RDA Systems Inc

Main Page → Bank Reconciliation → Documentation → Reconciliation → Updating the Bank Balance

What This Process Does

• The Update Bank Balance process updates the bank balance based on transactions cleared in the Reconcile Bank Statement process.
• The Update Bank Balance process moves the values of the records selected from the unprocessed balance to the cleared/updated balance.
• On the report, the reconciled bank balance should agree with the user's bank statement.
• Once a transaction has been updated, it will no longer be found on the Bank Reconciliation Report.

Best Practices

• Bank Reconciliation Report - printing this report AFTER reconciling your bank statements but BEFORE updating your bank balances allows you to verify that the correct transactions have been flagged as UNCLEARED (still outstanding) or CLEARED.

Updating the Bank Balance

1. Finance → Bank Reconciliation → Taskbar → Update Bank Balances
2. Populate applicable fields. Click the Run/Print Report button when finished.
3. Upon selecting, errors and/or warnings will display if required fields are not populated.