1. Nextgen Bank Reconciliation Resource 2015

2. Bank Reconciliation Menu Financial Management Bank Reconciliation –Import Bank Statements –Reconcile Bank Accounts –Bank Account Transactions –Export Checks

3. Import Bank Statement Allows you to import a reconciliation file from the trustee or the bank. File Definition must be set up to match the file you receive. Allows you to browse to a location on your computer to select the file to import. Fairly seamless

4. Import Bank Statement Select Import Bank Statement Select NEW from the ribbon bar Select Import Statement Under Tasks Browse on your computer to select the file you wish to import You will receive a message when the file imports Click on the Transactions Imported tab to see the transactions. You can also print the batch under Tasks

5. Export Checks Allows you to create files for payroll and vendor checks to send to the trustee Simple process creating export files Can delete a batch and recreate it if needed. Can export the file multiple times Allows you to print a list of the checks being exported. Allows you to pick and choose checks you wish to include in the batch.

6. Export Checks Select Export Checks You can view previously exported batches Fill in criteria based on selections. View Options: Date or Batch ID. Select Find.

7. Export Checks To create a new batch, select New on the ribbon bar.

8. Export Checks Select the date, bank account, file definition and check type Click on the Checks Tab to select or deselect checks Click Print Batch and answer YES to Save Batch Click Create Export File You will receive a message stating The Transactions have been successfully exported. Click OK.

9. Reconcile Bank Accounts Reconcile a cash account or bank account. Multiple statements on one batch Allows for adjustments for items that may carry from one month to another Reconcile checks, deposits, and journal entries Print reports or create a PDF file and export reconciliation reports.

10. Reconcile Bank Accounts Select Reconcile Bank Accounts Select NEW from the ribbon bar

11. Reconcile Bank Accounts Recommendation: Change your Batch ID for bank reconciliations to the month-end date

12. Reconcile Bank Accounts When you select Add Statement, you will be prompted to save the batch.

13. Reconcile Bank Accounts You can select multiple GL accounts when they share a bank account

14. Reconcile Bank Accounts The Description should be something to differentiate this reconciliation from others in the batch. < Enter balance from bank statement or Trustee report < Pre-populates based on account(s) selected Enter or select the statement ending date.

15. Reconcile Bank Accounts To continue the reconciliation process, select the Transactions tab. NOTE: There is no “NEXT” button at this point in the reconciliation.

16. Reconcile Bank Accounts Select Filter Transactions to bring in the transactions to reconcile. < Select transactions to reconcile by checking or un-checking the boxes

17. Reconcile Bank Accounts Selecting the Difference hyper- link produces a summary report of the reconciliation. The goal: Difference should be zero (NOTE: This is true if you are reconciling to a bank or your trustee is on the warrant system. If you trustee is on the checking system, your Difference would be the amount of your outstanding checks.)

18. Reconcile Bank Accounts When finished, select “Save and Close” or “Save and New” on the ribbon bar. Continue adding statements and reconciling until all accounts are reconciled.

19. Reconcile Bank Accounts HINT: Click on the hyper-link, not the box. Select statements to print.

20. Reconcile Bank Accounts Print the report or Create a PDF and save the reports to your computer

21. Reconcile Bank Accounts Create any necessary entries that were not completed during the reconciliation process. (This hyper-link will take you to the Transactions process.) Complete Reconciliation simply closes the reconciliation. Almost finished

22. Trouble Shooting You may have a transaction that is recorded in your General Ledger (per the Account Analysis) but does not show as a Bank Account Transaction in the reconciliation. For example, a deposit that was properly recorded in the GL but did not clear the bank and needs to be “unreconciled”. o Solution: If you know the transaction has been properly accounted for, you can manually add a Bank Account Transaction for reconciliation purposes only. (If you are not sure, contact LGC.)

23. Bank Account Transactions

24. Complete all information for the transaction NOTE: The amount is entered in the lower section Then, select Save and Close on the ribbon bar.

25. Bank Account Transactions When you go back to your Bank Reconciliation and Filter Transactions, the new transaction can now be unreconciled.

26. Bank Account Transactions Select Bank Account Transactions Select the View Fill in the criteria based on what you are looking for Click FIND You can also search for Bank Account Transactions.

27. Bank Account Transactions

28. Bank Reconciliation Common Balancing Issues Are all transactions posted in Nextgen? Make sure there are no checks missing from the listed transactions. If you have added a new fund or sub fund it is possible transactions are hung in the Integration/Request folder between Nextgen and Flexgen. If you do not see all transactions, contact LGC. Voids: Have you voided any checks in Flexgen that are not showing voided in Nextgen? You can run a voided listing from Flexgen then look up the Bank Transactions in Nextgen to verify they are showing voided. If they are not, it is possible the void is hung in the Integration/Request folder. There have been instances where the void flag is not created at all--the void transaction has hit the GL but the bank transaction does not get flagged as void. If there are no transactions hung in the Integration Request/Folder, we can manually put the void date on the bank transaction.

29. Bank Reconciliation Common Balancing Issues Make sure that you have entered and posted all manual transactions necessary, such as Trustee commissions, receipts and adjustments. Verify that the Direct Deposits posted by the Trustee match the Direct Deposits you have run from your Payroll Confirm that you have entered the needed transactions to the correct account control and GL Account. For example, someone may have entered the account 142-481-11440 rather than 142-481-11140.

30. Bank Reconciliation Common Balancing Issues Be sure you have selected all cash accounts or bank accounts to be included on the statement. It is easy to skip one from time to time. If you have skipped one, once you have started and saved the statement you can not add to the accounts selected. You will have to delete the statement and start over.

31. Bank Reconciliation Common Balancing Issues Make sure that you have selected the correct fiscal year for the statement you are entering. It is easy to click on the wrong year when you are in a hurry

32. Bank Reconciliation Common Balancing Issues Check the Adjusted Cash in Bank Balance. You can run a Balance Report for only the cash account for all fund controls included on the statement. This comes in handy for funds with sub funds. You can also save this as a Filter Template. NOTE: If entries have been made to the GL after saving the reconciliation, the Adjusted Cash in Bank Balance does not refresh. It must be changed manually.

33. Be sure your cleared checks match the Trustee’s or Bank’s cleared items Confirm that the Trustee’s beginning balance matches their ending balance for the previous month. Make sure your previous month’s balance still matches the balance you reconciled with. Bank Reconciliation Common Balancing Issues

34. Look for automatic Bank deposits or payments that bypass the normal recording procedures Check for Bank fees that are unusual, such as returned check fees. Double-check the General Ledger bank account for mysterious/unusual entries. Use the Rule of Nines to check for transposition errors in manual entries: If the difference is evenly divided by 9, you may have transposed a number (for example, 72 - 27 = 45, which can be evenly divided by 9)

35. Bank Reconciliation Helpful Hints If the “Difference” on your bank reconciliation is a positive number: Look for: > A check that is marked as cleared in error > A deposit that should be marked as cleared > Unrecorded Journal Entry for revenue (for example, bank interest) If the “Difference” is a negative number: Look for: > A check that should be marked as cleared > A deposit that is marked as cleared in error > Unrecorded Journal Entry for an expense

36. Bank Reconciliation Remember, the User Manual is built into the NextGen software. Go to the Tools tab. Select Contents on the ribbon bar.

37. Bank Reconciliation

38. One final note The Bank Reconciliation process is not required in order to complete your Period End process. However, it is always recommended that you reconcile your bank accounts, whether within NextGen or outside the software, before closing your month or year.

39. This concludes the presentation on Nextgen Bank Reconciliation.