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Manuals

Xyntax Systems#2, 118 Railway Street West

Cochrane, AB, T4C 2B5

These pages are for reference material only and are not intended for training purposes. Xyntax makes no representation or guarantee as to the validity or accuracy of the material contained herein.

Copyright © 2007 Xyntax Group Inc. All rights reserved.

This manual, as well as the software described in it, is furnished under license and may be used or copied only in accordance with the terms of such license. The content of this manual is furnished for informational use only, is subject to change without notice, and should not be construed as a commitment by Xyntax Group Inc.

Xyntax Group Inc. assumes no responsibility or liability for any errors or inaccuracies that may appear in this documentation. Xyntax Native Systems and Xyntax Systems is a wholly owned division and Trade-name of Xyntax Group Inc., Calgary, Alberta, Canada.

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Bank Reconciliation

Includes features to Version 7.07.03

Xyntax Product Documentation

Bank Reconciliation

Bank Statement ReconciliationIntroduction

The Xyntax Bank Statement Reconciliation (BR) program assists in the reconciliation of your General Ledger bank postings to your financial institution monthly statement. The reconciliation can be done based on a single GL account code or on multiple GL account codes which represent a single financial institute account (ie: same bank account used for AP and Payroll with different numbering sequence). During the reconciliation process the system creates a temporary or provisional work file to track and sort postings to the General Ledger bank account(s). This allows you to reconcile or un-reconcile entries without locking or preventing actual postings to the GL. Once the reconciliation is complete, the accounting period should be de-activated to prevent further posting to that period.

Preparation

To prepare for the reconciliation within the BR module, you must initialize the system by indicating the last reconciliation date currently in the system. This is the ending date of the last bank reconciliation in the system. For example: March 31/06 was the last bank statement date in which you manually reconciled your GL to the bank statement. This converts all entries in your cheque reconciliation program (done thru AP 22 or PR 22) to the new format, up to and including March 31/06. Outstanding or un-reconciled cheques, as of that date, will remain un-reconcilied. All other entries into the GL bank account(s) will be ‘flagged’ as reconciled.

IMPORTANT: It is very important that you initialize your Xyntax Bank Reconciliation module from a balanced or reconciled date. If you do not do this, the out of balance condition will likely continue.

Initial Setup

BR #10 (Define Bank Information)Enter Company Code which contains the bank GL account codeBank Code: Enter a unique identifier Bank Code (TDMAIN, ROYAL1, CIBC01, etc.). This code could represent multiple GL account codes1. Enter a GL bank account code. Additional GL bank codes may be added later.2. Enter a description for this account(s).3. Enter the Bank identifier (this will be used in later versions for electronic download options)4. Enter the branch or transit number of your bank.5. Enter the financial institution actual bank account number.

Once this is complete, if you wish to add more GL accounts to the same Bank account, select #1 G/L Accts:, and enter the additional GL account codes. Important: only group GL bank account codes which represent the same financial bank account (ie: Accounts Payable and Payroll use the same physical bank account at your financial institution but they are split in your GL accounts codes (ie: AP = 10110 and Payroll is 10120)).

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Bank Reconciliation #90

Update G/L Transaction File

This program initializes and ‘flags’ all entries in the GL as reconciled up to a certain date. Select the Bank Code (defined in BR #10 and the last Reconciled Date that the system contains.

IMPORTANT: It is very important that you initialize your Xyntax Bank Reconciliation module from a balanced or reconciled date. If you do not do this, the out of balance condition will likely continue.

You will run the program only once for each Bank Code to initialize the files in preparation of using the BR module.



Bank Statement Initialization

Select the appropriate Company CodeSelect the Bank Code (setup in BR #10)Enter the Start Date of the Bank Statement (this should be next day after the ‘Last Reconciled Date’ set in BR #90) that you wish to reconcile. If the system was initialized with a ‘Last Reconciled Date’ of March 31/06, then this date should be April 1/06.Enter the End Date (the final transaction date that shows on your Bank Statement).Enter the Opening Balance which appears on your statement.Enter the Closing Balance (including all Bank Fees and other entries which may not yet be in your GL) which appears on your Bank Statement.Enter total amount of any unreconciled cheques that were processed thru a non-Xyntax system and appear on the current Bank Statement. This feature is usually only necessary for new Xyntax installation where cheques from an older system are still showing up on the current Bank Statement.Press F1 to save the information.

After reconciliation of a period, the system will move the ‘Statement Closing’ amount to the ‘Statement Opening’ amount in preparation of the next period to be reconcilied (moved in BR #4). You will run this program for each period you wish to reconcile by entering the next ‘Statement Closing’ amount from the next Bank Statement.

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Manual Bank Reconciliation

This program replaces the old AP #22 and Payroll PR #80 cheque reconciliation programs. These older programs can still be used, however, it is recommended that you use this new program for all reconciliation procedures (cheques and other GL entries).NOTE: The program is titled ‘Manual’ Bank Reconciliation since futures version of this module will allow for automatic download of your Bank Statement directly into the Xyntax system.

