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Bank and Credit Card Reconciliation

BoA Credit Card Reconciliation


Bank Recon Procedures:
Receive from Eric, bank statement of BOA-CC per Employee per Sheet.

1. Go to MKB's RDP QB, Banking>Reconciliation>Choose BOA CC 1031

2. Enter Ending Balance based on the statement.

3. Match Bank Statement transactions per CC provided by MKB against QB records. Select line items that corresponds.
 Other ways to match,
 Review unmatched items in the bank statement. Some received amounts are broken, simply select line item to
total the amount being reconciled. Also check if payment received was applied using BOA-CC or vice versa.

4. Transfer all line items of Bank statement sent by MKB to a single Excel Sheet.
 Follow Format in previous months.
 Search in Summit, unbilled transaction to be exported and imported to QB. Match key vendors. Post the bills as
needed. Track payments relating Vendor's payable
 Search in QB (Ctrl+F>Memo). For you to fill up missing Vendor Columns and its Split Account
 Try encoding GL's by searching through the internet. Careful on Split/GL accounts used. Should be OpEx accounts
 Note that we may use: FOOD, fuel, MISC Vendor etc.
 The exception is/are to be sent to Eric for validation before converting it to IIF file.

5. Upon reply, Verify the changed GL codes. Fix Sorting.

6. Remove Green highlights. Then, create IIF file via Excel, change import list - IIF as needed - to be updated on Chart of
Accounts.

7. Import IIF file to QB. In Banking>Reconciliation, Select and apply - when Deposits and Payments tally. Click on Reconcile.

8. Extract Bank Recon Summary and Detail, combine as PDF respectively and to be uploaded in Wrike.

*Rounding Error.
This is rounding error between what we calculated & vender, I corrected. In the future, go to the check, the Report Tab >
Transaction History - this will display the bills being paid, click on Go To" on a bill (note # and $) and reduce (or increase) bill
amount, save & close bill, then on the Check find that bill and un-tag and re-tag it, this will recalculate the payment amount

CreditCard Renaming:
0316 Marlene MO
4801 Eddie EO
9563 Marlo MV
6257
Kyle KO
2540
2438
6360 Brandon BO
5335
6223
3582 Carl CV
4894
8385 Linda

x-continue-list iif-browse-cc recon folder-oka list or chart of account iif updated-next


Bank and Credit Card Reconciliation
FHB Bank Reconciliation
Bank Recon Procedures:
EMO 2 LLC 1. Go to MKB's RDP QB, Banking>Reconciliation>Choose FHB 1020

2. Enter Ending Balance based on the statement.


EMO LLC

3. Match Bank Statement transactions provided by MKB against QB records. Select line items
MKB Enterprises that corresponds.
 If line items do not match, note as Exception.
a. Investigate exceptions by identifying if received amounts are broken, simply
MKB Holdings select line item to total the amount being reconciled. Also check if payment
received was applied using BOA-CC or vice versa.
b. Should there be any exceptions left, inform client to adjust.
MKB Properties
4. After selecting all items that matches. Total Payments and Deposit should tally with the
Oka Auto Paint & Bank Statement.
Repair
5. Once done, click on Reconcile. Extract by choosing Both upon prompt or

Oka Solar 6. Extract Bank Recon Summary and Detail, combine as PDF respectively and to be uploaded
in Wrike.

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