Overview

When you compare deposits to your bank statement, the amounts may not match due to error when the deposit was created or due to bank error.  Use the steps below to adjust records if a deposit is short, over, or will later be fixed by the bank.

Deposit on the bank statement is 10 cents less than in SchoolCash

  1. From the Main Menu, go to General > Reconciliation. Click Continue.

  2. Select  Add Record.
  3. Enter the adjustment as a negative credit to the category (-0.10) and use the deposit number for the transaction number.  
  4. Click the Check-mark to save.

Deposit on the bank statement is $20 more than in SchoolCash

  1. Select Add Record. 
  2. Enter the adjustment as a positive credit so the correct category shows the $20 gain.
  3. Click the Check Mark to save.

Bank fixes the error the next month

If the bank makes the correction the following month, select Add Record to enter the adjustment in SchoolCash to match the adjustment on the bank statement (for example, -20.00).

Outcome

Your deposits match the bank statement, with any differences recorded in the correct category and month.

Troubleshooting

  • Amounts still do not match - Check that you used the correct sign (positive or negative) on the adjustment.
  • Category is wrong - Use Journal Entry to select the correct category.
  • Category is wrong, and journal entry module is not available - Modify the transaction in the reconciliation module or on the ledger.  Recommended best practice is to modify the transaction in the reconciliation module. 

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