- In order to utilize the bank reconciliation feature for credit cards or other accounts, you must first define a " bank account " for the credit card with a type of "Other."
- Using the Add Accounts icon, be sure to enter the General Ledger account created above in your bank account setup.
Note: In order to reconcile, all transactions within an account must have the same Organization.
After the Expense Report Cost Post is completed, and the credit card vendor bill is entered, utilize Unanet's bank account reconciliation functionality to reconcile the credit card payable account.
Note: When Posting Options are set to Using Posted Date, expense vouchers must be in EXTRACTED status in order to do the Expense Report Cost Post.
When the credit card statement is received, create a bank reconciliation to ensure that all of the charges in the statement have been posted to the General Ledger.
First, add Add a bank reconciliation by going to navigating to Financials > General Ledger > Bank Reconciliation and clicking the +Bank Reconciliation link.
Add the Credit Card " Bank Account", Statement Date, and Ending Balance.
Note: When reconciling liability accounts, you must enter the balance as a negative. This is the amount you oweowed. The reconciliation will be to the amounts you that have been charged to that account already.
Any amounts charged to the credit card account (Amex Card) will be available to reconcile against your statement.