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Banner Bank Reconciliation

Banner Bank Reconciliation. Presented by Ben Jones Manager Grants and Contracts Middle Tennessee State University Assisted by Li Liu Accountant I Middle Tennessee State University. Overview. The Evolution of the Bank Reconciliation The Transition from FRS to Banner

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Banner Bank Reconciliation

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  1. Banner Bank Reconciliation Presented by Ben Jones Manager Grants and Contracts Middle Tennessee State University Assisted by Li Liu Accountant I Middle Tennessee State University

  2. Overview • The Evolution of the Bank Reconciliation • The Transition from FRS to Banner • Queries, Tools, and Reconciliation • Issues, Problems, and Concerns?

  3. The Evolution • Bank Enhancements and Technological Advancements • Process Changes • Financial System Transition

  4. The Old Way – FRS Reporting • FBD011 – Daily Bank Activity Report • FBD017 – Daily Cash Receipts Listing • FBD018 – Daily Cash Disbursements Listing • FBM019 – Cash Report by Bank • VBM001 – Check Reconciliation Report • VBM094 – Check Listing (Outstanding)

  5. Transitioning to Banner

  6. Daily Cash Ending Balance Query Use Activity Date Run Query in ISQL Plus Print Output or Copy Balance into Excel Verify Against Daily Cash Transactions Query Daily Cash Transactions Query Use Activity Date Run Query in ISQL Plus Copy Output into Excel Verify Against Daily Cash Ending Balance Query Results SQL Queries for Balancing

  7. Daily Reconciliation Demonstration • Run Daily Cash Ending Balance Query • Run Daily Cash Transactions Query • Copy output into Excel. • Add column to distinguish transactions. • Subtotal transactions. • Copy subtotaled transactions into balancing spreadsheet. • Verify transactions against ending balance.

  8. Cross Referencing in Excel • Copy data from online banking web site into Excel. • Scan daily cashier reports and disbursement documentation. • Input data from cashier daily reports and copy disbursement details into reconciliation spreadsheet. • Cross reference receipts and disbursements with bank amounts in Excel.

  9. Outstanding Check Reconciliation • Receive canceled check files from the bank daily. • IT staff should use AppWorx or another scheduling software to run daily processing of FARBREC in Final Mode. • Reconcile with FARBREC daily. • Use FAABREC to manually drop checks not received from bank and encoding errors

  10. Banking Tools • Online Banking • Check and deposit images • Balance reporting (same day and previous days) • Stop payments • Online Credit Card Reporting • Research credit card detail. • Discover discrepancies and problems. • ACH Verification • Verify totals through automated telephone call. • Bank calls (Mismatched totals, Missing Files)

  11. Paper Documents: Find the files. Copy the documents. Organize the papers. Place in a box. Deliver to auditors. Electronic Documents: Find the files. Build a folder on a shared network. Save the files. Give access to auditors. E-mail the location of electronic files to auditors. Audit Enhancements

  12. Issues, Problems, and Concerns? • Scanning Issues • Unknown Deposits, Wire Transfers, etc. • Banner Student Transactions • Fraudulent Checks, ACH Withdrawals • Your Thoughts and Issues?

  13. References and Contacts • Ben Jones • bwjones@mtsu.edu • Li Liu • lliu@mtsu.edu • Mingwei Xue (Graduate Assistant) • mx2b@mtsu.edu

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