Enter the code used in Sage HRMS Payroll for the bank account you are reconciling.
After you enter the bank code, the program displays the description, bank account number, and statement currency from the Bank Services bank record. If you reconciled the bank account before, the program also displays the previous statement date, reconciliation date, closing statement balance, and reconciliation description.
After you enter a bank code, Bank Services displays the bank account number specified in the Bank record.
On the Bank Transfers window, this field is named Bank Account.
You use this field to enter a description for the current reconciliation.
The adjusted statement balance is the statement balance plus deposits outstanding, less withdrawals outstanding, plus deposit bank errors, minus withdrawal bank errors.
When you are finished reconciling, the adjusted statement balance should equal the adjusted book balance.
This amount is the total of all deposits that have been entered in your books, but not yet cleared by the bank, at the statement date.
This amount is reduced as you clear deposits that display on the bank statement.
You record bank errors to clear deposits or withdrawals that your bank processed for different amounts than your company processed in Sage HRMS Payroll, after you have determined that the difference is due to a bank error.
The program sums the differences from deposits that are cleared with bank error, and it displays the total, which can be positive or negative, as Deposit Bank Errors. Similarly, the program sums the differences from withdrawals cleared with bank error status, and displays the total as Withdrawal Bank Errors.
When you post the reconciliation:
- If the difference is less than or equal to the error spread specified in the Bank record, the difference is marked Cleared With Write-Off, and the error is posted to the General Ledger Error/Write Off account. These transactions are removed from the list of outstanding transactions.
- Transactions that are cleared with bank error status remain on the list of outstanding transactions with an amount equal to the error amount. You clear them in a future period, when the bank statement shows the correction.
Type the ending balance from the bank statement. During bank setup, use the most recent bank statement.
If you are reconciling the bank account, type the date that ends the period covered by the bank statement (the statement cut-off date). The statement cut-off date is usually printed near the top of your bank statement.
If you are setting up Bank Services, use the most recent bank statement date.
If you are reversing a payment, enter the date of the reversal.
This amount displays on the Summary tab of the Reconcile Statements window.
It is the total of all payments and other withdrawals that are outstanding as of the reconciliation date.
The Withdrawals Outstanding amount is reduced as you mark these items Cleared.
The adjusted book balance is the book balance, minus bank entries, minus write-offs, minus credit card charges, plus exchange gain, minus exchange loss.
The adjusted book balance should equal the adjusted bank balance. If it does not, you need to reconcile the difference displayed in the Out Of Balance By field.
This amount is the total of all bank entries that are not yet posted.
It includes both entries you record on the Reconciliation tab to reconcile outstanding transactions and transactions you add using the Bank Entries window.
This field displays the balance in your Bank Services bank account as of the Reconciliation Posting Date.
To see how the balance changed since you last reconciled the account, click the button (
) beside the Book Balance field.
The program subtracts the total credit card charges you record during reconciliation from the book balance displayed on the Summary tab.
The total of all exchange gains calculated when you enter information about clearing check and deposit amounts.
If the net currency exchange calculations result in a loss, the loss amount displays in the Exchange Rate Loss field, and a zero displays in the Exchange Gain field.
The total of all exchange losses calculated when you enter information about clearing check and deposit amounts.
If the net currency exchange calculations result in a gain, the gain displays in the Exchange Gain field, and a zero displays in the Exchange Loss field.
he program calculates the difference between the adjusted statement balance and the adjusted book balance and displays the result on the Summary tab and on the Reconciliation tab of the Reconcile Statements window.
When you have reconciled the bank account, the amount is zero.
You cannot post a reconciliation until the Out Of Balance By amount is zero.
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.
The Year/Period field is not editable, and is determined by the date in the Reconciliation Posting Date field.
This field on the Summary tab of the Reconcile Statements window displays the total of all discrepancies between your books and the amounts at which the bank cleared transactions. If a discrepancy is greater than the error spread you specified on the Account tab of the Banks window, the discrepancy is marked Cleared with Bank Error and does not display here. However, if the discrepancy is less than or equal to the error spread, the transaction is marked Cleared With Write-Off, and the discrepancy displays here.
Use this button to update amounts on the Reconcile Statements window's Summary tab, particularly after you record bank entries or if you change the reconciliation date.
If the calculation shows that the Adjusted Bank Balance equals the Adjusted Book Balance, you can post the reconciliation. (You have reconciled the bank account.)
This field displays in the lower part of the Reconciliation tab on the Reconcile Statements window.
The field shows the total amount of deposits you have cleared.
The program recalculates the amount after you leave a line on the table.
You use this field to restrict the list of transactions to those that are outstanding or cleared.
The default status, All, displays transactions regardless of their reconciliation status.
The program calculates the difference between the adjusted statement balance and the adjusted book balance and displays the result on the Summary tab and on the Reconciliation tab of the Reconcile Statements window.
