Activant Prophet 21. Cash and Bank Reconciliation

Transcription

1 Activant Prophet 21 Cash and Bank Reconciliation

2 This class is designed for Customers who want to learn the Bank Reconciliation feature to facilitate balancing deposits and disbursements to your bank statement.

3 Objectives Set up Bank Account Maintenance Reconcile Cash Deposits and Journal Entries Reconcile Disbursements Use the Bank Reconciliation Worksheet Print the Outstanding Disbursements Report

4 This course will NOT cover Basic accounting processes that create deposits and disbursements

5 Cash and Bank Reconciliation Worksheet to reconcile checks and deposits Enter bank balance and adjustments Upon reconciling bank statement balance to cash account balance, transactions on worksheet will post as journal entries Generate bank reconciliation forms

6 Getting Started System Setup/System/System Settings/System Setup/Approvals

7 Getting Started Enable Bank Reconciliation in Bank Account Maintenance

8 Getting Started Only one bank may be assigned to a cash account Once enabled, system updates cash and disbursements as reconciled Won t allow postings to reconciled periods Cash account cannot be changed for a bank Delete bank and recreate with new cash account

9 Getting Started Restricts type of transactions that may use cash account Cannot be distribution account Voucher by Item or Amount Invoice Entry by Item or Amount Can be used for cash receipts, cash disbursements and journal entries Cash account cannot be used as default in customer, vendor or inventory records

10 Getting Started

11 Getting Started

12 Reconcile Cash Detail Bank Reconciliation GL Module Reconcile Cash Detail AR Deposits Miscellaneous Cash Reconcile Disbursements AP Check Generation

13 Reconcile Cash Detail Shows deposits and journal activity Compare bank statement deposits and transactions to those recorded in system Retrieve and reconcile on daily basis

14 Reconcile Cash Detail Step 1 Step 2 Step 3 hit Retrieve icon

15 Deposits Tab

16 Receipts Tab

17 Misc Cash and JE tab Displays individual transactions of a misc. cash receipt and/or journal entry

18 Reconcile Disbursements AP / Transaction / Reconcile Disbursements

19 Reconcile Disbursements Recall disbursement records as of a particular period and year Step 1 Step 3 Step 2

20 Reconcile Disbursements Voided checks remain outstanding until period in which they were voided

21 Reconcile Disbursements Voided checks remain outstanding until period in which they were voided

22 Reconcile Disbursements Voided checks remain outstanding until period in which they were voided

23 Outstanding Disbursements Report Report prints the checks that were outstanding AS OF the period selected Voided checks are outstanding until the period they have been voided Electronic outstanding items will be listed on the report

24 Outstanding Disbursements Report

25 Bank Reconciliation Worksheet

26 Bank Reconciliation Worksheet

27 Bank Reconciliation Worksheet Step 1 Step 2 Step 3: Retrieve to view balances

28 Bank Reconciliation Worksheet Step 4

29 Deposits Tab

30 Receipts Tab

31 Misc Cash and JE Tab

32 Disbursements Tab

33 Bank Reconciliation Worksheet

34 Bank Reconciliation Worksheet

35 Bank Reconciliation Worksheet

36 Cash Adjustments

37 Cash Adjustment Reversal Tab

38 Cash Adjustment Reversal Postings

39 Bank Reconciliation Report General Ledger / Reports / Bank Reconciliation Report

40 Bank Reconciliation Report

41 Summary Set up Bank Account Maintenance Reconcile Cash Deposits and Journal Entries Reconcile Disbursements Print the Outstanding Disbursements Report Use the Bank Reconciliation Worksheet

42 For More Information Prophet 21 Help Files Visit Activant on the web: View Educational Services course offerings Browse Documentation Search the Solutions database Submit a Support case Professional Services Sales pss@activant.com