The Solution-IV Bank Reconciliation package pulls together all of your bank deposits from Accounts Receivable, and checks from Accounts Payable to assist you in doing your regular bank reconciliations.

Checks and deposits are posted automatically to the bank reconciliation files. After entering any adjustments, such as bank charges, you are able to mark checks, deposits and adjustments that have cleared the bank, enter the balances from your bank statements, and see if your bank accounts balance.

Features

Parameterized

The parameters determine which modules (Accounts Payable, Accounts Receivable and/or Payroll) will post to the bank reconciliation files. A default adjustments account, which will be used by Adjustments Entry, can be entered here as well.

Banks

An unlimited number of bank accounts can be maintained on your system.

Conversion

If you have been using Solution-IV Accounts Payable or Payroll without using Bank Reconciliation, an easy conversion program allows you to pull in any checks from the monthly check files. An entry program allows you to enter any open deposits.

Adjustments

Adjustment Entry allows you to enter any adjustments to your bank account such as monthly bank charges, returned check fees, etc. to enable you to do your bank reconciliation. You have the option of posting the adjustments to General Ledger, if they have not already been entered as journal entries.

Clearing Item Process

The Mark Cleared Items function allows you to mark checks, deposits and adjustments as having cleared the bank. This process is normally done as you receive your bank statements. You also have the option of "unclearing" items that were incorrectly cleared. The use of ranges makes this step very fast.

Reconciliation Process

After you have cleared all your items, simply enter the statement date and statement balance, and the system will determine whether your account is in balance or not. Outstanding deposits, checks and adjustments are shown on the screen, as well as the amount out of balance, if any. You can print a Bank Reconciliation Statement to help with any out of balance condition and to serve as a record of a balanced account.

Bank Reconciliation Inquiry

Bank Reconciliation Inquiry allows you to view the items in the bank reconciliation file by type -- checks, deposits, adjustments or everything. All items may be viewed, but not changed in the inquiry.

Solution-IV Applications

Other modules in the Solution-IV Library consist of the following:

• Accounts Payable*
• Accounts Receivable*
• Fixed Assets
• General Ledger*
• Inventory Control
• Order Processing
• Payroll*
• Purchase Order
• Prospect Management

* Integrated with Bank Reconciliation