Bank Reconciliation Process

When you have received the bank file, use the Automatic Bank Reconciliation form to process the bank reconciliation:

1. Enter a unique reference number for the Update Log - this is your reference number for the process.
2. In the Interface field, select the interface format you want to use - this field displays a list for selection based on what you have previously set up, as outlined in Setup steps.
3. The Input File should point to the directory location of the bank file that is going to be processed (a default location is specified in the Interface Selection form).
4. Select Pre-Process to commence the reconciliation prerequisite steps. During these steps, Greentree runs through the bank file, and identifies which bank accounts are included in the file. There will be more than one where the file contains multiple headers. The pre-process matches the Account field in each new header line with the bank account numbers set up in Greentree Desktop.
5. If there are multiple bank accounts in the file, these will display in the table above, and you can select which accounts you want to process - you do not need to run them all at the same time.
6. Next, click the Process button to start the automatic bank reconciliation process. Greentree reads the bank input file, interpret the information in the file according to the interface specifications, and add this data to Greentree using the creation of new bank statements for selected accounts.

The matching process that occurs behind the scenes is different depending on the nature of the transaction being matched. First Greentree determines if the transaction is a debit or a credit. This is determined from the transaction code in the transaction line. Once established, Greentree applies this logic:

Once the process is complete, the Cash Management Automatic Bank Reconciliation form updates with this information about the import:

• Statement number;
• Statement date;
• First/last page number;
• Number reconciled;
• Number unmatched (transactions in the bank file that could not be matched to Greentree transactions using the criteria outlined above).
• Number miscellaneous (transactions that had a miscellaneous transaction code assigned to them).
• Opening balance;
• Closing balance

This process has automated:

• Reconciled transactions that were successfully matched, based on the criteria outlined above has selected them on the Transaction Selection tab in the new bank statement). The closing bank balance updates based on these selections.
• Added miscellaneous payment and receipt transactions to the Transaction Entry tab on the new bank statement. These transactions are reconciled. The closing bank balance updates based on these transactions.
• Added unmatched lines type R and P transactions) to the Transaction Entry tab on the new bank statement. These transactions are reconciled. The closing bank balance updates based on these transactions.

Post-Process Steps

You can run an Unmatched Items Listing from the Cash Management Reports menu. This displays any unmatched items of the selected bank account and statement/page numbers. If you know that there are transactions in Greentree which do match these transactions for some reason, the automatic process did not match them using the matching criteria), then you must reconcile those transactions.

To do this, go into the bank statement (Cash Management Bank Statement Entry) which was created by the process, delete the unmatched line.

You can also run a Bank Reconciliation report to print details of the reconciliation.

• How to Set Up a Bank Interface Format
• Review Sample File Specification from National Bank of New Zealand
• Review Sample File Formats