How to Bank Match a Deposit Journal Entry
22 steps
2 minutes
1
Navigate to Brokerage Engine.
2
A Transaction that was Uploaded to Accounting created a Deposit Journal Entry in the amount of $48,000.00.
Every Deposit Journal Entry from a Transaction will have the letter "D" at the end of the Journal Number. When matching the downloaded Bank Deposit, it should be linked to the corresponding Journal Entry that ends in "D".
Bank Match Transaction
3
Click the "Banking" menu.
4
Click the "Banking" option.
5
Select the box for the Bank Account linked to the General Ledger Account used for the Deposit Journal Entry. In this case, it is the "1000 - Commissions Account".
6
The list of downloaded Transactions waiting to be reviewed will populate.
7
Locate the entry that matches the amount of the Deposit Journal Entry.
8
Select the dropdown arrow on the "+Add" button.
9
Click on the "Find Match" option.
10
A table will populate with the most likely match. In this case, the system has already selected the Deposit Journal Entry for the Transaction.
11
Click "Save"
12
The Transaction will now how a checkmark.
13
The Matched Transaction can now be found on the "Categorized" tab.
Review Entry
14
Click the "Banking" menu.
15
Click the "Bank Register" option.
16
Select the Account from the dropdown menu.
17
The Transaction will show as "Clear" on the Bank Register.
18
Click on the Action Button to review the details.
19
The page of Deposit Journal Entry will also show the "Clear" status.
20
Click on the "C" icon.
21
The system will display the details of the Bank Match, such as the Bank Account and the date of the record that was matched.
22
Click on "Close".
When processing the Bank Reconciliation, the record will display the "Cleared" status and the date it was bank matched.
How to Bank Match a Deposit Journal Entry
22 steps
2 minutes
1
Navigate to Brokerage Engine.
2
A Transaction that was Uploaded to Accounting created a Deposit Journal Entry in the amount of $48,000.00.
Every Deposit Journal Entry from a Transaction will have the letter "D" at the end of the Journal Number. When matching the downloaded Bank Deposit, it should be linked to the corresponding Journal Entry that ends in "D".
Bank Match Transaction
3
Click the "Banking" menu.
4
Click the "Banking" option.
5
Select the box for the Bank Account linked to the General Ledger Account used for the Deposit Journal Entry. In this case, it is the "1000 - Commissions Account".
6
The list of downloaded Transactions waiting to be reviewed will populate.
7
Locate the entry that matches the amount of the Deposit Journal Entry.
8
Select the dropdown arrow on the "+Add" button.
9
Click on the "Find Match" option.
10
A table will populate with the most likely match. In this case, the system has already selected the Deposit Journal Entry for the Transaction.
11
Click "Save"
12
The Transaction will now how a checkmark.
13
The Matched Transaction can now be found on the "Categorized" tab.
Review Entry
14
Click the "Banking" menu.
15
Click the "Bank Register" option.
16
Select the Account from the dropdown menu.
17
The Transaction will show as "Clear" on the Bank Register.
18
Click on the Action Button to review the details.
19
The page of Deposit Journal Entry will also show the "Clear" status.
20
Click on the "C" icon.
21
The system will display the details of the Bank Match, such as the Bank Account and the date of the record that was matched.
22
Click on "Close".
When processing the Bank Reconciliation, the record will display the "Cleared" status and the date it was bank matched.
