When you first use the accounting function, for reconciliation purposes, you must record any checks and deposits that affect a specified bank account's balance but that have not yet appeared on the bank statement.
You can enter uncleared items on the Outstanding screen. The screen lists all of the disbursements and receipts you have entered that have not yet been cleared on the Reconciliation screen. Items entered on this screen do not update your general ledger. After you close a year, uncleared items from the previous year are listed on this screen.
Items entered in, or listed on, the Outstanding Items screen appear in the Disbursements and Receipts panels on the Bank Reconciliation screen, and the totals appear in the Outstanding Checks and Deposits in Transit fields in the Reconciliation Summary panel.
To add or review outstanding items:
1. Select Reconciliation from the Banking menu to open the Reconciliation screen.
If this is the first time you are using the accounting function, the Disbursements and Receipts panels are blank. For reconciliation purposes, you must enter uncleared checks and deposits for the specified bank account to note them for your first reconciliation.
2. Click the Outstanding button to open the Outstanding Items screen.
If this is the first time you are using the accounting function, the Outstanding Items screen is blank.
If not, the screen lists all of the disbursements and receipts that have not yet been marked as cleared on the Reconciliation screen.
Items are listed in date order, oldest first. Columns identify the type of item, whether check or deposit, the reference number, date, and description for the item, the amount of the check or deposit, and the cleared date.
3. Use the drop-down list in the Type column to specify whether you are entering a record of a check or a deposit, enter the check, deposit, or other reference number in the Reference Number column, specify the date of the item in the Date column, use the Description column field to enter a descriptive indicator for the item, and enter the amount of the deposit or check in the appropriate column.
Only the Type, Date, and Check Amount or Deposit Amount columns are required.
Note: You can use the Tab key to move from column to column.
4. Click Save to save your entries, and click Reconciliation to return to the Reconciliation screen.
Your entries appear in the appropriate panel and are reflected in the figures for the period in the Outstanding Checks or Deposits in Transit fields in the Reconciliation Summary panel.