Bank Reconciliations ‐ uggghhhh!! The
bane of your accounting existence. When anyone
mentions Bank Statements, your eyes roll back in
your head and you start retching. Reconciling
Bank Statements is the final step to completing
the accounting period/month closing process. But
all too often the Bank Statements and
reconciliation process get pushed to the side of
your desk in deference of more urgent daily
processing, and they start piling up. Bank
statements are tedious and time-consuming, and
no one likes doing them. Getting behind on bank
statements is NO BUENO either cuz…well…it is
about your dinero!!!
SSI Oil and Gas Accounting Software has a
solution to make reconciling bank statements
faster, easier and most importantly, AUTOMATED!
Think about it. Everything that affects cash
gets booked into the SSI General Ledger cash
account(s) ‐ right? So why not take
advantage of what's already there? SSI's Bank
Reconciliation product takes cash transactions
from the General Ledger ‐ inclusive of
checks written ‐ and integrates the
pieces into our BK10 ‐ Bank
Implementation is easy and SSI has great
documentation in Help on getting started. For
easy access to the SSI On-Line Help, right click
on the BK10 ‐ Bank Reconciliation button
and select Help from the drop-down. You'll see
links to 2 documents ‐ Startup and
Monthly Processing. Choose the Startup document
for initial requirements and step by step
instructions for kicking off Bank
Of course, SSI easily accommodates multiple bank
accounts, separate bank accounts for revenue and
operating, combined bank accounts for revenue
and operating, payroll, etc.
A quick overview for monthly processing:
As is normal, from the bank statement make any
journal entries needed to SSI's general ledger
for interest income, service charges, transfers,
and such. Then, in BK10 ‐ Bank
Reconciliation choose the cash account being
reconciled. There'll be a spot for the Ending
Bank Balance and the Statement Ending Date (from
the bank statement).
There's also a special place for Outstanding
Payroll Checks ‐ if any. FYI ‐
this method keeps the integrity and security of
payroll intact. No one can see the detail of who
gets paid what. Just the grand totals. More
info/instruction on Payroll reconciliation can
be found in the Help ‐ Monthly Processing
Notice the buttons at the bottom of the BK10
dialog screen ‐ Clear Checks and Clear
The BK10 ‐ Bank Reconciliation uses a
simple “click the box” technology for clearing
checks, bank deposit entries, and anything else
that affects cash. It's fast and easy. And
simple - if it clears on the Bank side, it's a
single click in the box. Click, click, click.
THAT'S not hard. Along with some other neat
little assistance tools on the BK10 ‐
Bank Reconciliation dialog screen, there's an
option to auto-clear a range of checks, whoosh!
Which means even less clicking for you!
Oh!!! Like Excel much? How about this? We've got
IMPORTS for clearing outstanding checks. Cuts
the click, click, click even more!
Once all the applicable bank items/outstanding
checks have been flagged as cleared, execute the
yellow book icon to run the program. If you're
balanced ‐ you'll get a WOO-HOO! message,
a list of cleared and outstanding checks, and a
summary of reconciled bank and book. That's a
good thing ‐ you're DONE.
(sad face) Not balanced will throw a BOO-HOO,
the list of the cleared/outstanding checks,
reconciled bank and book balances, and the out
of balance amount.
The most common examples of something that might
cause an out of balance problem on the bank
reconciliation? If the check date and the
accounting period don't match. Don't put 10/15
as the check date and post into period 09. And
don't void a check before the check was written
‐ meaning if a check is written in pp 10
don't void it in a prior period. Voids have to
be booked in the original period written or in
the future of the period written. You can see
how those would be trouble for a bank
The On-line Help has more tips on what to look
for and how to trouble-shoot when you get the
BOO-HOO, so you can change the BOO-HOO into the
What about changing bank account numbers and/or
changing banks? It's inevitable there will be
factors with going from the old bank to new
bank, outstanding checks, all kinds of stuff.
Never fear, your SSI Oil and Gas Accounting
Software has been there, done that, and we HAVE
a PLAN. We've worked through all the
ramifications of changing banks and can help you
through the process of getting changed over to a
new bank/bank account.
Are you doing your bank statements the
old-fashioned way and you're current? Converting
to the BK10 ‐ Bank Reconciliation will be
a breeze! If you're behind and need some help,
we're here for you. Once you get up and going it
will be SO. MUCH. EASIER. to reconcile your bank
each month and stay on a current basis.
Contact us! We can help you get current and stay
current with your Bank Reconciliations.
Bank Reconciliations ‐ yet another way
SSI Oil and Gas Accounting Software can make
YOUR job EZier!!