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Bank Reconciliation

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TOPS [ONE] Version 4.2.0.3, Last Updated 07/25/2018

 

Description  

This report will show the Bank reconciliation history for a given bank account.

Before rendering financial reports, all community bank account reconciliations should be completed. This makes sure that the cash being reported on reports matches the actual cash in the bank.

Sometimes a board of directors will request a copy of each bank reconciliation report. 

The reconciliation report should quite simply provide a listing of monies going in and out of the bank account, along with the matching transactions in General Ledger.

This article will give you a Step-By-Step guide on how to clear transactions and complete your Bank Reconciliation. 

 

Goal

Your Bank Rec should mimic your physical bank account. with that being said, the difference should always be 0. If you have a difference coming up, this could be caused by a transaction being cleared to soon, or a transaction wasn't entered into TOPS ONE yet. 

 

Step By Step

  1. Click Admin

2018-07-25_15_49_44-Window.jpg

2. Scroll down to the section that says Banks, select the appropriate bank. 

3. Go to the Accounts Section

4. Click Reconcile for the account you want to work on.

This will take you to the Bank Reconciliation for the account you picked. 

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5. Select Statement Date

6.Enter Bank Statement Balance

This is the ending balance you received from your bank for the Statement Date entered above.

As you compare your transactions on your Bank Statement to those in TOPS,  Clear the transactions. 

7. To Clear the transaction, add the Cleared Date, click the box labeled Clear 

 

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If you think you may have cleared a transaction by accident, disable the Show Uncleared Only toggle in Filters. 

 To unclear a transaction, unclick the Cleared box. 

 

 

Filters

 

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 Start/End Date  Enter a Date Range

Show Uncleared Only This option is on by default. Deselect it to see Cleared Transactions

Cleared transactions will have the date it was cleared in the date box. 

Cleared Transaction: 

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After you've made your changes, click Apply Filter 

 

 

 Adjustments 

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Service Fee 2018-05-05_19_22_50-TOPS__ONE_.png

Enter the Amount of the Fee

The Data to implement the charge 

And select the Account you want to add the fee to. 

Click the 2018-07-25_15_53_52-Window.jpg when you want to add that charge

 

Add Interest Income 

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Enter the Amount of the interest income 

The Data to implement 

And select the Account you want to add the interest income to.

Click the 2018-07-25_15_53_52-Window.jpg when you want to add that charge 

 

 

Bank Transfer

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Amount Enter the amount you want to transfer 

Date The date this transfer will hit affect your GL 

From Account Enter the account the money will be taken from 

To Account Enter the account where the money is going. 

 

 

 

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