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Bank Reconciliation on TOPS [ONE]

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Description  

This report will show the Bank reconciliation history for a given bank account.

Before rendering financial reports, all community bank account reconciliations should be completed. This makes sure that the cash being reported on reports matches the actual cash in the bank.

Sometimes board of directors will request a copy of each bank reconciliation report. 

The reconciliation report should quite simply provide a listing of monies going in and out of the bank account, along with the matching transactions in the General Ledger.

This article will give you a Step-By-Step guide on how to clear transactions and complete your Bank Reconciliation. 

 

Goal

Your Bank Rec should mimic your physical bank account. with that being said, the difference should always be 0. If you have a difference coming up, this could be caused by a transaction being cleared to soon, or a transaction wasn't entered into TOPS ONE yet. 

 

Step By Step

  1. Click Admin

2. Scroll down to the section that says Banks, select the appropriate bank. 

3. Go to the Accounts Section

4. Click Reconcile for the account  you want to work on.

This will take you to the Bank Reconciliation for the account you picked. 

5. Select Statement Date

6.Enter Bank Statement Balance

This is the ending balance you received from your bank for the Statement Date entered above.

 

Note: To enter a Date Range for the Bank Rec, or to Show Prior Year Entries, click Filters, then Apply Filters. 

 

Add a Service Fee (Optional)

Enter the Amount of the Fee

The Data to implement the charge 

And select the Account you want to add the fee to. 

Click the  when you want to add that charge

Add Interest Income (Optional) 

Enter the Amount of the interest income 

The Data to implement 

And select the Account you want to add the interest income to.

Click the  when you want to add that charge 

 

As you compare your transactions on your Bank Statement to those in TOPS,  Clear the transactions. 

7. To Clear the transaction, click the box next to the transaction you want to clear 

It will prompt you to add the Cleared Date

If you think you may have cleared a transaction by accident, disable the Show Uncleared Only toggle. 

To unclear a transaction, unclick the Cleared box. 

 

 

 

 

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    Cindy DeJesus

    Is there any way you can go back and clear out all entries and start the bank receonciliation over?

  • 0
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    Maria Reyes

    Good morning!

    Do you want to unclear items that have already been cleared?

    • If so, enter a statement date at the top of the bank reconciliation page. 
    • Deselect the toggle that says "Show Uncleared Only". The toggle should be gray. 
    • Your cleared transactions will have a check marked box, to unclear it, select the box to remove the check mark. 
    • Then click save at the top right corner
    Edited by Maria Reyes
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    Sherri Keefe

    I am thinking the wrong begining balance was originally entered because we cant balance through the bank rec but we can balance through the GL. How do I fix this so I can reconcile through the Bank Rec?