: Select the Expense Account to be used for this transaction.
Click the Process button to create the Bank Card Transaction.
Bank Card Txns: This button is used to add new Bank Card Transactions and edit existing open Bank Card Transactions.
This button opens a pop-up with the fields 'Txn Date', 'Bank Card Template', 'Expense Account', 'Miscellaneous Credit', 'Transaction Amount', 'Transaction Description', 'Payee', 'ODC Code', 'Division', 'Project', and 'Dimension Values'. Click Add to create a new Bank Card Transaction, or edit existing Bank Card Transactions and click Save.
Post Bank Card Txns: This button posts open Bank Card Transactions.
This button displays the Post Open Upload Txns Section showing all open Bank Card Transactions. Select Bank Card Transaction(s) and click Post Selected Transactions to post them.
Reverse Transactions: This button is used to reopen posted Bank Card Transactions.
This button displays the Reverse Transactions Section showing all posted Bank Card Transactions. Select Bank Card Transaction(s) and click Reverse-Post Selected Txns to open them.
Reconciling a Bank Card Transaction
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To reconcile the bank card transactions processed to a Bank Card Statement, click on the Reconcile button.
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A Reconcile Detail pane showing all unreconciled transactions will be displayed.
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To mark a transaction or multiple transactions as reconciled:
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To select all transactions, check the 'Select All' checkbox.
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To select single or multiple individual transactions, check the box on the line/transaction to be reconciled.
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Note that as transactions are selected, the 'Total Selected Amount' and 'Total Selected Row' are updated as selections are made.
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Once all the transactions are selected and the 'Total Selected Amount' = the Bank Card Statement Amount, click on Accept Selected Transactions. This will mark all the transactions as reconciled, and they will no longer be displayed in the Reconcile Detail pane.
NOTE Bank Card Settlement / Payment transactions are displayed as a Transaction Comment - "Bank Card Account Payment".
SEE ALSO
Bank Card Processing
Bank Card Setup
Bank Card Transaction Template
Import Upload Bank Card Transaction
Processing Bank Card Transactions
Voiding of Bank Card Transactions
Settlement of Bank Card Liability
