For new/first time Fund Accounting clients, you may have prior year, uncleared checks on your bank statement that you need to account for when processing the Bank Reconciliation.
Find the last month’s bank reconciliation report to find any transactions that had not cleared the bank from a prior month/year. You can create a “pseudo check” in CMS that will be available to clear on your CMS Bank Reconciliation, but won’t affect your balance.
- From Ledger & Payables, click Enter Bills and if you have more than one bank account, select the appropriate bank account.
- Click New Bill.
- Create a bill for the vendor that was paid with a check from a prior month/year that has not yet cleared your bank.
- Under Item #1, enter the SAME SHORTCUT NUMBER AS YOUR BANK ASSET ACCOUNT, and then enter the amount of the check and a description, if needed.
- Click the Pay Bill button on the right and assign a Manual Check Number. Assign the check number of the check from the prior month/year that has not cleared your bank. Click Close.