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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Current Checkbook Bala...
Microsoft Dynamics GP (Archived)

Current Checkbook Balance: Checkbook maintenance

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Posted on by l-thomas 1,325

Hello All

Please can someone explain to me in detail how the Current checkbook balance from the Checkbook maintenance window affects the totals in the Reconcile balances window of the Bank rec module?

We are doing our 1st bank reconciliation in GP and its not working. I need to understand how GP calculates the Checkbook balance as of Cutoff so that I can edit the CURRBALC field in the CM00100 table.

I've already entered my statement ending balance & statement end date, cut off date, ticked my transactions that have cleared, entered my adjustments for currency exchange diffs & bank charges. We're at the final stages of wanting to reconcile our checkbook now.

Also,  do I need to enter the Last Reconciled balance on the checkbook maintenace screen? Does this amount really affect any calculation?

Thanks,

Louella

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  • Community Member Profile Picture
    Community Member on at

    Are you a completelynew user to GP? ie has the Bank Reconciliation module been registered since you first started using GP...or are you using GP for a while...and only now have registered bank rec?

  • l-thomas Profile Picture
    l-thomas 1,325 on at

    We're been using GP for awhile - just completed a reimplementation - and now we've started using the Bank rec module. I'll tell you what I have done already: (1) deleted all the trxns that is not outstanding (2) ticked all my cleared items as at 30 Oct (3) entered my adjustments within the Bank rec adjustments window (4) edited the current checkbook balance in the CM00100 table with my last reconciled balance.

    I realised that step (4) was incorrect - I should insert that value in the "Last reconciled balance" field on the checkbook maintenance screen. So is there a way I can calculated my current checkbook balance (taking into consideration the bank rec stuff) so that I can make it balance?

  • Brian Wick Profile Picture
    Brian Wick on at

    Hi Louella,

    Thanks for your post.

    The Adjusted Book Balance pulls the Current Checkbook Balance from the Checkbook Maintenance window. If a cutoff date is not entered, it pulls the exact balance that you see in the window. If a cutoff date is entered, it will take the current checkbook balance and add any checks and subtract any deposits that were posted after the cutoff date.

    The Adjusted Bank Balance is calculated from the Statement Ending Balance - Outstanding Checks + Deposits in Transit. This amount will be recalculated when a transaction is marked or unmarked in the Select Bank Transactions window.

    The Adjusted Book Balance and Adjusted Bank Balance must equal before you can complete the reconcile.

    When implementing Bank Rec you should be entering the amount you last reconciled in the Last Reconiled Balance field which raises your checkbook amount or decreases it based on what you enter, then you should bring all the checks that have not been reconciled and proceed from there.  If you have never reconciled the checkbook, then I wouldn't enter any values in this field as you have no bank statement to go off of from a previous reconciliation.

    Thanks,

    Brian Wick

    Microsoft Dynamics GP Support

  • l-thomas Profile Picture
    l-thomas 1,325 on at

    Hi Brian

    Thank you for your comprehensive answer - this is good to know. However, I'm still unclear as to to proceed with our bank reconciliation task.

    I have a bank rec in excel for the month that I now want to replicate in Great Plains. This means (1) I have my Last Reconciled Balance (2) Statement Ending balance (2) reconciled checks & deposits (3) adjustments. How do I go about clearing the difference so that the Adjusted Book Balance and Adjusted Bank Balance is equal to complete the reconcile? I also need to ensure that the adjustments I've entered hits the GL accounts but not the difference.

    Thanks,

    Louella

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