Bank Reconciliations Single Dialog Workspace

Use this workspace to review your bank accounts to ensure that postings to your bank account and G/L accounts correspond, and that postings made by the bank (charges, interest, and so on) are posted to G/L accounts.

You can also use this workspace to reconcile entries, one-by-one, with the bank statement, looking for discrepancies.

If there is a discrepancy in the balances of the statement and the G/L accounts when they are reconciled, Maconomy issues a warning. Do not complete the reconciliation. However, if the bank statement contains erroneous entries that should not be posted to G/L accounts, you can complete the reconciliation.

The tab of this workspace shows the external accounts to be reconciled and the sub-tab shows entries that you have not yet reconciled.

You can sort the entries by entry date or amount. To show entries up to the closing date of the bank statement, enter the closing date in the Statement Date field.

If the statement shows that entries (for example, bank charges or interest) remain to be posted to a G/L account, you can create these entries here.

When you approve the reconciliation of the bank statement, Maconomy creates a bank reconciliation journal to be posted from the Posting Journal or Print Posting Journal workspace.

You can view approved bank statements in the Show Bank Reconciliation workspace.