Bank Reconciliation Guide
Use this guide for account reconciliation and resolving imbalances between Cash Book and General Ledger.
Refer to the ‘Bank Reconciliation’ article for complete information relating to this function.
Step | Menu Path | Details | ✅ |
|---|---|---|---|
1 | Your school's secure file storage area. | Check the saved/printed Reconciliation Report for the previous period and ensure it is balanced The Reconciliation Report is time-dependent and therefore cannot be regenerated for a prior period. Please ensure you always save a copy of the final reconciliation report. | 🔲 |
2 | Parent Accounts TASS.web Finance > Parent Accounts > Receipting > Receipts. TASS.web Finance > Parent Accounts > Receipting > Bank Deposit Report. | Ensure all receipts have been banked All receipts must be processed through four stages:
Parent Accounts
Commercial Debtors
School Shop
If multiple School Shops exist, this must be done for each shop. | 🔲 |
Commercial Debtors TASS.web Finance > Commercial Debtors > Customer Transactions > Receipts. TASS.web Finance > Commercial Debtors > Customer Transactions > Bank Deposit Report. | 🔲 | ||
School Shop TASS.web Finance > School Shop > Shop Transactions > Receipts. TASS.web Finance > School Shop > Shop Transactions > Bank Deposit Report. | 🔲 | ||
3 | Parent Accounts TASS.web Finance > Parent Accounts > Period End > Post Period Activity. | Ensure receipts and payments have been journaled Process 'Period End > Post Period Activity' for each module processing receipts/payments. If multiple School Shops exist, this must be done for each shop. | 🔲 |
Commercial Debtors TASS.web Finance > Commercial Debtors > Period End > Post Period Activity. | 🔲 | ||
School Shop TASS.web Finance > School Shop > Period End > Post Period Activity. | 🔲 | ||
Accounts Payable TASS.web Finance > Accounts Payable > Period End > Post Period Activity. | 🔲 | ||
4 | TASS.web Finance > General Ledger > Accounts & Journal Info > Post Journals. | Ensure all journals are posted to the general ledger | 🔲 |
5 | TASS.web Finance > General Ledger > Cash Book > Bank Charges & Credits. | Record Bank Charges and Credits Additional withdrawals (Bank Charge / Debit) and deposits (Bank Credit / Deposit) appearing on the bank statement. The entry defaults to 'charge' and cannot be changed once the cash book entry is saved. To make corrections, it is recommended to create two entries in order to facilitate reconciliation:
| 🔲 |
6 | TASS.web Finance > General Ledger > Cash Book > Bank Reconciliation. | Split Deposits Use in cases of partial deposits received, e.g. merchant payments for Amex/Diners, delayed by bank clearance processing. (Split function is available for Partially Completed Bank Reconciliations.) Take care to accurately identify the correct deposit to 'split'. Use the receipt transaction source (Typ, deposit number (Ref), and identifier (Description) to confirm. | 🔲 |
7 | Receipts TASS.web Finance > Parent Accounts > Receipting > Receipts. TASS.web Finance > Commercial Debtors > Customer Transactions > Receipts. TASS.web Finance > School Shop > Shop Transactions > Receipts. | Identify 'missing' transactions Use the various modules to attempt to locate transactions you believe should be included. Use various filter data to locate source receipt transactions: Search by receipt/deposit/batch/posted/journal number. Check the reporting year/period of source transactions to ensure they have been recorded in the expected accounting period. When multiple bank accounts are in use, ensure the correct bank account is selected. If cash receipts are missing and bank feeds are not enabled for the bank account, check the relevant Bank Deposit Report and ensure the ‘Cash Book Posting Date' is the same as or prior to the Bank Reconciliation’s 'Closing Date' | 🔲 |
Unpresented Cheques TASS.web Finance > Accounts Payable > Supplier Transactions > Cheques filter by Reconciliation Status = 'Unreconciled'. | |||
8 | TASS.web Finance > General Ledger > Cash Book > Reconciliation Report. | Check for transactions posted in future periods Run the Reconciliation Report for a subsequent period to locate cash book entries inadvertently future-dated. For example, if reconciling for March, run this report for April or May. | 🔲 |
9 | TASS.web Finance > General Ledger > Accounts & Journal Info > Journals. | Cash Book / General Ledger imbalance Use 'Journal Code' and 'GL Account Code' fields to filter journals. General Journals posting to bank accounts cannot be created via the Journals program; to do this, a journal must be uploaded. Check Cashbook and GL summary totals on the Bank Reconciliation report to ensure they match. Check for General Journals posted to Bank GL Account(s) in this period. Investigate if found. | 🔲 |
10 | TASS.web Finance > General Ledger > Special Processes > Rollup History. | Cash Book / General Ledger imbalance Check the closing balance from the previous year with the opening balance from the current year. Investigate possible entries made in the previous year following the year-end rollover. Processes must be run together and can be run multiple times. Refer to the Finance Year End Checklist for more information. | 🔲 |
11 | N/A | Check your balances If the Reconciliation Report balances, print and save your report. If the Reconciliation Report does not balance after following the steps above, contact TASS Customer Care for further assistance. | 🔲 |
