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Bank Statements

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Bank Statements

  • Updated

Available ONLY on Bank type accounts.

The Statement tab displays a listing of the bank statements received for the nominated bank account and provides a facility to balance each statement with the system.

To view previous statements open the Cashbook and display the Travel account, or any account to be matched to a statement and click on the Statement tab.

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The fields in the Statements tab are:

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Reconciling Bank Statements

When bank statements are received they can be reconciled with the system through the Cash Book Statement tab.

  • Open the Cashbook and display the Travel account, or any account to be matched to a statement.
  • Click on the Statement tab, Select the correct Bank Account from the drop down list, then click on the New icon on the toolbar or press Ctrl+N.

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  • Complete the following fields as required:
    • Date
      • This field defaults to today’s date. This date may be changed to the date of the Bank statement.
    • Page No
      • This field automatically increases by 1 for each new statement screen created.
      • If possible, this should match the bank statement page number. Ensure with the first statement to be reconciled that the page number is set correctly.
    • Opening Bal
      • After the initial installation of CCTE, to reconcile the first statement, the opening balance of the statement must be entered into this field. Once the first statement has been reconciled, the opening balance is system-generated from the previous statement’s closing balance.
    • Closing Bal
      • Input the closing balance from the printed bank statement. If this is a Debit Balance input the figure as a negative, e.g. -200.00. The system automatically converts this to DR.
  • Click on the Add button to display the Add Statement Items window.

Bulk Payment and Direct Debit items appear at the end of the list. Use the scroll buttons to view all items.

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  • Click on each item in the Add Statement Items screen as they are matched back to the bank statement. When complete click on OK.
  • The selected items are transferred to the Statement window and a Calculated Closing Balance is automatically entered in this field in the top right corner of the screen.

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  • Changes can still be made to the reconciliation using:
    • Add - Click on the Add button to redisplay the Add Statement Items window, and then select item(s) as required
    • Remove - Highlight the item(s) to be removed then click on the Remove button.
  • When the statement remains unreconciled, the Unreconciled Amount field shows the outstanding amount.
  • When finished click on OK.

The Statement Summary screen is automatically redisplayed with the completed statement as the first line. A page number has been assigned and the status is C for confirmed.

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If a statement was reconciled (i.e. the Closing Balance and the Calculated Closing Balance were equal), the Balanced column in the Statement summary screen would show Yes, otherwise it would show No.

 

Finalising your Statement

VERY IMPORTANT - Do NOT finalise statements unless the user is certain these are correct and do not require any further modifications.

Once a reconciliation has been finalised no further changes can be made to the statement itself or to any transactions shown on the statement. Please seek the advice of your accountant regarding this procedure.

A Detailed Bank Reconciliation report MUST be run to verify that the bank account is reconciled to the system Cashbook account.

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