Bank Reconciliation - Loading and Clearing Files, Voiding Loads, Adjustments, Bank Transfers
Last Updated October 18, 2011
The Reconciliation screen is used to load or void bank files of cleared check data or to manually enter cleared check information. Cleared checks are those refund and remittance checks issued through TaxLedge or another similar program that have been processed by the tax office bank.
The Ledger Transactions tab can be used to enter manual adjustments such as bank fees, interest, deposits, etc. or to see a bank account balance. The Transfers tab can be used to record transfer from one account to another within the same bank.
Although file layouts often differ from bank to bank, they must be comma delimited (.csv). These files can contain both refund and remittance check data.
If you are not loading a file, see the instructions for Manual Clears/Adjustments.
Users must be assigned the GLTAXLEDGE_FOUNDATION role and the following user entitlements in the Tax Collection System. Click here to see how these roles are used to perform certain reconciliation actions. For V2 user security, the following tasks can be assigned: Automatic Clear, Manage Ledger Adjustments, and Manage Bank Transfers
ACTGL_BANK_RECON allows access to the Check Clearing screen.
GLAUTO_CLEAR – allows user to clear checks using the automated load process.
GLMANUAL_CHKCLEAR – allows users to manually clear checks.
GLRECON_FILE – allows users to create a reconciliation file.
GLRECON_SUPER – allow users to use the automated load process and to manually clear and unclear checks.
GLRECON_VIEW_ADJ - allow users toaccess the Transfers tab on the Ledger Transactions tab - view only.
GLRECON_DELETE_ADJ - activate the Delete checkbox on the Ledger Transactions tab . Users must also have the GLRECON_SAVE_ADJ entitlement.
GLRECON_SAVE_ADJ - activate the Process button on the Ledger Transactions tab. Users are able to add and change entries.
GLRECON_VIEW_ XFER - allow users to access the Transfers tab on the Transfers tab - view only.
GLRECON_DELETE_ XFER - activate the Delete checkbox on the Transfers tab. Users must also have the GLRECON_SAVE_XFER entitlement.
GLRECON_SAVE_ XFER - activate the Process button on the Transfer tab . Users are able to add and change entries.
To move the file of check data from the bank to the ACT 7 server,
- From TaxLedge’s Main Menu , click on Batch Menu. The TaxLedge Batch Menu will appear.
- Click the File Upload button located at the bottom of the screen.
- The File Upload form will appear.
- In the File to Upload field, enter the directory path and file name to be loaded. This will be a .csv file. The file name is case-sensitve.
Note: Use the Browse button to find where the file is on your local hard drive.
- Click Press to complete the upload.
- A confirmation page will display when the process is complete.
To clear the checks in TaxLedge,
- On TaxLedge’s Main Menu , click Check Clearing, then selectCheck Clearing. The Manual Clearing/Search screen will be displayed.
- Click the Load Bank File tab
- Click on the Bank drop-down list and select the bank whose file you are going to reconcile.
- If the proper account is not showing in the line below, click on the Account drop-down menu and select the correct account.
- In the File Date field, enter the date a file was loaded or any date desired by the tax office. This date is not validated.
- In the File Name field, enter the name of the file name you uploaded. This is case-sensitive. Be sure to enter the extension (.csv).
- Click Load File. The clearing process begins. The system will match up the refund and remittance check data from TaxLedge to the data on the file.. Checks will be cleared if they have not voided or previously cleared. A report showing accounts that could not be cleared will be available on the Batch Request screen. A message showing the batch request number (the Job Number) appears.
- Return to the Batch Menu and click Batch Requests. A row has been inserted for the clearing job. Start and End times will appear when it has finished. The error report includes checks in the file but not in TaxLedge, checks in both the file and TaxLedge but with different check amounts, and checks in TaxLedge that have been voided in TaxLedge. The file name and total number of records loaded are also given.
At this point, you can search for pre-existing data or make manually clear checks.
- To clear checks manually or to adjust individual check amounts that were cleared via a file, see the instructions for Manual Clears/Adjustments.
To void a load of cleared checks,
- In the Batch Sequence field, enter the request sequence number from the Batch Request screen that was generated when the file was cleared.
- Click Void Bank File. A confirmation message will appear when the process is complete.
To enter manual adjustments such as bank fees, interest, deposits, etc. or to see a bank account balance,
- Click the Ledger Transactions tab.
- To search for previously entered information, select a Bank from the drop-down list.
- Select an Account from the drop-down list
- Select a Transaction Type: All, All Debits, or All Credits.
- Choose a Sort Option: Check/Reference Number, Transaction Date, or Transaction Type
- (optional) Enter a date range in the Clear Date Range, Transaction Date Range, or Reference Number Range fields.
- Click Search. The bottom portion of the screen fills with the requested information.
- To do a different search, enter new search criteria, then click Search again. You do not need to clear the screen at this point.
- To enter a new transaction, click in a blank row in the bottom part of the screen. If the screen is fully populated, you can click Clear Screen to see these empty rows.
- Enter a Reference Number.
- Select a Transaction Type from the drop-down list: Deposit, Charge Back, Bank Interest, Bank Fee/Adjustment, Transfer, Check, ACH, or Wire.
- Enter the Transaction Date.
- Enter either a Debit Amount or a Credit Amount
- Click Process to save the data.
- To remove a transaction, check the Delete box next to that entry, then click Process. This does not delete the entry from the database, but sets a flag and removes the data from the screen and the account balance totals.
To record transfers that are done between bank accounts.
Following ATM design, you can only transfer From one account to another – so if you search on this screen you will only see the transfers that are related to the “from” account. You will not see the “from” and “to” transactions together on one screen because they belong to different accounts.