Check Reconciliation Checklists

The following checklists are provided as examples of how you might use Passport Business Solutions (PBS) Check Reconciliation to perform various daily, weekly, and periodic tasks.

While we attempt to present the tasks in a logical order, you should adjust the checklist as necessary to meet your own needs. You may wish to consult with your accountant for advice on organizing your own checklists to ensure the efficiency and security of your business operations.

Daily Operations Checklist

Use the following guidelines for performing daily Check Reconciliation tasks:

Each Day	Each Day as Needed
Enter checks and deposits using Checkbook entries. (If you are using other Passport modules, you would enter only checks, deposits and ACH payments that were not entered using Accounts Payable, Accounts Receivable, or Payroll.) Read more about Checkbook Entries.
	View your current checking account balances using View checking information. When viewing this information you may optionally include unposted and transferred entries from other Passport modules in order to get an accurate statement of your current checking account balance. Read more about View Checking Account Information.
	Print the Account Activity Report to obtain a cross-selection of checkbook entries in several different ways. For example, you can get a report of all Accounts Payable checks to a specific vendor using this report.

Weekly Operations Checklist

Use the following guidelines for performing weekly Check Reconciliation tasks:

Each Week	Each Week as Needed
Transfer checks and ACH payments from PBS Accounts Payable and Payroll. You may skip this function if you are using the auto-transfer features.
	Transfer deposits from Accounts Receivable. You may skip this function if you are using the auto-transfer features.

Note

Checks and ACH payments recorded in Accounts Payable and Payroll can be transferred as soon as they are posted. Cash receipts in Accounts Receivable must be posted and be processed as deposits before they transfer.

You may choose to transfer checks, ACH payments and deposits to Check Reconciliation as frequently as you like. Once each one is transferred, it will not be transferred again.

Note	You may chose to transfer checks and deposits automatically based on your settings in Check Reconciliation Control information. When you do you will not be able to transfer them again.

Periodic/Monthly Operations Checklist

Use the following guidelines for performing monthly and periodic Check Reconciliation tasks:

Each Period	Each Period as Needed
When you receive your bank statement or view you banking details online, enter any adjustments using Checkbook entries and then reconcile your bank statement using Reconcile Statements. Use the Reconciliation Report, as needed, while reconciling your checking account. If you can view your banking information on-line, you may do this function on any day by comparing to the on-line data. Read more about these functions in Checkbook Entries, Reconciliation Report and Reconcile Statements.
	Enter transfers from one checking account to another.
	Print a complete report of all checking account activity for a period, using the Account activity report.
	Reduce the number of entries in your checking account by using Compress cleared entries to combine the totals of cleared entries into balance forward entries. Read more about Compress Cleared Entries.

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