Accounting Finance:Accounting Finance: CIBC USD and Payroll Reconciliation

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Overview

All transactions that clear the bank on a monthly basis for the USD (02-52913) and Payroll (80-18316) accounts need to be reconciled every month. Any variances need to be recorded and presented on the monthly bank reconciliation.

Required Documents

  • Download the bank statements from the CIBC CMO website for the USD (02-52913) and Payroll (80-18316) accounts for the previous month
  • In the CMO Website go to Information Reporting and under Reports, Filter to Prior Day.
  • Select Transaction and Balance Statement, and filter to the previous month’s dates.
  • Select the appropriate account
  • Open the Bank Reconciliation worksheets
  • In ASW open up the cash book
  • For USD the bank account will be 002
  • For Payroll the bank account will be 005

Reconciliation

  • Open up ASW Work With Cashbook Reconciliation
  • Balance is on the upper right corner
  • Reconcile the amounts that have cleared to find the balance
  • Date: Month end
  • Reconciliation date: Date the entry cleared the bank
  • Include any items left over that have not cleared under the balance as per bank statement section
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