Bank Statements can now be reconciled for any period in the 3 current accounting years. JobOrder now stores both the Date of Bank Reconciliation (the date that appears on your bank statement) and the Date of Actual Reconciliation, which is the calendar date when you perform the reconciliation. Items are now color coded to show their reconciliation state, either un-reconciled or reconciled within the date range displayed or reconciled at a date later than the displayed date range. Until you see this feature in action you will not be able to visualize how powerful and useful it will be.
Bank Reconciliation also stores a History of Bank Statement Balances In a new area called 'Bank Reconciliation Snapshot', accessible through JobOrder Accounting.
Bank Reconciliation in JobOrder is an invaluable tool for monitoring cash on hand and resolving cash balance discrepancies. There are, however, several best practice procedures to make reconciling your cash accounts even easier:
Always have your bank statement on hand when reconciling. Reconciling from memory or based on a memo or email cannot match the accuracy of an official statement.
Reconcile as soon as you receive a statement from your bank. Reconciliation is a somewhat tedious, but necessary, exercise. Reconciling in a timely fashion just makes life easier.
Use deposit tickets. Either lump deposits using your own ticket number and store a copy with your receipt from the bank, or wait to create deposits in JobOrder until you have a ticket number from a bank receipt. Sometimes your bank statement will not itemize checks you deposit on your statement. Having a ticket number from your bank to reference in JobOrder makes reconciling deposits that much easier.
Please email if any of this information needs additional clarification.
Victor Siegle
JobOrder - Amplify business intelligence
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