The Bank Reconciliation reports the difference between the ending balance on the bank statement and the ending balance in the books. A Bank Reconciliation includes a list of outstanding checks, outstanding deposits and any bank errors as well as a summary of transactions.
After the Receipts and Checks have been marked as cleared in Brief Accounting, click the Print icon on the top-left of the screen.
Once the ending balance as per that month's bank statement is entered, Brief Accounting displays either "In Balance" or shows the amount to which the bank reconciliation is out of balance:
If the above is In Balance, click Print to print the bank reconciliation.
If out of balance, click Cancel to be returned to your Bank Reconciliation screen.
A few tips if the bank rec does not balance:
1. Check the Cleared Rcpts tab > Cleared sidetab and note the total of the cleared receipts. This total should match the deposits total on your bank statement. If it does not, a receipt was incorrectly cleared or missed in Brief Accounting.
2. Check the Clear Chks tab > Cleared sidetab and note the total of the cleared checks. This total should match the cleared checks total on your bank statement. If it does not, a check was incorrectly cleared or missed in Brief Accounting.
3. Note the Cleared Date. A common mistake is to have the Month End date set incorrectly. If items are cleared as at the wrong month end, the bank reconciliation will not balance. If this occurs, unclear the items, reset the month end date and clear the items again.
4. Reprint the prior month's Bank Rec. Try reprinting a copy of the last month's bank rec that was in balance. If it is now out of balance, it means something happened to an old entry that is affecting the balance forward in the current month. This could be an incorrect posting or reversal into a prior period, or it could mean there is a corrupt record in your database and it requires maintenance. If a prior month's bank rec no longer balances, report the information to Brief Legal Software to review your data.