Performing Semi-Manual Reconciliation - 16j
Purpose: Use this document as a reference for running semi-manual bank statements reconciliation in ctcLink.
Audience: Settlement Manager, GL Accountant
Use the Semi Manual Reconciliation page to reconcile statements semi-manually when there is not a one-to-one match or doesn't match the match criteria, between your bank and system transactions and you have reconciliation exceptions.
Or, you can reconcile bank statements after entering a hardcopy bank statement online.
Navigation: Main Menu > Banking > Reconcile Statements > Semi-Manual Reconciliation
- Specify the search criteria for the transactions that you want to reconcile.
- Date (to/from) - If working on unreconciled, the from date should be "beginning of time" and through date should be "current".
- Statement ID– This is usually found near the top of the printed statement from your bank. You can have this blank (or %) to get all statements.
- Use the Reconciliation Status drop-down button to select a status for the transactions. Choose from the following options:
- Unreconciled: Select if you want to reconcile transactions.
- Reconciled: Select if you want to undo the reconciliation for a transaction.
Note: If the reconciliation status selected is Reconciled, this page displays both bank transactions and system transactions that are reconciled by semi-manual or automatic reconciliation. Transactions reconciled from the Manual Reconciliation page are also displayed here, but can only be unreconciled from the Manual Reconciliation page.
Note: You should not unreconcile a transaction that has already been sent to the general ledger.
- If you want to perform an advanced search, click the Advanced Search button to display additional search fields.
- Click the Search button to display the results in the Bank Transactions grid.
- Bank and System transactions matching your search criteria are displayed. The page displays the bank and system transactions online simultaneously, making it easy to scroll through and match corresponding transactions. You can reconcile transactions by matching:
- One bank transaction-to-one system transaction (one-to-one).
- One bank transaction-to-many system transactions (one-to-many).
- More than one bank statement transaction to one system transaction (many-to-one).
- More than one bank statement transaction to more than one system transaction (many-to-many).
Note: When reconciling more than one bank statement transaction to one or more system transactions—many-to-one and many-to-many—the sum of the bank statement transactions must be equal to the sum of the system transactions. No reconciliation tolerances are allowed under these circumstances.
- If you are displaying unreconciled transactions, select the transactions on each side that you want to reconcile and click the Reconcile button. You must have at least one bank transaction and one system transaction selected.
Note: The system issues a warning if:
- The dates do not match between the bank and the system sides.
- The transaction types do not match between the bank and the system sides.
Warning: Reconcile each individual transaction or small groups of similar type transactions. Do not include the reconciliation of external items with other types of items. This is very important if you have to unreconcile as all transactions reconciled together have to be unreconciled together.
- If you are displaying reconciled transactions, select the transactions to unreconcile, and click the Unreconcile button.
- Bank Date– Displays the date on which the bank recorded the transaction.
- Tran Date (transaction date) – Displays the date on which the system transaction occurred.
- Source– Displays the origin application for the transactions:
AR: Accounts Receivable; includes receivables, direct debits, and drafts.
- Note: Unbalanced payments in AR will not appear in the System Transactions grid for reconciliation. To remedy this, you must balance the payment on the Regular Deposit pages in AR.
XT: Transactions from outside the system.
- Amount– Displays the sum total of the transactions selected on the corresponding side of the page.
- Difference– The difference between the sum total of the selected bank statement transactions and the selected system transactions.
- Refresh– After selecting transactions, click the Refresh button to generate the Amounts and difference field.
- Select Matches button – After selecting bank or system transactions to be unreconciled, click the Select Matches button to automatically select the associated transactions to the original reconciliation. You can select transactions on both sides of the page simultaneously when using this function.