This statement 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 you have cleared receipts, cleared checks and input any necessary entries, confirm and print the Bank Rec by click the Print icon in the top left. You need to make sure you are on the Bank Rec sidetab when you click the Print icon.
Brief Accounting provides on-screen feedback to help ensure that the bank account is in balance before printing the report.
A few tips if you 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 cleared receipts total on your bank statement. If it does not, you have incorrectly cleared all the receipts or missed an item.
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, you have incorrectly cleared all the checks or missed an item.
3. Note the Cleared Date. A common mistake is to have the Month End date set incorrectly. If you clear items as at the wrong month end, you cannot balance. If you clear items as at the wrong date, unclear them, 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 you have 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.