Page 45 - Participant Guide - Unanet GovCon Closing a Fiscal Period (2)

Bank Reconciliation

A monthly Bank Reconciliation is used to verify that the amounts recorded in the
General Ledger Cash account are consistent with the amounts on the bank statement.
The result could mean the need to include additional journal entries, such as bank
service fees, into the monthly close. You may want to review your bank statement prior
to beginning of month end processes in order to minimize the number of items that need
to be added during the Bank Reconciliation process.

Navigate: Financials > General Ledger > Bank Reconciliation

In Unanet, the Bank Reconciliation screen is used to perform bank account
reconciliations for bank accounts and for any account/organization combination that has
been defined as a bank account in the system (e.g., credit card accounts, PayPal, etc.).

Using a bank account statement, the GL Admin will enter the bank statement's
Statement Date and Ending Balance, this screen will calculate a new Ending Balance
and running Unreconciled Balance as additional items are marked for inclusion. The GL
Admin will check off the general ledger Checks/Credits and Deposits/Debits
transactions that correspond to the items on the bank statement. Once all items have
been cleared and the Unreconciled Balance has reached $0.00, the Bank Reconciliation
document can be marked Reconciled. Only one unreconciled Bank Reconciliation
document can be in progress at any one time for a Legal Entity/Bank Account; this
means that until a prior month has been marked as Reconciled, a reconciliation
document cannot be started for a new month.

Activity 6.1 Review Bank Reconciliation
Login as Glenda Manager (GL Manager) – glmanager / welcome

Activity Steps
1. Navigate: Financials > General Ledger > Bank Reconciliation

2. Search Bank Reconciliations using the following criteria:

BANK ACCOUNT Operating Account
STATEMENT DATE Fiscal Period Date Range
BANK RECONCILIATION STATUS Select All
COLUMN OPTIONS Select All

LESSON 6: RECONCILIATIONS
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