Check Reconciliation Features:
The primary objective of the Check Reconciliation (CR) System from Legler Systems
is to process check information in an online environment so that specific
procedures are performed in seconds rather than the hours required by
traditional batch methods of computer processing. This CR System performs the
basic check reconciliation objectives by providing a complete and accurate
record of all company check transactions affecting each vendor and employee.
Specific Check Reconciliation features and objectives are highlighted
below:
- Maintain a separate Check Record by check number containing dollar
amounts paid to vendors, employees and others. Date issued and
date cleared or paid by the bank are also in the Check Record.
- Identify the outstanding checks as of a specific date.
- Print accounting reports, such as Check Register, Check Records
List and Outstanding Check Report, so that adequate audit control
is maintained.
- Automatically calculate the average number of elapsed days between
the check issue date and the date the check clears the bank.
- Interface with the Accounts Payable System and Payroll System to
automatically accept Check Records from these systems when checks
are printed (issued). This check reconciliation feature minimizes
clerical data entry operations.
- Handle the entry of manually issued checks at the time manual
vendor and employee checks are entered online in those systems.
- Provide inquiry capability (displaying information on a terminal)
to identify which checks have been issued to a specific payee
(vendor in the AP System or employee in the PR System).
- Automatically identify missing check numbers (gaps in the check
number range) in the Check Register when check number option is
specified.
- Accept bank input file of canceled checks to update Check Records
as cleared rather than manually.
- Handle multiple bank accounts, however the check numbers must be
unique within each Bank-ID.
- Provide auxiliary input capability for importing issued checks and
cleared checks created by other computerized systems.
- Provide the capability to create custom CR reports where the user
defines the data fields to be selected and printed (procedure DB12).
- Provide import and export capability (CR09) using any PC ASCII file
(comma separated fields) containing issued or paid checks.
- Automatically display a detail record (Check Record) when function
key F7 is pressed for inquiry procedure CR05. This
check reconciliation objective enables the operator to quickly
drill down to more information.
- Define an Active Flag to prohibit the current entry of check
information for a specific Bank-ID and Location Code, yet reference
these codes for historical reporting purposes.
- Handle any fiscal year for accounting purposes, even one different
from the calendar year, through the use of a separate accounting
period number (YRMO).
- Verify the check amount is greater than zero (positive).
- Verify the state code and ZIP code (first 3 digits) associated with
the payee address. The Canadian province code is validated when
the ZIP code is not numeric.
- Automatic payee code assignment whenever the payee name initials
are entered as the payee code. Payee name initials are manually or
automatically set in the Check Record.
- Monitor the dates when a check is issued and when a check is
cleared (paid by) the bank.
- Update multiple checks at one time as cleared by specifying a check
number range in procedure CR02 to speed manual data entry. This
check reconciliation objective improves clerical productivity.
- Provide source document control over input transactions to the
computer by establishing batch numbers.
- Provide system options in the Company Control Record to handle
6-digit or 8-digit dates for Y2K compliance.
As computer checks are issued to vendors, employees and others during
the accounting period, they are also entered into the Check Reconciliation
System automatically by the Accounts Payable System and the Payroll System
when System-Option-20 (DB03) is set to "1". Otherwise, issued checks are
entered online using procedure CR01 or by batch input using procedure CR08.
Check Record:
Information on each check issued to a vendor or employee, including payee,
date and dollar amount is stored in a Check Record. Menu procedure CR01 is
used to add, change (modify), query and delete Check Records. Procedure CR02
is used to clear a group of checks by updating each Check Record as paid by the
bank.
CR System procedures that can be run by the user are identified on the
Check Reconciliation Menu document.
More Information on Check Reconciliation Objectives:
To receive additional information on this online Check Reconciliation software,
please e-mail Bill Legler in the SF Bay Area, California
or go to the Check Reconciliation System page.
Version 7.10 - Copyright 2010 by Legler Systems Company. All rights reserved.