KB 866167 - Description of the transaction flow in Bank Reconciliation for Microsoft Dynamics GP

TechKnowledge Content

SUMMARY

This article describes the effect on the General Ledger balance and the Bank Reconciliation Checkbook balance when transactions are posted in Bank Reconciliation in Great Plains.

MORE INFORMATION


The following table summarizes how Bank Reconciliation transactions affect the General Ledger and the Checkbook balance when they are posted:

 

Transaction Type

Update Checkbook Balance

Update General Ledger

Check

Yes

Yes

Withdrawal

Yes

Yes

Deposits

- with receipts

Yes

No

- without receipts

Yes

No

- to clear unused receipts

No

No

Increase Adjustment

Yes

Yes

Decrease Adjustment

Yes

Yes

Receipts

- Check

No

Yes

- Cash

No

Yes

- Credit Card

No

Yes

Bank Transfer

Yes

Yes

 

 

SUMMARY:

Basically, Cash Receipts only update GL when they are posted.  And when they are gathered up and posted in a Deposit, is when the checkbook balance is affected.   

Deposits (with Receipts/without Receipts) affect the checkbook balance only and do not update GL. 

Clear Unused Receipts (Deposits) simply remove receipts from the Deposit Entry window and do not affect the checkbook balance or GL. 

Checks, Withdrawals, Increase Adjustments, Decrease Adjustments and Bank Transfers affect both the GL cash account and Checkbook balance at the same time. 

 


This article was TechKnowledge Document ID:6982

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