CNA Getting Started - Bank Reconciliation: First one Post-Conversion

In ConnectNow Ledger & Payables, new features allow you to save and re-report reconciliations. Since these features are not available in the Desktop version of Ledger& Payables, the conversion process will prepare new ‘catch-up’ reconciliations in ConnectNow for each bank account in your chart of accounts and will require you to reconcile them before performing additional reconciliations.


Process, Bank Reconciliation.

These reconciliations will be in an unreconciled state and dated as of the end of the current accounting month.  Using your corresponding bank statement’sending balance, reconcile the reconciliation. These special reconciliations will:

  • List transactions from prior years along with their clear/uncleared status.
  • Include conversion history journal entries.
  • Take a little more time than normal to display the list of transactions and clearing or unclearing a transaction due to the number of transactions.

Enter the statement ending balance on the right of the page;the system will adjust the totals.  Ifthe difference is other than zero, additional research will be needed to findout why.  The difference must be zero toreconcile.

 

At the end of the list, you may be required to provide selection of Interest Income (Income) and Service Charge (Expense) accounts forthe bank account.  Please select accounts for each even though Interest Income and/or Service Charges may have already been recorded in the system or are zero.

Click the Submit button to save changes.  Submit when the difference is zero assumes you have reconciled the bank account and will reconcile the reconciliation and will not permit changes although you may view or print the Reconciliation Report for that reconciliation.  Once reconciled, you may continue with additional reconciliations.

 

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