INFORMATION:  

 

Bank Recon – Step 2 – Statement Ending Balance

 

PROCESS:

 

From Bank Recon > Bank Recon > Step 2 

 

 

 

Step # 2:  Enter the Statement Ending Balance as it appears on the checking account bank statement, then click Next Step to continue.   

 

Some banks also refer to this balance as:

Closing Balance

Current Balance

New Balance      

 

 

Changing Bank Accounts and how it impacts Bank Reconciliation

 

From time to time it becomes necessary for your school to change bank accounts, either to a new bank or a new account within the same bank.  

 

  • Until all outstanding checks have cleared the old bank account, it will be necessary to reconcile two bank accounts (old and new) each month.  
  • The ending balances from the two bank statements should be combined and entered as the Statement Ending Balance on Step # 2 of the Bank Reconciliation screen.  
  • Once all checks have cleared the old bank account and the old account is closed, you will only need to reconcile the new bank statement each month.