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.
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|
|- with receipts||Yes||No|
|- without receipts||Yes||No|
|- to clear unused receipts||No||No|
|- Credit Card||No||Yes|
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