Reconcile an Account

To reconcile an account in CommunitySuite:

1. Navigate to the Accounts page.
2. Click the number of the account to be reconciled.
   
    
3. Locate the Current Balance row in the Account section, and then click Reconcile.
4. Enter the applicable Reconcile Information, and then click Next.
   • Ending Balance - The ending balance for this account from the bank statement being used to reconcile.
     
      
   • If this is a continuation of a bank reconciliation that was begun previously, this step will not display again.
5. If applicable, edit the statement date or statement balance. 
   
    
6. Check the box next to each unreconciled transaction until the difference is zero.
   
    
7. Click reconcile.
   
    

Multi-Currency Accounts contains additional information about the reconciliation differences for accounts with foreign currencies defined. 

Match Option for Imported Bank Transactions

A Match option is available for the bank reconciliation process with imported bank transactions. This allows users to import bank transactions and efficiently reconcile them within the system. This functionality will help streamline and speed up the bank reconciliation process for high-volume accounts.

1. Once a bank reconciliation has been initiated for an account, click Upload CSV in the left-side menu.
   • CommunitySuite provides the required column headers for the .csv in the file format area; the headers in the .csv must follow the required column headers. The Match option will only be available if a .csv is uploaded.
   • Below is an example of how to format the file for upload. 
     
      
2. Click Choose File.
   
    
3. Select the .csv file from your computer, and then click Process.
   
    
4. Click Match All in the Unmatched Uploaded Transactions section. 
   
    

The system will attempt to automatically match transactions based on Date, Amount, Debit, or Credit. Any transactions that cannot be matched automatically will appear at the bottom of the reconciliation screen.


 

• Users can click Match next to an uploaded transaction to manually match one input transaction to multiple system transactions if needed.
  
   
• Users can click Add to create a Quick Voucher directly from any unmatched item. Vouchers added this way will not go through the standard AP approval process.
  
   
• Users can click Delete to remove any unmatched imported transactions as needed.
  
   

Match Option for Imported Bank Transactions Video

The video below provides an overview of the match option for imported bank transactions and provides details on .csv file formatting.

The following are actions that can be taken from the account reconciliations list on the Bank Reconciliation page.

Start a Reconciliation

Click Start to begin a reconciliation.

 

Continue a Reconciliation

Click Continue to continue working on a reconciliation that was previously begun.


Approve a Reconciliation

Click approve to approve a reconciliation. 

• Enable Bank Reconcile Approval must be enabled in Settings, and the approver must be a different user than who completed the reconciliation.
• This can be used to replace any outside of the system approvals that occur with bank reconciliations.
  
   

The Bank Reconcile report provides an overview of a bank reconciliation.

1. Navigate to the Bank Reconcile page.
2. Click History Report to view past reconciliations.
   
    
3. Click an applicable date to access the Bank Reconcile Report.
   
    
   • Click Print to save the report as a .pdf.
     
      
   • Click Export to export the report.
     • The export includes all transactions, including uncleared items like outstanding checks and deposits. 
       
        

It is strongly recommended to attach copies of bank statements or investment statements to the bank reconciliations to have a complete "audit packet" that is readily accessible within the system for auditors. Users can attach these files at any point in the reconciliation and start or stop the bank reconciliation as needed. Notes can be added to explain any necessary details for future users. 

1. Navigate to the Bank Reconcialiation page.
2. Click History Report on a reconciliation.
   • Notes and Files can also be added during reconciliation and then viewed from the history report page.
     
      
3. Click an applicable date to access the Bank Reconcile Report.
   
    
4. Locate the row of buttons at the top of the record, and then click Add Note or Attach File.
5. Add the note or file as necessary. 

Adding notes and files will automatically reopen the reconciliation screen. Navigate back to the Bank Reconcile Report to view the notes and files.