Bank Maintenance

Note that it is necessary to set up your bank account details in bank maintenance before details will display on your bank deposit slips and allow you to carry out bank reconciliations.

Click on the "Bank Reconciliation" menu option and select "Bank Maintenance."

This section allows you to enter your bank account details and assign a general ledger number to the account.

NOTE: The bank accounts ledger range is limited to 1020 – 1029 which provides 10 bank accounts. AMwin will treat all ledger codes in this range as a bank account. You must not use these ledger numbers for any other purpose. 

Insert / Change / Delete Bank Account.

Insert:

To add a BANK account to the Bank Reconciliation file you can press the Insert Key. You are then required to enter the following information.

1. Account No - the account number for the required bank account. 

2. Ledger Is the Ledger account between 1020 and 1029 that is allocated to this bank account. These accounts must exist in AMwin. If the ledger account has an X against the account then it has already been allocated and cannot be used more than once.

3. Description Is the name of the bank account - eg ANZ Norwood

4. BSB Number Is the BSB identification number on the bank account. 

5. Click the OK Button to add the new record. 

Note - Bank account details can generally be found at the top of your bank account statement.

Change:

To change the bank account details left mouse click on the change button. Enter the new details and then click the Ok Button. 

Delete:

To delete a bank account, left mouse click on the delete button. This will NOT delete the ledger account, only the bank account for reconciliation purposes. 

Bank Reconciliation

The bank reconciliation screen is opened from a separate icon on the desktop. It is used to reconcile your bank statement against your AMWin banking records held in any of the available bank accounts in the 1020 - 1029 General Ledger range. The  bank reconciliation screen allows un-presented cheques and deposits to be reconciled to your bank statements. You can also use it to reconcile credit card and barter car accounts. 

Double left click on the BankRec Icon to open  the bank reconciliation screen.

The  bank reconciliation screen will open: 

When opened the screen will be cleared of all entries as per the image below.

Let's look at the "controls" at the top of this screen.

Display

The "display" window defaults to view unpresented payments and deposits. If you click on the down arrow at the right hand end of the display box you will be able to select either unpresented, presented or all deposits.

Sort Order

This field defaults to displaying transactions in ascending order [asc date] - that is latest at the top and oldest at the bottom.

By clicking on the down arrow at the left hand end of the "sort order" box you can select to view transactions in:

1. Ascending date - latest to oldest transaction in date order

2. Descending date - oldest to latest transaction in date order

3. By reference number - oldest to latest reference number in ascending order

4. By statement page number 

If you choose to have transactions in order of the reference code, you are able to type in the reference code for the transaction that you want and that transaction will be found and highlighted. 

Bank Account field

You must also select the bank account you wish to use from the BANK field. You can select any account between 1020 and 1029 as long as these accounts have been setup in the Bank Maintenance and in the general ledger. 

By clicking on the down arrow at the right hand end of this box you are able to select from any one of the bank accounts that you have set up in the system by its general ledger code. 

If you only have one bank account the system will have created 1020 as the general ledger code for your bank account.

You must select a bank account before any transactions are displayed on the reconciliation screen.

Show Single Page

You can click on this field if you wish to isolate a particular statement page for reconciliation. You are then able to select the page number selected for reconciliation thus isolating the transactions on the selected page.

Page Number

The statement page number entered when processing a reconciliation.

Checking your reconciliation screen against your bank statement.

You will now need to enter your bank account number so that the system knows which account you are working on.

Click on the down arrow at the right end of the bank account field and select from the displayed bank accounts - remember that 1020 will be the default bank account if you only have one account.]

Click on the down arrow at the right end of the display field to select the type of transactions that should be displayed. The system will default to un-presented.

The Balance Button

The Balance Button can be found at the bottom of the bank reconciliation screen.

This balance adjustment button should only be used when you first start and should not be used unless your system is out of balance with your bank statement. Once your system is in balance with your statement it should not be used as discrepancies in balances will now be found in transactions.

