Accounting Finance:CIBC Operating Line Reconciliation

Overview

All transactions flowing through General Ledge 200100 are to be reconciled against the deposits to our CIBC account on a monthly basis. All variances should be accounted for and reported immediately to ensure timely adjustments. To do the reconciliation you will need the following:

1. CIBC Monthly Statement which the Manager, Finance will download in both .PDF and Excel versions in the Bank Reconciliation directory [1]
2. Operating Line worksheet which will also be found in this directory.
3. Mastercard & Visa Transfers printout and exception banking slips which will be included in a physical folder, the Manager, Finance will provide.
4. The Manager, Finance will use the daily Statement of Account Activity Report to clear transactions from the Cashbook.
5. CB-1: General Ledger List which you will download as an excel file and print.
6. CB-2, CB-3, CB-4: Cash Book Transaction List which you will print.

G/L Printing & Download

To print G/L 200100

1. At the ASW main screen click Financials and then Financial Accounting
2. Click Analysis Tasks and then G/L Analysis Tasks
3. Click Print General Ledger, hit enter
4. Enter the accounting year and period of interest, enter 200100 beside Main and change the printer queue to LP05

To download Excel file of G/L 200100

1. Log on Infonet --> uniVIEW --> Finance --> Summarize/Extract G/L Transactions
2. Enter 2018XX for Accounting Period (use the relevant period i.e 201809 for October's reconciliation) from and to
3. Choose Main from Summarize. Choose 200100 - CIBC operation (new)for Main - from and to
4. Click Search. After results are generated, click Detail to excel. This will provide you with the printout for G/L 200100 in excel format, allowing you to search and compare entries and transactions as you see fit. Pivot tables to organize the entries by voucher type are recommended.

Cashbook Printing

To print CashBook Transaction list - 2

1. Access menu item GF457 - Print Cash Book transactions [Note: Due to lengthy printout, print via PDF and save to directory, print hard copy of pages that are needed]
2. Under the Sequence page, enter 1 by Document type
3. Enter 1, 001 for Bank. Enter the date of the month end in both Statement number boxes following the format MM/DD/YY (the format is important). Enter 2, 601 and accounting period of interest in the Accounting period boxes. By Reason Code, enter 2, and the range from AP to AP06 (not shown on diagram).
4. Press Enter, and make sure printer output is PRT01. Hit Enter again to print. Save the pdf and print the pages with each document subtotal (CHQ, EFT, VOD, MAN), total, including the cover page.

To print CashBook Transaction list - 3

1. Access menu item GF457 - Print Cash Book transactions
2. Under the Sequence page, enter 1 by Bank
3. Enter 1, 001 for Bank. Enter 2, 601 and accounting period of interest in the Accounting period boxes. By Open, enter Y. By Reason Code, enter 2, and the range from AP to AP06 (not shown on diagram).
4. Press Enter, and make sure printer output is LP05. Hit Enter again to print.

To print CashBook Transaction list - 4

1. Access menu item GF457 - Print Cash Book transactions
2. Under the Sequence page, enter 1 by Document Type
3. Enter 1, 001 for Bank. Enter the date of the NEXT month end in both Statement number boxes following the format MM/DD/YY (the format is important). Enter 2, 601 and accounting period of interest in the Accounting period boxes. By Reason Code, enter 2, and the range from AP and AP06 (not shown on diagram).
4. Press Enter, and make sure printer output is LP05. Hit Enter again to print

CIBC Operating Line Reconciliation Worksheet

1. Use a copy of the prior month as a template. Remove all entries and adjustments on the copy (do not delete formulas). Change all dates to reflect the month being reconciled.
2. Following the instructions on the right, enter relevant information for CB-1, CB-2, CB-3, CB-4
3. Note down discrepancies between the CIBC Bank Statement and G/L 200100 in the relevant sections. Note that Credit entries on the Statement are Debit entries on the G/L and vice versa. The differences should resolve to 0 (rounding might be needed) between the Bank Statement and the G/L as well as their Debit and Credit balances.
4. Return to the Manager, Finance the folder with the bank reconciliation and all printouts for review and approval.
5. The Manager, Finance will make any required general ledger adjustments, place the printout in the folder and file in the storage box.

Tips:

• In general, VOIDS tend to generate many discrepancies as they would not show up on the Bank statement. We would note down the discrepancies in the Credit or Debit sections but generally would not require actual adjustments to be mode
• Look at adjustments from prior months and note whether they appear on this month's G/L. If they don't appear, the adjustments would flow through to the current month.
• Provide as much information as possible in the adjustments/discrepancies for Manager, Finance. Look at prior reconciliations for guidance.
• The AMEX, MasterCard & Visa worksheet is a good source of possible discrepancies. Make sure to compare the amounts.
• Often times, discrepancies could be due to timing differences. Keep an eye out for entries at month end and at the beginning of the month. Review G/L in the next month and look up the transactions on ASW.
• Vendor Transfer entries and Cheque E-Deposits could show up as a lump sum on one document and as separate items on another. This is especially true for TD Canada Trust, MSP, Equitable Life, BC Hydro, and Great West Life.