Bank Reconciliations Report
This section describes the fields and descriptions on the Bank Reconciliations report.
The Bank Reconciliations report displays the financial bank reconciliations performed for each bank account. Both reconciled and outstanding amounts are displayed. The report displays seven tables for each bank account:
- The first table contains information about the bank account and the associated statement date for the latest bank reconciliation performed for that account, within the restrictions applied. The table is a vertical table.
- The second and third tables summarize the outstanding and reconciled balances, respectively. The balances are the opening and closing balances, as well as the movements related to outstanding and reconciled. In addition, the table that displays the outstanding balances also displays the balances of the G/L entries in Maconomy for comparison. Both of these tables are vertical tables.
- The fourth and fifth tables display the reconciled entries, one about debits, and one about credits.
- The sixth and seventh tables display the outstanding entries, one about debits, and one about credits.
Account
| Column | Description |
| Bank Registration No. | This row displays the registration number and payment agent of the bank account to which the reconciliation has been made. |
| Bank Account No. | This row displays the number and description of the bank account to which the reconciliation has been made. |
| Account No. | This row displays the number and name of the G/L account to which the reconciliation has been made. |
| Latest Statement Date | This row displays the statement date of the latest reconciliation performed in the selected period. If no reconciliations have been performed, the field is blank, and only outstanding figures are displayed for the account. |
Balances
The second and third tables are positioned left and right, but vertically aligned. The following table lists the left-hand table first, followed by the right-hand table.
| Column | Description |
| Closing Balance | This row displays the bank balance according to the reconciled entries made. This is the opening balance for the reconciliation to be (but not yet) performed. |
| Outstanding Debits | This row displays the total of outstanding debit amounts-the total of debit amounts that are still to be reconciled on the account. |
| Outstanding Credits | This row displays the total of outstanding credit amounts-the total of credit amounts that are still to be reconciled on the account. |
| Adjusted Bank Balance | This row displays the Bank Balance plus the Outstanding Debits minus the Outstanding Credits , thereby the estimated closing balance when the outstanding entries have been reconciled. |
| G/L Balance | This row displays the total of debit minus credit amounts from G/L entries in Maconomy, for the date interval provided when running the report. This value should match the Adjusted Bank Balance so that the outstanding entries that are being reconciled and the actual G/L entries behind them match. |
| Variance | This row displays the difference between the Adjusted Bank Balance and the G/L Balance . The value is a control value that states how the actual account balance matches the unreconciled and G/L entries in Maconomy. When the reconciliation to be performed balances, the variance should be zero. |
| Opening Balance | This row displays the opening balance of the bank account for the reconciled entries. When running the report, you must enter an interval of statement numbers. The balance is the opening balance of the first bank reconciliation statement designated. |
| Reconciled Debits | This row displays the total of reconciled debit amounts on reconciliation statements in the specified statement interval. |
| Reconciled Credits | This row displays the total of reconciled credit amounts on reconciliation statements in the specified statement interval. |
| Calculated Bank Ending Balance | This row displays an estimate of the bank account's ending balance, after taking the reconciled debits and credits into account. It is calculated as the Opening Balance plus the Reconciled Debits minus the Reconciled Credits . Thus, it should match the closing balance of the last statement in the specified interval. |
| Closing Balance | This row displays the closing balance as entered for the bank account when performing the reconciliation of the account. If no reconciliation has been performed, the balance is zero. |
| Variance | This row displays the difference between the Calculated Bank Ending Balance and the Closing Balance . The value is a control value that states how the account balance matches the reconciled entries within Maconomy. When the reconciliation balances, the variance should be zero. |
Reconciled Debits
| Column | Description |
| Date | This column displays the entry date of the reconciled debit amount. |
| Customer | This column displays the number and name of the customer to which the reconciled debit amount relates, if any. |
| Description | This column displays the description of the reconciled debit entry. This description is often carried through from the corresponding finance entry. |
| Amount | This column displays the reconciled debit amount. |
Reconciled Credits
| Column | Description |
| Date | This column displays the entry date of the reconciled credit amount. |
| Vendor | This column displays the number and name of the vendor to which the reconciled credit amount relates, if any. |
| Description | This column displays the description of the reconciled credit entry. This description is often carried through from the corresponding finance entry. |
| Check No. | If the reconciled credit entry relates to a payment by check, this column displays the check number. |
| Amount | This column displays the reconciled credit amount. |
Outstanding Debits
| Column | Description |
| Date | This column displays the entry date of the outstanding debit amount. |
| Customer | This column displays the number and name of the customer to which the outstanding debit amount relates, if any. |
| Description | This column displays the description of the outstanding debit entry. This description is often carried through from the corresponding finance entry. |
| Amount | This column displays the outstanding debit amount. |
Outstanding Credits
| Column | Description |
| Date | This column displays the entry date of the outstanding credit amount. |
| Vendor | This column displays the number and name of the vendor to which the outstanding credit amount relates, if any. |
| Description | This column displays the description of the outstanding credit entry. This description is often carried through from the corresponding finance entry. |
| Check No. | If the outstanding credit entry relates to a payment by check, this column displays the check number. |
| Amount | This column displays the outstanding credit amount. |
When running the report, you must enter an interval of statement numbers. The From Statement No. marks the number of the first reconciliation to include. The To Statement No. marks the last reconciliation to include. The Opening Balance of the reconciliations is then the opening balance of the first reconciliation in the interval. The Closing Balance in the same table is the closing balance of the last reconciliation in the interval. Thus, the opening balance is typically equal to the Bank Balance in the outstanding balance table.
You must also enter an interval of dates. This restriction only influences the G/L entries that are summarized in the row for G/L Balance and the calculation of the row Variance in the outstanding balance table. When running the report, you typically have the bank statement that indicates the date interval and statement number interval with which to run the report.