The Bank Reconciliation tool within Infinity is designed so that you can compare Infinity’s balances to a statement from the bank for your checking account. This ensures that all transactions that are coming from Infinity are contained correctly within your checking account. It can help identify offending transactions that are either posted in the wrong month, posted to the wrong account, or should not exist entirely.
This page explains how to:
Access Bank Reconciliation Tool
Click (04) Reconcile Bank Accounts from the Accounting menu tree.
This will open Check Register- – window:
Reconcile your checking account
will be your Current Balance within the Infinity Accounting module for your selected checking account.
are all items listed in the bottom window pane that hasn’t been cleared. Note that all items to hit your checking account will be listed here, regardless of date.
is a simple addition/subtraction of the two fields previously mentioned.
will either limit or show checks, depending upon the date you use.
When you have the bank reconciliation ready to be completed, click the Finalize button at the bottom. This will post to accounting and open reports for you to print your “Check Reconciliation Report”.
To Finalize and Save a bank reconciliation, the “Amount your statement is out of balance” needs to be $0.00.
You may use the Open Doc (-) button in case you need to identify where the specific transaction is coming from within Infinity.
The Flag Checks button will allow you to flag a range of checks specified by check number. This allows you to quickly clear many checks rather than go through and click the “Cleared” box manually.