Using Accounts Payable

Checks82Electronically ReconcilingChecksIn This ChapterThis chapter gives a high-level description of the steps necessary to set up anduse electronic check reconciliation in the Accounts Payable module.The chapter includes the following sections:Table 60: Topics in This ChapterTopicBegins on page...Setting Up Electronic Check Reconciliation 423Performing Electronic Check Reconciliation 425Setting Up Electronic CheckReconciliationElectronic check reconciliation is a complex procedure, and it requires aconsiderable amount of setup. The following steps summarize the proceduresinvolved in setting up electronic check reconciliation:Step 1. Contact your bank. Tell them you want to reconcile your checks electronicallyand ask them to send you any documentation they have on their proceduresand requirements (such as type of tapes allowed, tape layout, etc.)Step 2. Determine if your bank requires a check request tape. Some banks require thatyou send them a tape containing all of the checks you want to reconcile,which they then load and compare with their records. The bank then sendsyou a reconciliation tape for you to load. Other banks do not require a checkrequest tape. If this is the case, they will generally send a reconciliation tapecontaining all of the reconciled checks for a given date range or check range.Using Accounts Payable, June 19, 2009 423© 2009 Datatel, Inc.