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«4. Transactions on the right-hand-side in manual mode (already reconciled) can be unreconciled (by double-clicking on them). The system will adjust ...»

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MYOB EXO Finance

The Editing Process

To put the reconciliation into Edit mode:

1. Click Edit.

2. The system will then revise the GL Balance by re-selecting all GL transactions up to and including

the reconciliation date. Any new GL transactions that are unreconciled, and with a date on or

before the reconciliation date will now appear in the left-hand list. These new transactions can

then be reconciled in the normal manner.

3. Other transactions on the left-hand-side can also be reconciled – as long as they were not reconciled on a subsequent reconciliation. If they have been reconciled on a subsequent

reconciliation, an error message will be displayed:

4. Transactions on the right-hand-side in manual mode (already reconciled) can be unreconciled (by double-clicking on them). The system will adjust the total unreconciled value and the closing bank statement balance as this activity takes place.

5. When all the changes have been completed, click Save. If this is not the last reconciliation, the system will go to the next reconciliation where you can continue to edit, or just save it.

Note: It is important to save, otherwise the GL bank balance and opening/closing bank statement balances on subsequent bank reconciliations will not be revised and the data will be incorrect.

Deleting Reconciliations Utilities Bank Reconciliation {select the conciliation in the list} Tools Delete To remove an existing Bank Reconciliation from the system, from the Bank Reconciliation window (see page 449), select Tools Delete Reconciliation. This will also update the General Ledger transactions (see page

230) that have been flagged as being reconciled; it will set these to unreconciled.

If the reconciliation was a CSV reconciliation, all imported bank statement items will be removed from MYOB EXO Business’s internal record (deletes records from the database table bank_rec_uploads). The actual import file will not be deleted.

Note: Only the last Bank Reconciliation for a given GL Bank account can be deleted.

MYOB EXO Business User Guide Manual Reconciliations Setting up a New Manual Reconciliation Manual Reconciliations are bank reconciliations performed manually off a printed statement from the bank. This contrasts with a CSV Reconciliation (see page 461), where the reconciliation is performed against an electronic banking file provided by the bank.

To begin a manual bank reconciliation, the Manual reconciliation type must be selected.

To begin a new reconciliation, from the main Bank Reconciliation search/summary window, click New. The

following window will be displayed:

Enter the relevant settings as follows:

 GL Bank Account will default to the Bank Account on GL Controls. The drop-down list will start from this account.

 Enter new reconciliation number. The reconciliation number will increment from the last number used, but can be changed, for example to match a bank statement number. It cannot be set to a reconciliation number that has been used previously for this GL bank account.

 Select unreconciled GL transactions up to and including is the reconciliation date. MYOB EXO Business will work out the GL balance as at this date and will only show unreconciled GL transactions (see page 230) up to this date. For example, if on the 10th of July a reconciliation form the month of June is begun, enter a reconciliation date of 30 June, and the system will obtain the GL balance as at 30 June, and display unreconciled transactions with a transaction date less than or equal to 30 June on the left-hand-side of the window.

 Date of closing bank statement is held for information purposes only, to easily identify which statement file was being reconciled.

 Reconciliation type. Choose Manual for a manual reconciliation.

Once the set-up information has been entered, click OK to display the details window.

MYOB EXO Finance Reconciling a Manual Bank Reconciliation In manual mode, the left-hand-side of the window will show all unreconciled GL transactions, and the righthand-side represents reconciled transactions (those that appear on the bank statement).

To show that a GL Transaction is reconciled:

1. DOUBLE-CLICK on a single item from the left-hand-side.

2. Alternatively select items by left-clicking the mouse while on the appropriate row, and if more than one item is to be selected, then hold down the CTRL key while LEFT-CLICKING. Click the Reconcile button from the toolbar.

Either method will move the item from the left-hand-side to the right-hand-side, and adjust the Bank Statement Closing Balance.

To undo a reconciled item DOUBLE-CLICK on a single item from the right-hand-side-hand-side.

This will transfer the item from the right-hand-side to the left and adjust the Bank Statement Closing Balance in the process.

Calculate Selected The Calculate Selected function is to help the operator to work out which set of transactions on the lefthand-side agrees with which set of transactions on the right-hand-side.

To calculate selected item totals:

1. Select items on either side by left-click on the appropriate row. If more than one item is to be selected, hold down the CTRL key while clicking the appropriate row.

2. Click the Calculate Selected button on the toolbar. The system will sum the selected items and display these totals at the bottom of the window.

Searching for Transactions The Search function is used to find certain transactions from either side of the bank reconciliation details window.

To search for items:

1. Click the Search button on the toolbar. The Search panel is displayed.

MYOB EXO Business User Guide

2. Enter the search criteria and click Find:

 Cheque No is an exact match.

 Amount is an absolute value, so 100.00 will find both +100.00 and –100.00.

 +/- is a variance amount. So 10.00 +/- 0.05, would return values between 9.95 and 10.05, and those with values between –9.95 and -10.05.

 Details. Enter details text here. Any entries that contain this text will be returned.

3. The system will search both sides of the reconciliation for transactions that match the criteria entered. The system is looking for transactions where Cheque No equals that specified and transaction Amount equals that specified +/- the variance and where the transaction’s detail contains the Details text entered.

4. Matching transactions are displayed red, and the total number found is shown at the top of each column.

5. Click Hide to remove the Search panel.

Adding and Removing Entries in the Bank Reconciliation Cashbook Entries The Integrated Cashbook (see page 298) is available directly from the Bank Reconciliation.

To make a cashbook entry:

1. Select Tools Make Cashbook Entry.

2. If the transaction is dated on or before the reconciliation date, the transaction will be added to the list of unreconciled transactions on the Bank Reconciliation and the GL Balance that is being reconciling to will be adjusted for this Cashbook transaction.

