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Using bank reconciliation in AE Practice Manager

This support note applies to:

  • AO Practice Manager (NZ)

  • AO Practice Manager (AU)

  • AE Practice Manager (NZ)

  • AE Practice Manager (AU)

Article ID: 34464

The bank reconciliation feature allows you to:

  • View the receipts and payments that have been posted from the sales and purchase ledgers and through cash book payments and receipts

  • Reconcile your banking statements to the payments and receipts posted to the bank account.

See Setting up the bank reconciliation in AE Practice Manager for detailed instructions of how to setup the bank reconciliation and opening cash book balance.

Within Practice Manager, Disbursement Sheets can be copied to another day's disbursement sheet if these have been entered against an incorrect date.

To reconcile the bank account to the bank statement

  1. Follow the menu path Bookkeeping > Bank Reconciliation.

  2. Select the Company from the drop down list.

  3. Select the Bank from the drop down list.

  4. Set the Date To if required.

    The Date To field is not mandatory. The field displays the current date and can be changed as required. All unreconciled items are displayed and you are then presented with the cash book balance as available in the system on the Date To entered.

    If you change the Date To the cashbook balance and the all the unreconciled entries are displayed up to and including the date entered.

  5. Enter the amount on the bank statement into the Statement Balance field. The Reconciliation Difference field is updated to show the difference between the Statement Balance and the Reconciled Balance fields.

    At this stage select Export bank reconciliation from the Task Bar. This shows the unreconciled entries before you start and may be helpful later should you have problems reconciling.

  6. Work through the statement and tick (select) each receipt and payment that appears on the statement by pressing [Space Bar]. A C is displayed against each ticked item and the Payments Ticked and Receipts Ticked fields are updated.

    The C indicates that the entry has been confirmed against the statement but is not yet fully reconciled.
    [Space Bar] is used to tick and untick the entries. To quickly tick or untick multiple entries, highlight them by using [Ctrl]+Click first and then press [Space Bar].

  7. Click OK to finalise the reconciliation. A message appears 'Success - Items Reconciled'.The entries previously marked C for Confirmed are now marked R for Reconciled.
    This message appears when the Reconciliation Difference field is zero which indicates that the bank account is fully reconciled to the statement. 

  8. If the Reconciliation field is not zero a message appears:
    'The current balance including ticked items does not agree with your bank statement. Do you want to save your current ticked items so you can come back to them later?'

    Answer 'Yes' to this message to close out of the Bank Reconciliation without fully reconciling by clicking Close. When you next attempt to reconcile this bank account the entries ticked previously will still be ticked.

    Answer 'No' to this message to remain in the Bank Reconcilation screen to fully reconcile the entries.