Issue/Symptom/Question

How can I clear checks from my old system that were outstanding at Go-Live in the Web Bank Reconciliation?

Applies To

PENTA Web Bank Reconciliation

Resolution/Fix/Answer

Penta is working on adding the ability to clear checks issued from the system prior to PENTA.

In the interim, the Cash Balance (from the Trial Balance load) brought over from the old system at Go-Live contains the cleared and outstanding checks issued from that system, therefore, PENTA needs to know the Outstanding Checks to reconcile the Bank Balance with the PENTA Balance by calculating the Bank Adjusted Balance (Bank Balance + Adjustments).

To include the Outstanding Checks the PENTA Bank Reconciliation does not know about, use the Add button on the Adjustments section.

Enter the Date of the Check and Description

Select Outstanding Check from the Type drop-down

Enter the Check # for the Reference

To Decrease the Bank Adjusted Balance, enter a Withdrawal Amount. (To increase the Bank Adjusted Balance, enter a Deposit Amount.)

   - For this situation, the Bank doesn't know about the Withdrawal Amount

Optionally enter any comments as to the reason for the adjustment.

Repeat as needed until the Bank Adjusted Balance matches the PENTA Balance

Outstanding Checks at Go-Live that cleared during the period do not need any action in the Bank Reconciliation window.  

It is recommended that an Outstanding Checks at Go-Live List be maintained and checks marked as reconciled, if cleared in the period,  until all have cleared.  If External Checks were loaded, those checks can be tracked in PENTA using the Cleared Check window.

Again, PENTA's Bank Reconciliation has included all of the checks from the prior system in the PENTA Balance amount brought over to PENTA during the Go-Live.  The Bank Reconciliation PENTA Transaction selection process is missing information to display the External Checks to mark them as cleared.  Marking Checks as Reconciled/Cleared doesn't change amounts along the top of the Bank Reconciliation screen.  Checking the box is used to identify the outstanding and in-transit transactions to find the Net Adjustments amount.