Bank Reconciliation
NAV 13
Bank Reconciliation
The bank account reconciliation screen can be found in the Cash Management section of
Financial Management.
Before running a reconciliation first make sure all bank postings have been made by the
purchase ledger and sales ledger teams. If not all postings have been made the reconciliation
will not balance.
Make sure to print out a bank statement for the period showing the transactions being
reconciled
Departments/Financial Management/Cash Management/Lists/Bank Account Reconciliations
Click on the link highlighted above. The screen will open as follows
Using the Navigation pane at the top of the screen click on “New” to create a new
reconciliation.
A new screen will open as follows.
The screen will not contain any information and all the information in the General tab needs
to be filled in before running the reconciliation.
First fill in the “Bank Account number” field. Either type in the bank account number or if it
is not known select using the drop down menu.
When filled in the system will automatically populate the “Statement Number” and “Balance
Last Statement” fields.
Now fill in the “Statement Date” and “Statement Ending Balance” fields with the information
from your bank statement.
Once all fields in the “General” tab have been filled in the reconciliation can be run.
Using the Navigation pane click on “Suggest Lines”.
A Small dialogue box will appear as follows
The starting date and ending dates will be populated based on the last reconciliation and the
date filled in earlier in the “General” tab.
Check to make sure these dates are correct and if so click on “OK”.
The system will now display as follows.
The right hand side of the screen displays all transactions which have not yet been reconciled
and which are available to assign.
The left hand side shows all of the transactions suggested to assigned to this reconciliation.
Transactions outside of the date range will not appear in the list on the left hand side of the
screen.
At the bottom of the left hand side of the screen there is a “Total Balance”. This figure should
match the “Statement Ending Balance” input earlier.
If it does not match the difference needs to be identified before the reconciliation can be
posted.
In this case a cheque has been cashed on 31/12/15 but has not yet cleared in the account. The
cheque has been posted to Navision to show that the money has been received but is causing a
difference in the reconciliation.
It needs to be deleted from the list in the left hand section of the screen. To do this “Right
Click” on the entry and choose “Delete Line”.
Once deleted the “Total Balance” on the left hand side now matches the “Statement Ending
Balance” in the general tab
You will notice the entry still appears in the right hand column. This is correct and will appear
on the reconciliation statement.
Once the “Total Balance” is correct the statement can be run. In the Navigation pane go to the
“Actions” tab and click on “Bank Account Reconciliation Statement”
A small screen will appear as follows. The dates will be automatically populated based on the
date range of transactions being reconciled.
Click on “Preview”
It is always a good idea to preview the statement before printing. This way you can check that
it is showing the correct information. If any adjustments need to be made go back and make
them now before going any further.
The print preview will display as follows
It gives you the account being reconciled, the date it is being done and the person who is
doing it.
The preview also gives the balance as per the statement at the top and the balance as per
Navision at the bottom.
Any differences between the balance are displayed in the middle.
In this case you can see that the cheque that has not cleared is displayed.
If everything is correct print a copy of this statement and attach the bank statement behind it.
Sign this printout to confirm that you have completed the reconciliation and file.
The print preview can now be closed and the reconciliation is ready to be posted to Navision.
Using the Navigation Pane click on “Post”
The reconciliation is now complete.