Enter your statement opening balance into the changing to field only if your system is out of balance. System should be in balance if you have reconciled this bank account to balance previously. 

NOTE: You will need to exit the Bank Rec screen and re-open it for the changes to take effect. 

The image below shows that statement balance is out of balance with the system should all of the un-presented deposits and payments be reconciled. 

This is shown by the following:

The imbalance amount of -204.40 represents the difference between the reconciled balance [ the balance of the bank account in the reconciliation]  compared to the actual balance of the bank account in AMWin. 

Therefore the balance in the reconciliation screen must be bought into line with the balance in the bank in AMWin before commencing your reconciliation. Open the balance screen and change the current balance in the reconciliation screen to that of the bank statement opening balance.

If there is still an out of balance amount then:

1. There are transactions [deposits or payments] that have not been entered and therefore are not showing in the reconciliation screen.

2. The balance in the bank account in AMWin is not correct and it will never reconcile with the bank statement. 

Once you are sure that the bank statement balance is correct in the "statement balance" field you can then commence your reconciliation.

Bank Reconciliation

Enter your statement page number in the page number field at the top of the screen. 

Enter the closing balance from your bank statement into the closing balance field at the bottom of your reconciliation screen.

From version four AMWin a "reducing balance" discrepancy is displayed at the bottom of the reconciliation screen. The discrepancy will decrease or increase as deposits or payments are tagged for posting. 

Your screen now should look something like the image below.

Remember that you sort your entries in the following ways.

1. Ascending date - latest to oldest transaction in date order

2. Descending date - oldest to latest transaction in date order

3. By reference number - oldest to latest reference number in ascending order

4. By statement page number 

Sort your entries and then click on the first entry. This will high-lite the entry in blue.

You can now double click on the hi-lighted entry or click on the toggle button at the bottom of the screen. The toggle button method is quickest as it jumps the blue hi-lite to the next entry ready for tagging - great for the times that your tagging a couple of hundred entries against a bank statement.

As you tag the entries you will notice several things happening.

1. The page number is being entered against each tagged transaction - this page number is the number paced in the page number field.

2. A dollar symbol is being placed against each tagged transaction indicating that the amount has been tagged.

3. The discrepancy figure is changing in the discrepancy field. The amount is equivalent to the tagged amount in the reconciliation screen.

Discrepancies

Should you still have a discrepancy after you have tagged all of the un-presented deposits and payments, and you have followed each of the above steps to the letter, you will find that there are entries on your bank statement that are not on your reconciliation screen.

These are probably bank fees, interest received or paid or a direct debit that has been deducted from your account that has not been entered into your system.

Entering in Balances not in your Reconciliation screen.

To insert an entry into Bank Reconciliation, left click on the Insert button. The Add Bank Transaction window will appear: 

You may change the Date in the Date field by typing a date into it.

Ledger: left click the button next to the Ledger field. A Select Expenses Ledger window will appear from which you can select the Ledger account you want.

GST Type: Left click on the down arrow next to the GST Type field and choose from GST, No GST, or acquisition. 

Type in a Description and Reference code in the corresponding fields.

In the amount column, type in the amount of the transactions to be inserted. 

Click on the OK button to insert the entry.

This entry will be entered in as un-presented.

Now continue your reconciliation until the discrepancy figure is zero.

Reversing a posting in the Bank Rec Screen

If you have posted a balance in your bank rec screen by mistake it can be reversed - Here's how.

1. Change to "un-presented" by clicking on the display presented/un-presented box on the top left hand side of the screen.

2. This will display your presented or posted records only

3. Click on the record that needs reversing so that it is hi-lighted with a blue line

4. Double click on the record that you want to reverse. This will place a dollar symbol in the "sel" column of the record.

5. Click on the post button and this will return the record to the "un-presented list.

Your reconciliation is now complete.