FAQ Bank Reconcilliation KBA

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Article ID: 4178

Subject: FAQ for Bank Reconciliation

Last Modified: February 8, 2013

Applies to: Pro Gold i2 3.xx

Navigation: Pro Gold Main Menu => Banking and Escrow Menu => Bank Reconciliation icon

Summary: Reconciling the bank account with the bank statement is part of maintaining a bank account in Pro Gold i2. The steps for reconciling a bank account can be found in the Pro Gold i2 user guide or during Topic 15 of the Online Tutorial videos and Training sessions. For more specific information on certain situations, see below for Frequently Asked Questions about reconciling a bank account.

1. How do I enter the first bank period to start the recon process for the very first time?

• Select the appropriate bank account

• Manually enter the beginning statement date in the Start Period field (e.g., 01/01/2013)

• Click Tab or Enter key

• Select the New Period button

• Click OK to the prompt to add all cleared transactions to current period

• Enter the Statement Ending Balance figure for the new period

• Verify/Modify the end date in the End Period field (e.g., 01/29/2013)

• Begin recon

2. How do I enter a non-standard bank reconciliation time period or I received the message “The End Period value you entered would overlap with the period…”?

• Select the New Period button to start a new bank period

• Enter the Statement Ending Balance figure for the new period

• Verify/Modify the end date in the End Period field (e.g., 01/29/2013)

• Select the Tab or Enter key

• Once the first transaction is cleared for a period, the date fields are locked and the reconciliation can proceed

- NOTE: If the reconciliation is already in process when the message about the date overlap appears, delete (i.e., Unclear) the cleared transactions (i.e., clear the entire reconciliation to start over) and begin with the steps above.

3. How do I restart the reconciliation?

• Delete (i.e., Unclear) all of the cleared items in the recent reconciliation

• You must clear the entire reconciliation to start over

• Close the Bank Reconciliation screen

• Open the Bank Reconciliation screen and the time period that you were working on will have been removed so you can restart the reconciliation

4. How do I enter a bank period that has no transactions?

• A period must contain at least one cleared transaction

• If the bank statement has no transactions for the period, create a check below the current check numbers in the bank account

- Go to the bank account in question and create a blank check (Click the New button)

- Change the check number to a number below the current check numbers (e.g., 0001)

- Start the numbers as low as you can go

- Check the Void box in the lower left of the check

- Return to your bank period

- Clear the Voided check

- Lock the period

5. I select the New Period button and get the same period?

• If you lock a period with no cleared items and select the New Period button, it will re-open the period that has no cleared items in it

• See FAQ 4 above

References: Below is a link you can use to access Enhancement HelpNet Center resources, which includes the Knowledge Base Article (KBA) Library, Pro Gold i2 Documentation, and Training Webcasts:

http://secured.progoldi2.com/webcast.aspx

• The Enhancement HelpNet links are located on the right side of the web page.

Related articles: N/A

Keywords: Bank Reconciliation, Bank Statement, Cancel, Frequently Asked Questions, FAQ, Non Standard Bank Period, Reconcile Bank Account, Restart, Time Period, 4178