Acumatica Bank Reconciliation: Upload Outstanding Checks and Un-Cleared Deposits from a Legacy System

Posted by Dilip Bordia, Principle Consultant on September 13, 2016


It’s imperative to have the right numbers in your ERP system.  One of the most stressful situations can be making sure everything is accurate and accounted for when switching systems.  Sometimes businesses run parallel for a short period of time to ensure everything matches up.  No matter what your switch over process involves, you want to make sure you load prior information into the new system right before your go-live date.

Here’s how to import legacy data into your new Acumatica system:

Business scenario

  • Your business is moving to Acumatica ERP with a go-live date of 1/1/2016.
  • The last bank reconciliation was done as of December 31, 2015 with a reconciled balance of $600,000.
  • The detail for outstanding checks and un-cleared deposits as of 12/31/2015 is available.
  • The cash account balance in G/L on 12/31/2015 is $550,000.  

In order to make outstanding checks and un-cleared deposits available for reconciliation in the new Acumatica system, process a journal entry using a 12/31/2015 entry date. The GL entry would include:

  • Reversal of 12/31/2015 Trial balance number
  • Debit to 12/31/2015 reconciled balance
  • Detail line entry for each outstanding check and un-cleared deposit. (Please see screen shot below)

Step-by-step Instructions:

  1. Open Journal Transactions form (GL.30.10.00). 
    Menu >General Ledger>Data Entry>Journal Transactions
  2. Click the Insert button on the toolbar and create a new Journal Transaction.
  3. Save your changes.
  4. Enter or upload the detail for the GL journal transaction
  5. Save your changes and Release the batch.
  6. Run the Validate Account Balances process
    In order to make the GL transaction available for reconciliation, you must run the “Validate Account Balances” process.

  7. Open Validate Account Balances form (GL.50.30.00)
      Menu > Cash Management > Processing > Validate Account Balances
  8. Click the Validate All button on the toolbar

Once the validation process is done, your outstanding checks and un-cleared deposits are now available for reconciliation in your new Acumatica ERP system. 

 

Do you have further questions or need some assistance?  Contact us at Support@Crestwood.com and our team of experts can assist you.


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