CR Check Center Entry - Quick Entry overview
Use this page to enter all bank transactions for all bank accounts.
Seven transaction types can be entered. If you use the Vendor module, bank records are automatically updated in Check Reconciliation. If you also use the Sales, General Ledger, or Customer module, you must select the appropriate option in SA Administrator Options-Financial-Check Rec. These options activate automatic update of Check Reconciliation records:
- Interface to Check Reconciliation from Order Entry
- Interface to Check Reconciliation from General Ledger
- Interface to Check Reconciliation from Cash Records
Implementing Check Reconciliation
When you start using Check Reconciliation, use CR Check Center-Quick Entry to enter the outstanding transactions as of the last bank statement. These transactions include outstanding checks, deposits, charges, interest, and adjustments. You must do this to balance the bank account properly when the new bank statement arrives. If you do not post outstanding transactions, nothing exists to offset against the transactions that clear on the new bank statement.
The Current Book Balance field is updated as you enter transactions. This field is displayed in CR Check Center Entry. The Current Book Balance is also displayed in CR Bank Setup as the Current Balance field.
Manual transactions
You may prefer to manually enter transactions in CR Check Center Entry-Quick Entry in these situations:
- Your system does not automatically interface to the other modules listed above.
- You did not post to General Ledger.
- You improperly posted to General Ledger.
- To post cash receipt transactions that involve an adjustment to bank balances.
If you make a mistake during entry, make offsetting entries when you discover the mistake. Use an adjustment transaction type to correct the mistake, or reverse the transaction. If you make a manual entry, Check Reconciliation files are updated immediately.
A journal is not opened in CR Check Center Entry unless you enter a void transaction type. For void transactions, you can reverse General Ledger and Vendor module transactions.