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Bank Reconciliation’s recurring entry saves time (T)

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 Does your bank charge the same fees each month? Or, do you have certain recurring payments that come out of your bank account automatically each month?

To save yourself time with data entry as well as a reminder to enter these monthly recurring entries in Bank Reconciliation, use the ‘Recurring Adjustment’ feature in Bank Reconciliation for them.

In Bank Reconciliation-> Set Up and Maintenance-> Recurring Adjustments, select the bank account for the adjustment, the payment number and enter the dollar amount to be deducted. Next, enter the debit or debits that these amounts will be expensed to.

When you enter Bank Reconciliation-> Transactions-> Transactions,  update and select the Adjustments tab,  the Payment Numbers you assigned to these adjustments will be available in the drop down inquiry box. Simply select the recurring adjustment by payment number and your entire entry is brought in. You can then adjust or change any part of the entry before posting the transactions.

About Lillian Aaron

Lillian Aaron is inspired by small and mid-sized businesses. She understands the challenges they face and the tenacity required to build strong, growing organizations. Since 1983, Lillian has worked with businesses as a business process consultant helping them implement and support leading-edge products that drive efficiency and profitability for diverse clients. Her friendly, one-on-one consulting style helps business owners and managers feel at ease when adopting and learning new technology systems.

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