Reconciling Under/Over Receipts

Reconciling Under/Over Receipts

Received amounts may differ from the actual amounts demanded.  Ideally amounts received should be receipted in the Banking Deposits window, using the physical bank statement amounts, before entering the Bank Statement.  This ensures the correct amounts are available in the right-hand window of Bank Statements.  
The Bank Statement window is your last check to verify that the amounts being received are the same as demanded. 
Manually entering amounts seen on the physical bank statement into the Amount field in the left-side of the form will allow amounts present to be matched, if correct, from the right side of the screen. 
Amounts already sitting on the right-hand-side of the screen are amounts created in Banking Payments or Banking Deposits, from existing journals created by sales etc in the Livestock/Clearing sale modules in Stockyard.
Clicking on the right side of the Bank Statement form is not advised.  A slight difference of e.g. 1c may be missed. 


Part A - Remove the transaction from Bank Runs

If necessary, complete this step by following the advice in how to Remove a Transaction in Bank Runs

Part B - Update the transaction in Banking Deposits

Step 1. Open the account in Banking Deposits.

Go to Banking Deposits and select the client to open their account.

Step 2.  Update the amount received.

Enter the actual amount that was paid into the Amount field e.g. $132 222.22.  An underpayment of 1c has been made.


Step 3. Specify the correct amount.

Right-click on the appropriate transaction and select Specify to bring up the Specify amount window.
Ensure this is the correct amount physically received is showing in the Specify window.



Step 4. Calculate the difference

The program will calculate the difference when you tick the Rebate box, e.g. 1c
Verify that the Unallocated amount is showing as zero.



Step 5.  Balance the account.

Verify the details are correct and then click on Balance at the top of the screen.

Step 6.  Process the transaction

Click on Process to post the amount to the Rebate account.


If you have been overpaid, the Rebate amount should be negative.  If underpaid, positive. 
The amount that is entered in the Specify Window is the whole amount appearing on the bank statement.  The program will work out the difference.

Part C - Return to the bank Statement

Return to the Bank Statement window and match the amended journal transaction with the amount appearing on the physical statement as usual.

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