Remove Items from General Ledger If there are two or more GL transactions in the bank account that net to zero, they can be removed from the list of unreconciled GL transactions.

1. Select the transactions by holding down CTRL, while clicking on the appropriate rows.

2. Select Tools Remove from General Ledger. These transactions will be removed from the list on the left-hand side. They will be flagged as “reconciled”.

MYOB EXO Finance

If the user attempts to remove transactions that do not net to zero, an error message is displayed:

Removing Bank Statement items If there are two or more items from the bank statement import file that net to zero, they can be removed from on the right-hand-side of the screen.

To remove bank statement items that net to zero:

1. Select the transactions by holding down CTRL, then right-click on the appropriate rows. Selected transactions will be highlighted, with the select box ticked

2. Select Tools Remove from Bank Statement. These transactions will be removed from the list on the right-hand-side. They will be flagged as ‘reconciled’.

Checking a Reconciliation A Check Reconciliation function will perform a quick check that the current reconciliation balances, and a more detailed reconciliation report can be run

To run the Check Reconciliation function:

1. Select Check Reconciliation from the Tools menu. The following window appears:

2. Click OK to continue.

A reconciliation summary report is available for printing.

Note: In CSV mode (see page 461) the reconciliation will not be reconciled while there are still items on the right-hand-side MYOB EXO Business User Guide

To create a bank reconciliation report:

1. Click on Reports Bank Reconciliation Details.

2. The system will produce the following, based on the current reconciliation being viewed.

Note: The report performs two integrity checks at the bottom of the form.

The report can be printed (using the button on the toolbar), and can be saved to file using File Save As. If saved in CSV format, the data can be retrieved into Microsoft Excel or similar for further analysis.

Closing the Bank Reconciliation

To complete a bank reconciliation:

1. Click Save to save the reconciliation. If the reconciliation does not balance the system will display the Check Reconciliation window (see page 459), to alert the operator that the reconciliation is not finished.

2. Alternatively, click Cancel to return to the search/ summary window without saving the new reconciliation.

Note: Any Cashbook entries and AP Processing transactions that were created during the reconciliation cannot be undone by clicking Cancel.

The system will perform the following updates upon saving a new bank reconciliation:

 Creates a new BANK_REC_LOG record  SEQNO New seq no generated  ACCNO The GL account number of the reconciliation  SUBACCNO The GL sub-account number of the reconciliation  RECONCILENO The reconciliation number entered  TRANSDATE The reconciliation date that was entered in “Select unreconciled GL transactions up to and including”.

 STMNT_OPENBAL From the window MYOB EXO Finance  STMNT_CLOSEBAL From the window  GL_BAL The GL balance displayed on window, i.e. sum(amount) all Gltrans where transdate = reconciliation date (bank_rec_log.transdate) for this account.

 DEPOSITS Unreconciled debit GL Transactions. Sum of debits on LHS  PAYMENTS Unreconciled credit GL Transactions. Sum of credit on LHS  GLTRANS_SEQNO Set to the last GLTrans that makes up the GL balance on the window. This is last seqno of Gltrans where gltrans.transdate = rec date on window for this GL account  RECTYPE Manual  STMNT_DATE New field. Set to the “Date of Closing Bank Statement”, also displayed on window.

 LOCKED Per window. Yes/no  GL_TRANS (updates to reconciled transactions)  RECONCILE_SEQNO Updated with the seqno of the new bank_rec_log  RECONCILE_NO From the window  RECONCILED Set to 1 (meaning it’s reconciled) CSV Reconciliation Setting up a New CSV Reconciliation Utilities Bank Reconciliation [New] {Configure then choose CSV File} [Ok] Note: The following procedure assumes that the CSV file format has already been set up according to the correct Bank Format (see page 469).

To create a new CSV reconciliation:

1. From the main Bank Reconciliation search/summary window, click New to create a new

reconciliation. The New Bank Reconciliation window appears:

–  –  –

3. Click the ellipsis button to browse to the import file that contains the bank transactions. The system will open the window to search for the import file. Select the file and click Open.

4. Having entered the setup information, click OK.

Performing a Bank Reconciliation In CSV mode, the left-hand-side of the screen will show all unreconciled GL transactions, and the righthand-side represents unmatched bank transactions from the import file. There are three ways to identify which item(s) on the left-hand-side matches to item(s) on the right-hand-side.

Note: Before manually trying to find the matches, MYOB recommends using the auto match feature (see page 463).

1. Double-click on a single item from the left-hand-side. The system will search for matching item(s) from the right-hand-side. These will be selected and shown in red.

Note: It is possible that more than one match is found on the right-hand-side. If more than one match is found, you will have to determine which is the correct match, and deselect the incorrectly selected items on the right-hand-side.

2. Select an item from the left-hand-side, then click Find Match on the toolbar. The system will search for matching item(s) from the right-hand-side, and show these in red – as described above. (This serves the same purpose as double clicking on an item).

3. Manually select matching items by left-click on the appropriate rows. If more than one item is to be selected, then hold down the CTRL key.

–  –  –

2. If only one item is selected from each side of the bank reconciliation, the SPACEBAR can be used to reconcile the items instead of clicking the Reconcile button.

Auto-Matching The auto match function automatically finds matching records and allows the operator to reconcile these.

To automatically match records:

1. Click Auto Match on the toolbar. The following screen is displayed:

–  –  –

MYOB EXO Business User Guide

2. Having defined the basis for the match, click Do Auto Match. The program will now attempt to find GL transactions that match with imported bank items using all of the criteria defined by the user.

The results will appear in the grid.

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