Bank Reconciliations APSRC Finance Team

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Presentation transcript:

Bank Reconciliations APSRC Finance Team with Special Guest Charlotte Nichols

Bank Reconciliations

Get Ready Check the payroll interface Check the disbursement fund Keep a void and manual file Balance revenue and expenses

Balance Revenue Possible Problems Deposits not in the bank Deposits not on the books Amounts entered do not match bank Crossed period/statement days Journal entry that effected cash

Balance Expenditures Possible Problems Check dates/period Electronic payments not on the books Check didn’t clear

Where to Look Manual checks not recorded EFT’s JE’s that touch cash Clearing checks –wrong amounts Voids Timing- something that crossed periods Payroll interface

Tips in General Balance retirement, 941’s monthly Process in batches – balance each one Keep a void/manual file Keep a back rec log and if anyone has something odd record it

Fund Accounting/ Transactions

Fund Accounting/ Transactions

Which reports do you like to use?

Questions? Ask Charlotte