Select the appropriate Company CodeSelect the Bank Code (setup in BR #10)Select the Reconciliation Starting and End Dates specified in BR #1 (the system will fill in the Start and End (Reconciliation) Date automatically.Enter the Type of GL transactions you wish to reconcile. Example: CD for cheques only, CR for AR deposits, A for All transactions, etc.

After you transaction type selection, a Summary screen will appear similiar to the following.

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Pressing the F5 function key will toggle the Summary Screen on and off. This allows you to see your balances as items are reconciled.

Reconcile items by moving the cursor (using your up and down arror keys) to the item you wish to reconcile. Pressing ‘ENTER’ at this time changes the line color and places a ‘REC’ at the beginning of the line. To un-reconcile; use the same procedure.


Pressing the F5 function key again shows that $4,012.01 worth of cheques have been reconciled.

Also the Outstanding Cheque amounts have decreased, showing only $230.00 left in the current (C) period. If more information and help in required to understand the different items on the screen and what they represent, press <F6> for help.

This screen describes in more detail what each item represents. Press ENTER when done and to go back to the summary screen.

Bank Reconciliation Summary Screen

WINTER FIRST NATION Sep 11/07 09:21 AM DRL 10110- BANK - BAND GENERAL ACCOUNT-All Centers Inquiry for Apr/2006 Grouped to: 10110 BANK - TORONTO DOMINION

Prof.Ctr Date Jr Refer Description/Code Amount Bal Fwd -Mar/06 1520,740.06 000 Apr01/06 CD CD0013 Ck0096:000096-000098 275.00- 000 Apr12/06 CR CR0003 Cash Rcpt 450.00 000 Apr12/06 CD CD0028 Ck0096:000105-000108 8,681.62- 000 Apr18/06 GJ GJ0015 INAC REVENUE 34,500.00 000 Apr19/06 GJ GJ0016 INAC REV 12,000.00 000 Apr29/06 CD CD0029 Ck0096:000109-000110 394.60- ------------------ Total Mth 37,598.78 1558,338.84

General Ledger Inquiry Screen (GL #30)

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2345

6

789

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23

3

3

44

1

234

5

6

789

Opening balance of GL for period. Will not likely be the same as Bank Statement opening balance.Total of all deposits created from AR system.Total of all cheques listed in the GL (AP and Payroll).Total of all General Journal (GJ) entries (entries which have not been identifi ed as CD’s, PR’s or CR’s).Balancing amount not accounted for in above entries (CR’s, CD’s and GJ’s). Amount will vary as items are reconciled.Reconciliation period closing amount from GL. Note: This amount will not likely be the same as your GL Inquiry screen unless your reconciliation date falls on the last day of your accounting period.Closing amount of your Bank Statement which was set in BR #1.Total amount of cheques unreconciled in current period.Total amount of cheques unreconciled from previous periods.

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Grouping Amounts

The Xyntax Bank Reconciliation program allows you to group items listed in your GL together for easier comparison to your Bank Statement. An example would receiving cheques over a period of several days. You would likely record the receipt of these cheques into the system, howver, you may not physically deposit them into your bank account until a later time. Therefore, the entry into your GL would show debit amounts in the bank representing the individual cheques being recorded, The Bank Statement would likely show the one deposit representing the total amount of all the cheques deposited.


Grouping Amounts.....continued

After reconciling these grouped amounts, press F7 function key to see the summary of grouped reconciled items.

Grouping of items for AR entries can also be recorded and shown if you are using the AR Suspense feature in the Xyntax AR module. These entries are shown as a ‘Prepared Bank Deposit’. After reconciling this item, press <F6> to view these items.


‘Unaccouted Balance” are entries or amounts on your Bank Statement which have not been recorded in your GL. This example shows SERVICE FEES from the bank which have not been recorded.

Press <F5> to view summary reconciliation screen.

Exit out of your BR module and enter General Journal postings for these fees.

Once completed, return to the BR module and reconcile this new entry in the GL.


Selecting <F5> will again show the reconciliation summary screen. In the example below the ‘Rec Variance’ is now $500.00.This amount is an item that went thru the GL for the month of Oct but did not show up in the Bank Statement for the month.

You can record this entry for a ‘manual’ carry forward to be reconciled on next month’s bank statement. After you exit out of the summary screen, press <F8> the Enter Bank Entries. Enter the information and amount into this screen. IMPORTANT: Make sure you specific the ‘Type’ as ‘M’ for manual carry forward.

Accept this entry, exit the screen and press <F5> to view the summary screen.


Bank Reconciliation

BR #3 Print Bank Reconciliation Reports

This program prints the Reconciliation Reports based on All or Selected Transactions

BR #4 Close Reconciliation Period

Once the period has been reconciled, it is important the close the period so that additional postings cannot be made to this bank account. This program also brings your closing balance forward to the next month.

Close this screen and exit from the program.

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