Bank Reconciliation Setup

The Bank Reconciliation enables transactions that have been posted to Tourplan G.L. bank accounts to be reconciled against physical bank statements.

When the Bank Reconciliation is first used, there is an initialisation process to go through. This should not be done without first consulting Tourplan Support. The initialisation process is a one off process and is dealt with on an individual company basis, so is not covered in detail in our User Manuals.

The initialisation effectively allows the tagging of those historic transactions which are not going to appear on any future bank statement.

The Bank Reconciliation set up requires:

Details of physical bank account(s) to be entered into Tourplan NX.
Those physical bank accounts to be linked to Tourplan NX G.L. bank accounts.
The starting bank statement page number and starting page balance to be entered.

These set up steps are entered in the Bank Reconciliation application.

Example shows a Completed Bank Reconciliation - Bank Account Details Tab

Bank Reconciliation Setup

From the Home menu, select Financials > Accounting > Bank Reconciliation.
1. Click the Home Menu to expand it:
2. Click the Financials menu option to expand it:
3. Click Accounting to go to the Accounting menu to expand it:
4. Click Bank Reconciliation to go to the Bank Reconciliation screen:
The Bank Reconciliation screen will open. Click Insert Account.
The Bank Account Details screen will display with the Details tab open. Enter Bank Account Details including Account Name, Account Number and Contact Information.
Select a Currency and enter a Starting Page Number and Page Balance.
Attach a General Ledger account to the Bank Account by highlighting the Account in the Available column and using the blue arrow to move the Account to the Selected column.
Click Save to keep the changes.
Click Exit to discard any changes.

When a new or additional physical bank account is created, information is displayed across two tabs; the Details tab and the Reconciled Pages tab. This screenshot (and following field descriptions) highlights the Details tab. The Reconciled Pages tab is covered in the next section called Bank Reconciliation Initialisation.

The Details Tab is in 4 distinct sections.

Bank Account Details Section

Currency Section

Reconciliation Setup Section

Bank General Ledger Accounts Section

Bank Account Details Section

Account Name (Chr, 60 Required)

The bank account name as printed on the bank statement. This field can be used to select the bank account during the reconciliation or banking processes.

Account Number (Chr, 60 Required)

The number of the physical bank account. This field can be used to select the bank account during the reconciliation or banking processes.

Address and Contact Details

These fields are optional and are for information only.

Currency Section

Currency (Drop-down, Required)

Select the currency for this bank account.

This is the currency of the physical bank statement for the bank account. When a currency has been selected, the available transaction currencies will display below the Bank Account Currency field and a list of available NX General Ledger accounts will display in the Bank General Ledger Accounts Section.

If the currency selected in the Account Currency field is not base currency, then the multi-list select box Transaction Currencies does not display. This is because another level of exchange rates would be required to get back to base currency and this is not possible.

Transaction Currencies (Multi Select List Box)

The transaction currencies that can be posted to this bank account.

The currencies that are checked here do not have to match the currencies which are attached to the G.L. account(s) that this bank account applies to. For example, the G.L. account may only have base currency (which is NZD in this example) attached, but transactions in other currencies may be created which will post to this G.L. account—e.g., a debtors receipt in USD which will be converted to NZD when posted to the GL. If USD is not checked in the Bank Reconciliation Transaction Currency list ( above), then it will not display in the Bank Reconciliation.

Reconciliation Setup Section

Starting Page Number (Chr, 10)

NOTE: Enter the number prior to the number of the first bank statement to be reconciled. This will be used as the number of the initialisation .

The initialisation will hold all of the transactions which either make up or contribute to the opening balance of the first statement to be reconciled.

Starting Balance (Numeric 12,4)

Enter the amount that has been determined (in consultation with Tourplan Support) as being the balance that the Bank Reconciliation is going to commence with.

Bank General Ledger Accounts Section

This section is used to attach Tourplan NX G.L. accounts that have transactions that will appear on Bank Statements for the physical bank account.

To attach a G.L. account to the physical bank account, highlight the account in the Available column and click the button. To remove a G.L. account from the Selected list, highlight the account and click the button.