When you have reconciled the bank account, the amount is zero.
You cannot post a reconciliation until the Out Of Balance By amount is zero.
Use this field to sort the listed transactions by transaction date or number.
This field lets you filter the transactions that are displayed on the Reconciliation tab.
The program lists all transactions by default. However, you can select Deposits to restrict the list to deposits, or you can select Withdrawals to display only payments and other types of withdrawals.
This field displays in the lower part of the Reconciliation tab on the Reconcile Statements window.
The field shows the total amount of withdrawals you have cleared.
The program recalculates the amount after you leave a line on the table.
When you change the status of a selected payment or a deposit from Outstanding to Cleared or to another status, the program enters the transaction amount from your Sage HRMS Payroll records as the cleared amount.
The cleared amount should always be the same as the amount shown on the bank statement.
If the transaction cleared the bank with a different amount:
- In the Cleared Amount field, type the amount shown on the bank statement for the transaction.
The program displays the difference between the amount processed in Sage HRMS Payroll and the cleared amount.
- In the Reconciliation Status field, select Cleared with Bank Error or Cleared With Write-Off as the reconciliation status.
When you post the reconciliation, Sage HRMS Payroll creates a new transaction for the difference. Transactions created for differences due to a bank error display on the next period's reconciliation with Outstanding status.
The program displays the payment date, deposit date, transfer posting date, bank entry date, or reversal posting date, depending on the transaction.
This column displays the amount of each deposit in the source currency.
To drill down to the receipt batch in the source application, where you can view the individual receipts that make up the deposit, select the detail line on the table, and then click the 
(drilldown icon) Deposits column heading.
The read-only description displayed in this field depends on the type of transaction. Sage HRMS Payroll displays the:
- Payee Name (or Remit To Name) for a payment.
- Deposit Description for a receipt.
- Bank Code for the other bank (not the bank you're reconciling) involved in a transfer, and for or a transferred service charge.
- Entry Description for a bank entry.
- Customer Name for an NSF check.
Sage HRMS Payroll displays the difference between the payment or deposit amount and the cleared amount for reconciled transactions.
Depending on the transaction, the check number, deposit number, transfer number, or bank number displays in this field.
For returned (NSF) checks, the program displays the receipt number in this field.
This column lets you clear outstanding transactions with a mouse click: you simply double-click in the Reconciled column for an outstanding transaction, changing the field entry to an X.
The program immediately copies the payment amount or the deposit amount to the Cleared Amount field, and it changes the Reconciliation Status field to Cleared.
Note: You cannot reconcile unposted bank entries. You must post them, first.
This date is a record of the date you reconciled the transaction. The date you entered on the Summary tab displays as the default when you change the reconciliation status from Outstanding to another status.
If you forgot to reconcile a bank and the transaction was supposed to be reconciled on a date that has already passed, the program lets you enter the date the that the transaction was supposed to be reconciled.
If you enter a future date in this field and the Bank Services option Check For Cleared In Future Periods is set to Error, you must enter a date that falls in the current period before you can continue. If the option is set to Warning, the system warns you, but it does not prevent you from entering a future date.
Amounts that are cleared to a future date are added to the amount displayed in the Cleared In Future Period field on the Totals tab.
Note: This date is for reporting purposes, and is not used in multicurrency calculations.
This field displays as the default description for individual reconciled transactions. You can change the description for a particular reconciled transaction, if necessary.
If, after reconciliation, there is an amount that has to be written off, this field shows the fiscal period to which the write-off entry will be posted.
Use this field to set the reconciliation status for a Deposit or a Withdrawal. A transaction is reconciled when you change its status from Outstanding to another status.
A deposit can have one of the following status types:
Not Posted status is used for:
- Bank entries that you have saved, but not yet posted.
- Accounts Receivable deposits that include unposted receipt batches. (The batch total is zero in Bank Services.)
Once you post a bank entry or a deposit batch, its status changes to Outstanding.
A deposit (receipt batch) or transfer that has been posted but not cleared has Outstanding status.
You assign this status to a deposit that cleared the bank with an amount different from the deposit total posted in Sage HRMS Payroll, if the error is greater than the spread specified in the bank record.
When you post the reconciliation, the error is carried forward as an outstanding transaction for the next reconciliation.
The Totals tab of the Reconcile Statements window shows the total amount of deposit bank errors for the current reconciliation.
On the Reconciliation Status Report, a deposit bank error displays:
- In the deposits section, if it will increase the bank balance when it is corrected. Such errors include:
- Deposits that cleared the bank for an amount less than the actual amount.
- Payments and withdrawals that cleared the bank for an amount greater than the actual amount.
- In the withdrawals section, if it will reduce the bank balance when it is corrected. Such errors include:
- Deposits that cleared the bank for more than the actual amount.
Withdrawals that have not cleared the bank have one of the following statuses:
This status applies to withdrawals that you entered using the Bank Entry window, but which you have not yet posted.
