Identify outstanding receipts: Print a list of cash receipts not yet deposited in Microsoft Dynamics GP to compare to the list of outstanding items from step 1, to identify the outstanding cash receipts. You do not want any other items affecting the checkbook balance or the GL Cash account balance at the same time you are doing maintenance to the checkbook, so it is recommended to have all batches posted in all modules, and ask all users not to key/post any transactions to this checkbook ID or GL cash account during this time. Post all batches: Post all the batches from other modules (GL, Payables, Receivables, SOP, POP, and so on) that would affect the checkbook balance. The outstanding items for the above reconciliation at this same point in time.The Bank Statement Ending balance at this same point in time.(Note: The GL cash account should only be linked to one checkbook ID.) The last Bank Statement ending date of the last reconciliation you completed between the Bank Statement and the GL cash account that is used with this checkbook.The goal will be to get the checkbook balance in Bank Reconciliation to match this balance that was last reconciled between the Bank Statement and General Ledger. You will also want to perform the steps in this article as close afterwards to that date as possible, to minimize the number of outstanding items since that date. Typically, this is the ending date of the last Bank Statement balance that you reconciled to the GL cash account used with this checkbook (which you should have been doing outside of Microsoft Dynamics GP). Select a starting point in time: Select a start date or point in time to begin reconciling the existing checkbook. Add interest earned for the period 3.Before you follow the instructions in this article, make sure that you have a current backup copy of the company database that you can restore if a problem occurs, or do this in a test company first. Deduct any bank service charges for the period (20)Ħ. Ending balance shown in checkbook $ 286.54ĥ. Add total deposits still outstanding to bank balance 925.60Ī. Deduct total checks/Withdrawals still outstanding (1,278.22)ģ. Ending balance shown on bank statement $ 622.44Īdd up checks and withdrawals still outstanding:Ģ. Type of Account : NOW Account - Second State Bankġ. Please refer to the numbers and lettes for steps solution for this problem! Thank You!
Use a checking account reconciliation form like the one in Worksheet 4.1 to reconcile Mateo’s checking account. ATM withdrawals on 11/1 and 11/14 and deposits on 11/2 and 11/6 have cleared no other checks or ATM activities are listed on his statement, so anything remaining should be treated as outstanding. His bank statement indicates the following checks have cleared: 654, 662, 672, 674 to 679, 681. It shows an ending balance of $622.44 it also shows that he earned interest for November of $3.28, had a check service charge of $8 for the month, and had another $20 charge for a returned check. He has just received his bank statement for the month of November. Mateo’s checkbook ledger shows an ending balance of $286.54. Mateo also made the following withdrawals and deposits at an ATM near his home: His checkbook ledger lists the following checks: Mateo Gonzalez has an interest-paying (NOW) checking account at the Second State Bank.
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