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Cash Manage Bank Reconciliation

Am using Microsoft Dynamics SL 6.5, and we had been using our Bank reconciliation in the past and has also stoped using the reconciliation about 3 years ago and we want to start using it now, can somebody give the an ideal how to go about it in other to get my reconciliation right.

Thanks

Hi,

Here's how I approach that situation. I prefer to not follow the official "how to start over" guide from Microsoft.

You will need a current bank statement and a list of what is truly the outstanding checks & deposits (usually available from Excel or wherever you are tracking it).

1. Enter the new bank reconciliation amounts in Bank Rec = add a new record in this screen and enter the ending balance

2. Clear all outstanding checks and deposits. Verify that the list of outstanding checks/deposits now in Solomon matches your list previously kept in Excel. Cash Mgr has a feature that allows you to clear a range.

3. Verify that all check charges, and other items directly withdrawn from your bank account have been entered in Solomon.

4. The Bank Reconciliation screen will tell you how much your Cash Manager Balance differs from the bank. Use this amount in step 5.

5. Go to Cash Account transactions and adjust the cash Manager Balance to match the bank using an O-type entry (entry type that starts with O) because those don't post to GL. There is an O-type entry to increase cash in Cash Mgr, and one to descrease cash in Cash Mgr. You will choose the appropriate one based on whether Cash Mgr or the bank is higher in step 4.

6. Is the gL figure off Cash Manager? If so, you can identify the difference and adjust GL via a journal transaction.

Good luck!

Laura

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