Reconcile OFX Statements

Reconcile OFX Statements

Overview

Before you start

To reconcile OFX statements:

1. Open Common Services > Bank Services > Bank Transactions > Reconcile OFX Statements.

   Click here for help on the fields in the Reconcile OFX Statements form.

2. Enter the code for the bank you are reconciling, or use the Finder to select it.
3. Press the Tab key.

   The Reconcile OFX Statements form displays transactions from the imported OFX file that were processed by the bank before the reconciliation cutoff date.

4. Fill in the following fields on the Reconcile OFX Statements form:
   • Reconciliation Date
   • Reconciliation Cutoff Date
   • Automatically Clear Reconciled Transactions
   • Match Deposits By
5. Click Reconcile to match statement transactions to Sage 300 ERP transactions, then close the message box that appears when matching is finished.

   The Cleared status for matched transactions changes to Yes. However, if you selected the Automatically Clear Reconciled Transactions option, only unmatched transactions appear on the grid.

   You must clear unmatched transactions manually.

6. To clear unmatched transactions you identify as bank entries (for example, bank service charges that you have not yet entered in your Sage 300 ERP system):
   1. Select the transaction on the grid, and then click the Bank Entry button.
   2. In the Bank Entry dialog box that appears:
      1. In the Distribution Code field, type the distribution code (for example, Bank Error or Service Charge), or use the Finder to select the code.
      2. To use a different G/L account than the default that appears, use the Finder for the G/L Account field to select the account.
      3. If the bank entry is taxable, select the Taxable option, click the Zoom button, then enter tax information on the Taxes form that appears.
         1. Select the tax group to which your company is subject.
         2. Change the entries in the grid if required, then click Close to return to the Bank Entry dialog box.
      4. Enter a description, reference, and comment, as needed.
      5. Click Process, and then click Yes when prompted to add this transaction to bank entries.
      6. Click Close to return to Reconcile OFX Statements.
7. To clear other unmatched transactions:
   1. Select the transaction on the grid, and then click the Clear button.
   2. In the Detail dialog box that appears:
      1. Select the matching detail on the grid, click Clear, and then click Yes to confirm the match.

         Be sure you select the correct line, as there may be more than one detail with the same amount or date.

      2. Click Close to return to Reconcile OFX Statements.
8. Click Refresh to move all cleared items from the grid (optional).

   The only items remaining in the grid will be unmatched items that you did not clear manually. (Their Cleared status is No.)

9. Close the Reconcile OFX Statements form.

   If a message appears asking whether to process the entries now, click Yes.

After using the Reconcile OFX Statements form

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