When issuing a bank reconciliation, WizCount matches transactions recorded to the bank’s credit and debit with the transactions recorded on the bank’s computer. In the current section, the transactions recorded in the bank account are posted in the WizCount database.
All banks provide the data in digital files, so usually, transactions do not have to be typed in manually. This page is designed for those rare cases where you need to record the transactions manually.
Although the procedure is called “Bank Reconciliation,” the reconciliation can also be applied to credit card data or to major customers and vendors’ data.
Account: The Account Key (in the WizCount database) that is being reconciled. That is, the data in the external file will be matched with the data in the Account Card that you enter in this field.
Date From-To / Transaction From-To: These fields allow you to limit the Date or Transaction Number filtering to view previous transactions.
When recording Bank Statement Input Transactions, data is recorded in the following fields:
Date: If the Bank Statement contains more than one Date field, enter the Due Date.
Description/Details: It is recommended not to skip this field. During Bank Reconciliation, WizCount considers, among other information, the data in this field.
Debit/Credit: Record the transaction amount in these fields. Negative amounts may be entered.
In addition, the transactions include the following fields:
Transaction Number: The transaction serial number according to the time of posting.
Reconciliation: After running the bank reconciliation system, the software enters the reconciliation number in this field. You can see which transactions are included in this reconciliation using the right-click menu.
Balance: This column shows the Accumulated Balance, with the transactions sorted by the dates. When entering the transactions, the Accumulated Balance is not displayed, because some of the transactions may be from a previous period. When you are finished entering the transactions, click the Calculate Balance button. WizCount will sort the transactions by date and calculate the Accumulated Balance.
If an error is detected after posting transactions and calculating balances, the incorrect transaction should be deleted and then re-entered correctly. To delete a transaction, select it in the left column and press: Delete Selected Transactions. You can delete multiple transactions at the same time.
Change Page Layout And Sort Transactions
The page layout can be modified in the same way that other Input Sheets are designed on WizCount (e.g. Record Journal Entry page).
To adjust the column width of a certain column, move the cursor over the border of the column heading. The curser turns into a bar with a double arrow. Now click and drag the double-arrow cursor to the left or right to change the column width.
To change the columns order, move the cursor over the column you want to move, then right-click and drag the column to the desired location. Unclick when the column is in the desired location.
To search for data in a particular column, go to the column header row. WizCount will open an additional line where you can enter a search value. The software will display records (rows) where this value applies.
To sort the records (rows) in the table, click on the header row of the sorting column. Click again to reverse the sort order.