Bank Reconciliation

If you have been using BIS® prior to purchasing the Bank Reconciliation module your data will contain a history of checks and deposits that have not been reconciled.

Prior to reconciling your first bank statement you will need to create an adjusting bank reconciliation to clear all unneeded credits and debits.

In the example below we will use October 1^st to October 31^st as the first bank statement date range.

1. Create an adjusting bank reconciliation for September 30^th.
2. Go through each tab and clear all items that have already been cleared on previous bank statements and are not listed on the October bank statement.
3. On the Bank tab:
   1. Beginning Balance = 0.00
   1. Deposits/Credits = see Adjustments tab footer Worksheet column
   1. Withdrawals/Debits = see Adjustments tab footer Worksheet column (before bank charges)
   1. Bank Charges = $ if needed (use New Adjustment button on the Adjustments tab. This will launch the Journal Entry form and default to the bank account for the credit side of the transaction. Use a Bank Charges GL account for the debit side of the transaction)
   1. Ending Balance = $ is automatically calculated (a + b – c – d = e). This amount should agree with the beginning balance of the October bank statement.
4. Reconcile tab:
   1. Ending Balance = $ is automatically calculated
   1. Balance per Books (GL) = $ is automatically calculated
   1. Difference = 0.00

Both a. and b. should be the same amount

• If the difference is 0.00 select the Reconcile button on the Reconcile tab.