Opening for Bank

5.0. Opening for Bank

AlertAlert
STEPS:
  1. Click ADJUSTMENT activity
  2. Click OPENING GL module
  3. Click NEW
  4. Unpresented documents will be created 1 document per unpresented.
  5. Select Date and Account Code display on the top left module
  6. Enter value in Debit for Deposit
  7. Enter value in Credit for Withdrawer.
Let's assume
From Opening Bank Statement :
Bank balance as at 31 Dec 2024 is $10,000 
System balance as at 31 Dec 2024 is $9,900

Important to note the difference.
Bank balance is the balance from the bank. system balance is the figure from the system.

Openings date: 31 Dec 2024.
Go Live date from 01 Jan 2025 onwards

This guide will run through some sample entries.

Enter Opening Bank Balance refer to Bank Statement



Enter Unpresented GIRO


Enter Unpresented Payment


Enter Unpresented Receipt.



Checking Opening Adjustment

By adding the value of all your unpresented documents to the bank's reported balance, you are effectively bringing the bank's perspective in line with the payments you have already accounted for in your system.
If this adjusted bank balance matches your system's bank balance, it indicates that this particular aspect of your cash records is in agreement.
Bank balance + unpresented = System Balance.
Scenario focuses on the impact of opening unpresented documents.

Alert
STEPS:
  1. Click ADJUSTMENT activity
  2. Click OPENINGS
  3. Click OPENINGS ADJ. CHECK
  4. Select OPENING GL
  5. Click REFRESH
    Display on the bottom right module


Checking Bank Balance

Alert
STEPS:
  1. Click REPORT activity
  2. Click FINANCIAL
  3. Select BANK BALANCE
  4. Click REFRESH
    Display on the bottom right module
  5. Remember to select the correct date range


First Bank Reconciliation

Alert
STEPS:
  1. Click ADJUSTMENT activity
  2. Click CLOSINGS
  3. Select Bank Reconciliation
  4. Click NEW
  5. Display on the top  left module
    Select Bank - CAS1003
    Date - January 2025
  6. Click GENERATE
  7. For the first bank recon most of the box will be zero.
  8. Bank statement in Jan 2025 $11,400
  9. Enter $11,400 into Box 5



Result Bank Reconciliation

Alert
STEPS:
  1. Next Post by click + display on the top left module for entries that have been presented.
  2. The Difference should be zero, GREEN in Box 6 Difference display on the mid left module 
  3. If RED in Box 6 means that there are transactions that have not been entered.


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