Bank Code
The program initially displays the default bank code specified in the Bank Options window.
Use the Finder or the navigation buttons to select the code for the bank whose statements you downloaded.
Reconciliation Date
The reconciliation date determines the year and period to which the reconciliation is posted.
You must use a reconciliation date that is later than the one used when you last reconciled the bank account.
Year/Period
This field is not editable, and is determined by the date in the Reconciliation Posting Date field.
Reconciliation Cutoff Date
This field displays on the Reconcile OFX Statements window.
Imported transactions must have cleared the bank by the cutoff date to be included in a reconciliation.
You can reconcile only transactions posted in Sage HRMS Payroll to a date no later than the reconciliation cutoff date, including outstanding transactions posted to earlier fiscal periods.
When you leave the Reconciliation Cutoff Date field, the display changes to show transactions processed up to and including the specified cutoff date, for the specified year and period.
Match Deposits By
The Reconcile OFX Statements window lets you choose whether to reconcile amounts for the individual receipts that make up deposits, or reconcile deposit totals. The method you choose applies to all the deposits in the current reconciliation.
You should select the method that is consistent with the presentation of deposits on your bank statement. Select:
- Transaction to reconcile each receipt or receipt-related amount.
If your bank statement does not include details of individual receipts, do not select Receipt because the Reconcile OFX Statements function will not be able to match receipt amounts automatically to amounts on the bank statement.
- Deposit Slip to reconcile one amount for each deposit slip. While reconciling by deposit amount is generally faster, if there was a keying error or some other problem that caused the bank to report a different deposit amount than you recorded in Sage HRMS Payroll, you will have to reconcile each receipt amount manually.
Automatically Clear Reconciled Transactions
When you select this option, then click Reconcile, automatically matched transactions are immediately cleared from the table, leaving only transactions that you must reconcile manually.
This option can save you time if you have many transactions to reconcile. However, if more than one transaction uses a given amount, it is best not to select the option, to ensure that you clear the correct entry.
Transaction fields (in table)
Cleared
This field displays for downloaded transactions that matched your records, or for downloaded transactions that did not match your records. After you reconcile the unmatched transactions, this field changes from to for transactions that you manually matched to your records.
Bank Cleared Date
This is the date on which the transaction cleared the bank.
Transaction Type
This field displays the type of transaction recorded on the bank statement (that is, a payment or a deposit).
Transaction Number
The number associated with the transaction (a deposit number or a check number for example).
Reference
This field displays the additional information about the transaction that was entered in the Reference field of the Bank Entry window.
Comment
This is the value from the Comments field in the Bank Entry window.
Transaction Amount
This field displays the amount of the transaction that cleared the bank, in the bank's statement currency (which might be different than the source currency).
Buttons
Save
Click this button to save the reconciliation of OFX transactions that have a Cleared status of . When you click :
- The program adds transactions designated as bank entries to Bank Services.
- In the Reconcile OFX Statements window, the Reconciliation Status changes to Cleared.
Note: You should designate bank entries by clicking the button with the item highlighted before clicking the button, as the Bank Entry button is not available after you click .
Reconcile
Click this button on the Reconcile OFX Statements window to match Sage HRMS Payroll transactions automatically to the statement transactions listed on the table.
The program reconciles only statement transactions that cleared the bank on or before the Reconciliation Cutoff Date.
Clear
This button allows you to clear transactions manually from the Reconcile OFX Statements window. (You would use this method to clear a transaction that was unmatched because the bank used a different exchange rate than you used to convert the transaction from a source currency, for example.)
- On the Reconcile OFX Statements window, select the transaction that you want to clear.
- Click Clear.
The Reconcile OFX Statements Detail window opens.
- Select the transaction detail that you are manually clearing. (There may be more than one detail in the transaction.)
- Click the button on the Reconcile OFX Statements Detail window.
- If a message displays asking if you want to clear the transaction with an exchange difference, click .
- Click to return to the Reconcile OFX Statements window.
Bank Entry
Use this button when you need to enter a bank transaction that you have not yet processed in Sage HRMS Payroll.
The button opens the Bank Entries window, a modified bank entry window that lets you designate an unmatched OFX transaction as a bank entry (a service charge, interest income, or another type of bank transaction you use in your system).
This window includes only the fields you need for a single bank entry with one detail. However, it lets you record and post an entry in Sage HRMS Payroll, match the bank transaction to the posted entry, and clear the entry all at once.
Both bank entry window let you calculate and enter tax information for taxable bank entries.
When you post a reconciliation, Bank Services creates a General Ledger batch for bank entries.
Refresh
This button removes from the table the bank statement transactions that have as the value in the Cleared field.