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15. Account Item Clearing, Bank Recs.
1) Account Item Clearing
2) Account Cleared Items
3) Bank Reconciliations
4) Bank Cleared Items
5) Automatic Bank Reconciliations
6) ABR - Unmatched Items
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15.1 Account Item Clearing
Select the menu option Ledger|Account Item Clearing to open the Account Item Clearing List window.
Accounts that are marked for Open Item Clearing under Setup|Accounts are presented.
Select an account and double click the line or press F3 to open the detail window.
Set the Clearing Date and then double click under the Clear column those items (rows) which offset each other.
Items must balance to zero before  is enabled. Click, to confirm the items being cleared.
This functionality is used to help control and monitor accounts like, GR/IR Clearing and WIP.
It can also be used on accounts like VAT Control to mark individual VAT Input and Output items with the quarterly VAT settlement. Or other accounts like Salary and Wages Control, Pensions Control, etc.
Supplier and Customer accounts are listed, as the payment mechanism uses the same feature to denote items as being paid.
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15.2 Account Cleared Items
To view and change previously cleared items, place a tick against 'On drill down show cleared items only' before pressing F3 or double clicking the line.
Then in the detail window you can view items previously cleared.
To unclear an item just double click in the 'Clear' column to place a zero in the row.
The net balance must be zero before is enabled and any changes made can be saved.
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15.3 Bank Reconciliations
Select the menu option Ledger|Bank Reconciliation to open the Bank Reconciliation List window.
Only accounts with an Account Type of Bank are listed.
Select a bank account and double click the line or press F3 to open the detail window.
Set the Clearing Date and bank statement number, then double click in the Cleared column those items (rows) which appear on the bank statement.
The summary totals of Account Balance, Uncleared Items and Bank Statement balance are updated as items are marked as 'Cleared', that is, appearing on the bank statement.
When doing Customer Receipts, if the 'Docu Ref' is set to the Date/Number of the paying-in slip used, double click a value in the 'Docu Ref' column to have all items with the same Docu Ref value, marked as cleared. This is a useful feature to quickly clear numerous individual receipts for a paying-in slip total on a bank statement.
Click 'Sundry Item Jrnl' to enter items like interest and bank fees/charges that appear on the statement, but have not been previously entered.
On the 'Bank Sundry Charge/Interest' window set the amount and the account to be charged or credited.
On clicking OK a journal is created for the user entered values to the selected Bank account and charge account. This journal is immediately available in the 'Bank Reconciliation' window for clearing.
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15.4 Bank Cleared Items
To view and change previously cleared items, place a tick against 'On drill down show cleared items only' before pressing F3 or double clicking the line.
Then in the detail window you can view previously cleared items.
To unclear an item just double click in the 'Cleared' column to place a zero in the row.
The summary totals of Account Balance, Uncleared Items and Bank Statement balance are updated as items are marked as 'Cleared', that is appearing on the bank statement.
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15.5 Automatic Bank Reconciliations
To automatically reconcile items download a bank statement in CSV file format over the internet.
Then select the bank account and click 'Auto Bank Rec.' to open a window to process the CSV file.
Select the bank format and bank file to be used. Use a generic format setting the individual columns to be used if your particular bank is not listed.
Any unmatched items encountered are added to a table and displayed at the end of the process.
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15.6 ABR - Unmatched Items
Items not matched during the automatic matching process can be reviewed by selecting the bank account and clicking 'ABR' Unmatched Items'.
Use the window displayed to help complete a manual reconciliation. Unmatched items can be deleted a line at a time as they are accounted for in the manual process.
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