A payment that was reprinted during a check run, or that was in a canceled check run, or that was printed for a payment entry, but then deleted from a batch.
This type of check is cleared automatically when you post the bank reconciliation.
An outstanding check is one that has not yet been paid by the bank.
All posted checks (other than alignment checks, continuation checks, or incorrect or damaged checks that the subledger voided during posting), as well as transfers and transfer charges, initially display with a status of Outstanding.
You assign this status to a payment or withdrawal that cleared the bank with an amount different from its issued amount, if the error is greater than the spread specified in the bank record.
When you post the reconciliation, the error is carried forward as an outstanding transaction for the next reconciliation. The Totals tab of the Reconcile Statements window shows the total amount of withdrawal bank errors for the current reconciliation.
On the Reconciliation Status Report, a withdrawal bank error displays:
- In the withdrawals section, if it will reduce the bank balance when it is corrected. Such errors include:
- Payments and withdrawals that cleared the bank with an amount less than the actual amount.
- Deposits that cleared the bank with an amount greater than the actual amount.
- In the deposits section, if it will increase the bank balance when it is corrected. Such errors include:
- Withdrawals that cleared the bank with an amount greater than the actual amount.
A payroll check that has been paid by direct deposit through electronic transfer of funds.
This type of check can be cleared in the same way as an outstanding check.
A check that was printed with an advice that carried over onto a new check form. This type of check is automatically cleared when the bank reconciliation is posted.
Printed status is assigned to payments that have been entered in Accounts Payable, but are not yet posted to the bank.
At setup, payments have Printed status until you post the setup reconciliation.
When you post a payment, or the setup reconciliation, the status changes to Outstanding.
You cannot change Not Posted and Printed statuses
If, after reconciliation, there is an amount that has to be written off, this field shows the fiscal year to which the write-off entry will be posted.
This column displays the amount of each payment or other withdrawal in the payment currency.
To drill down to the original payment, select the detail line on the table, and then click the 
Withdrawals column heading. The payment displays in the entry window in the source application.
This button displays on the Reconcile Statements window and on the Reconcile OFX Statements window. You use it when you need to enter a bank transaction that you have not yet processed in Sage HRMS Payroll.
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.
This button lets you open the Deposit Details window to see the receipts included in a deposit that has multiple receipts and to drill down to a selected receipt in the source application.
To use the button:
- Select a deposit on the Reconciliation tab.
- Click Details.
To learn more about the Deposit Details window, read About Deposit Details or see the Deposit Details Field List.
Click this button on the Reconciliation tab to open the Quick Clearing window, where you can clear a range of deposits or payments, or reset their status to Outstanding.
The Totals tab of the Reconcile Statements window shows separate totals for withdrawals and deposits cleared in the current reconciliation.
You assign this status to a deposit that cleared the bank with an amount different from the deposit total posted in Sage HRMS Payroll, if the error is greater than the spread specified in the bank record.
When you post the reconciliation, the error is carried forward as an outstanding transaction for the next reconciliation.
The Totals tab of the Reconcile Statements window shows the total amount of deposit bank errors for the current reconciliation.
On the Reconciliation Status Report, a deposit bank error displays:
- In the deposits section, if it will increase the bank balance when it is corrected. Such errors include:
- Deposits that cleared the bank for an amount less than the actual amount.
- Payments and withdrawals that cleared the bank for an amount greater than the actual amount.
- In the withdrawals section, if it will reduce the bank balance when it is corrected. Such errors include:
- Deposits that cleared the bank for more than the actual amount.
You assign this reconciliation status to deposits that clear the bank for amounts different from their posted amounts, where the difference is less than the error spread specified in the bank record.
The Totals tab of the Reconcile Statements window shows the total amount of deposits cleared with a write-off.
The Totals tab of the Reconcile Statements window shows separate totals for withdrawals and deposits cleared in the current reconciliation.
You assign this status to a payment or withdrawal that cleared the bank with an amount different from its issued amount, if the error is greater than the spread specified in the bank record.
When you post the reconciliation, the error is carried forward as an outstanding transaction for the next reconciliation.
The Totals tab of the Reconcile Statements window shows the total amount of withdrawal bank errors for the current reconciliation.
On the Reconciliation Status Report, a withdrawal bank error displays:
- In the withdrawals section, if it will reduce the bank balance when it is corrected. Such errors include:
- Payments and withdrawals that cleared the bank with an amount less than the actual amount.
- Deposits that cleared the bank with an amount greater than the actual amount.
- In the deposits section, if it will increase the bank balance when it is corrected. Such errors include:
- Withdrawals that cleared the bank with an amount greater than the actual amount.
You assign this reconciliation status to withdrawals that clear the bank for amounts different from their issued amounts, where the difference is less than the error spread specified in the bank record.
The Totals tab of the Reconcile Statements window shows the total amount of withdrawals cleared with a write-off.