Step 2 - Reconcile cash accounts

Ajera automatically creates financial entries to your cash accounts when you perform tasks through these menu options:

  • > Manage > Bank Register
  • > Manage > Vendor Payments
  • > Manage > Client Receipts
  • > Manage > Payroll (Process Payroll)

Selecting your cash accounts when working in areas of Ajera other than those listed above (such as > Manage > Journal Entries) causes your bank registers and Trial Balance report to be out of balance.

Bank charges, interest, and miscellaneous entries should be entered into the bank register when you reconcile your bank statement.  

Note: This reconciliation procedure assumes that each bank account has a unique general ledger account.  

Use the reconciled bank statement for the month you are reconciling to the Trial Balance. See reconciling your bank register. If you are missing deposits in your bank register, verify that there are no outstanding pending deposits in > Manage > Client Receipts.  

  1. Print the Bank Reconciliation report from the Reconcile tab in > Manage > Bank Register:
  • Select the statement being reconciled.
  • Click the Print button.
  1. If your bank statement ending date is different from the date of the Trial Balance printed in Step 1- Reconcile the trial balance, print the Trial Balance report ( > Reports > Financial > Trial Balance) as follows:
  • In the Month field, select the Select Dates option, and enter the beginning and ending date of the period.
  • Ensure that the ending date is the statement date on the Bank Reconciliation report.
  1. Compare the Bank Reconciliation report to the Trial Balance report. If in balance, the Balance As Of on your Bank Reconciliation report equals the Current Balance on the Trial Balance report.
Note: Be sure that the Balance As Of date on the Bank Reconciliation report is the same as the Cutoff date on the Trial Balance report so that you are comparing amounts for the same span of time.

If in balance, proceed to Step 3 - Reconcile accounts receivable. Otherwise, complete the following instructions.

Cash account does not reconcile to the bank register

If your cash account balance in the Trial Balance does not equal the bank account balance on your bank register, follow these steps.

Ensure beginning balances are in balance

  1. Click > Setup > Company > Beginning Balances > Bank Account.

For each bank account, verify that the Register balance equals the account balance. These balances appear at the bottom of the Beginning Balances Bank Account window.

The Register balance is a calculation of the Ending balance adjusted with deposits and payments.

The Account balance is the amount from the Beginning Balance Trial Balance.

Determine if any journal entries need to be adjusted

  1. Print the Ledger report as follows: Click > Reports > Financial > Ledger report. Select the GL Cash account for the bank account being reconciled. Select the month that you are reconciling (for example, April 2012).
  2. Drill down on the GL Cash account to view the detail entries for session journals. Identify any items that have a description of Journal Entry. You can review journal entries in > Manage > Journal Entries > Existing tab (or click the entry on the Ledger report) to identify the session to print and review.

Because the cash account is a control account, you must determine why entries were made and if they were made in error.

Adjust erroneous entries using > Manage > Journal Entries. Deltek recommends that you enter bank adjustments and fund transfers through > Manage > Bank Register. For bank adjustments, such as interest and service charges, select the appropriate adjustment type. For fund transfers, select the adjustment type of Bank Transfer.

Determine if there are any future-dated entries

In > Manage > Bank Register > Register tab, the Bank Register Balance includes all bank entries, including future-dated entries. If any bank entries are dated later than the date you are using to reconcile, you must back these amounts out of the Bank Register Balance.

If these steps do not resolve the out-of-balance situation, contact Ajera Client Services or your Ajera consultant to discuss having Deltek analyze your data.