During your implementation process, you will reconcile your Accounts. However, you may have an account that needs to be reconciled for the first time, here are the steps to doing your first Bank Reconcile.
To reconcile an Account for the first time:
- From the Home screen click Bank Reconcile.
The screen will show the Accounts that have been previously reconciled listed in the Reconcile Bank Account table. If you do not see the Account you wish to reconcile you will need to add it.
To Reconcile an Account for the first time you will select “List Accounts” from the left side menu to see all Accounts in your Chart of Accounts.
- Click the Account number of the Account to be reconciled
- Choose Reconcile from the left
- There will be three (3) options that you can use to complete your first reconcile
- Reconcile Option 1 - If you select "Yes, Auto Reconcile" the system will Auto Reconcile all transactions in the account up to the date selected - do not use this option if you have any outstanding items
- Reconcile Option 2 - If you select "Yes, Do Reverse Reconcile Process" you can enter the last date the account was reconciled and enter the last balance on that date, and then you can search and find any outstanding items that need to be addressed
- Use the last full month end date you reconciled as your Last Reconcile Date
- Enter the Last Reconcile Balance amount from the statement
- Or, select the hyperlinked selection [I will reconcile all transactions myself] at the bottom of the page, this will allow you to reconcile all transactions in the system manually
It is often a best practice to select Option 2. You will have the opportunity to search and uncheck any transactions that were outstanding at the end of the last reconciliation. Note: the search option only supports looking for dollar amounts.
Option 2 Example: If you decide to do a Reverse Reconcile you will see the Un-Reconciled Transactions table.
- Use the search box to find amounts that were outstanding as of the period you indicated previously.
- Select the items from the search results. Selection from the list, marks an item as unreconciled or outstanding. Repeat this process for all outstanding items for the period.
- Compare the transactions with your statement
- Once you get the Difference to zero (0) then you can pick the Reconcile button. You have now reconciled CommunitySuite to the last reconciliation on your prior system. You can now start a new reconciliation for the current period.
If you are unclear about the reconcile process, contact your CSM for further guidance.