Sage 100 Bank Reconciliation

Bank Reconciliation is at the forefront of identifying multiple financial processes to match bank statements with cash accounts. Sage 100 Contractor Bank Reconciliation greatly helps in the detection of invalid financial reports, inaccurate compliance forms, or tax forms. Sage 100 Contractor performs a cross-verification among statements to ensure financial accuracy so for this, a reconciliation statement is a must. It helps in confirming the correct figures reported to the IRS and also detecting fraudulent activity in the account.

How Does Sage 100 Reconcile Bank Accounts?

Trouble reconciling accounts? Follow the listed steps to reconcile a bank account with a bank statement:

• For the first step, browse and open the 1-5 Bank Reconciliation Window.
• When the cursor appears in the grid area, you see that the button F1 is available.
• After this, over the textbox naming Statement Cut Off Date will appear, press Click.
• Pressing the textbox, a calculator opens up on your screen.
• The launch will open a window for 1-3 Journal transactions on a bank statement.
• For the next step, hit on the F3 key.
• Now, start by adding additional income charges for 1-3 journal transactions in bank statements before the reconciliation process.

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After Following the Above Process, Complete the Reconciliation Process with the Below Steps

• Start by clicking and Opening the 1-5 Bank Reconciliation buttons.
• Now, browse the Account File and select and add the Bank Account Number under the tab.
• A box will appear named Statement Cutoff Date, Select the same.
• After the subsequent step, proceed by writing the ending date of the Statement.
• A grid will open, press, and Select the Display Option.
• For the next step, you have to do the Delete process.
• Choose the item and then complete it by hitting the Clear Option. Follow this step for every item.
• After clearing out each item, the next step is to compare the Statement ending balance field amount with the Statement ending balance.
• If the amount does not match, then proceed to discover.
• For this, browse to the File Option.
• From the File grid, click on the Save button.
• With the above step, you will now see a window for the Save Bank Reconciliation.
• Over the Save Bank Reconciliation, follow anyone:
  • If you are still not done reconciling the account, tap on the Trial Button.
  • If you are done reconciling the account, tap on the Final Button.

Anyone can save an incomplete reconciliation in Sage 100 Contractor. Here’s how to do it:

To Save a Trial Reconciliation

• Start with opening 1-5 Bank Reconciliation.
• Over the Account box, now enter the Bank account number.
• Go to the File Option and hit Save.
• Click the Trial Button on the Save Reconciliation Window.

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Conclusion

This blog helps you keep your Sage 100 bank reconciliation process on track with the right and optimum info. If you are still facing any issues or have doubts, you can get in touch with the Sage 100 customer helpdesk. The team members have years of experience and are available at the earliest. You can get in touch with our team members anytime to find out how we are doing.

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