Client Reconciliation

Client reconciliation provides a means for writing off balances, clearing open activity, and transferring balances at the client level.

To Perform a Reconciliation 

1. On the Primary menu, click ORGANIZATION.
2. Select the territories tab and select the Details icon next to the territory to reconcile.
3. Select the accounting > transactions > reconciliation tab.
4. Click [Add New Reconciliation]. The Reconciliation dialog box is displayed.

5. In the Entity Type list, select Client.

6. Enter at least three characters of the name for the client and click Search.

Note:  If the client has an alternate address, it can be selected from the Select Address list.

7. Select the client in the search results and click OK. The reconciliation tab is displayed.

The following information is available in the client reconciliation header:

• Reconciliation ID: Sequential number assigned by Nexsure.
• Entity Type: Defaults to Client, the entity selected when starting the reconciliation.
• Name: The client name selected during the entity search.
• Posted: Selected when the reconciliation is posted. The date of the posting will also be displayed.
• Posted By: The name of the staff member that clicked Post.
• Date Booked: The date entered in the Date Booked box when editing the reconciliation header.
• Date Created: The date the [Add New] link was clicked on the reconciliation tab.
• Created By: The name of the staff member that clicked the [Add New] link.
• Credits Total: The total of the credit items selected in Quick Navigation > Transaction Activity during the reconciliation process.
• Debits Total: The total of the debit items selected in Quick Navigation > Transaction Activity during the reconciliation process.
• General Ledger Total: The net amount of the line items entered through the Quick Navigation > General Ledger link. The offset will be completed against accounts receivable in the Client Journal Associations screen.
• Journal Total: The total amount of entries in the Journal Transactions screen.
• Reconciliation Total: Credit Total, Debit Total, General Ledger Total and Journal Total. Must equal $0.00 to enable posting of client reconciliation.
• Out of Balance: Discrepancy total where the Reconciliation Total does not equal $0.00.
• Description: The description entered in the Description box when editing the reconciliation header.
• AR Balance: Total client accounts receivable balance including future items.

The following options are available on the Navigation Toolbar:

• Reconciliation Summary: Click to return to the reconciliation tab showing the transaction list.
• Print: Creates a PDF for the client reconciliation.
• Post: Can be clicked at any time to post the reconciliation. If the balance from the reconciliation is not $0.00 a warning message will be displayed.
• Abort: Cancels any activity and deletes the reconciliation.
• Save: Can be clicked at any point to save entries.
• Add Row: Enabled in the Quick Navigation > General Ledger screens.
• Delivery: Opens the delivery tab to email or fax the reconciliation summary information.

8. In the Description box, enter a description for the reconciliation.
9. In the Internal Note box, enter an internal note about the reconciliation if necessary.
10. On the Navigation Toolbar, click Save.
11. In the Quick Navigation panel, click the General Ledger link. The General Ledger screen is displayed.
12. On the Navigation Toolbar, click Add Row.

13. In the Account Number column, click the Ellipsis button to select a general ledger number. Add as many general ledger rows as necessary, the Total to write off amount is then added to the Journal Total in the reconciliation header.
14. In the Navigation Toolbar, click Save.
15. In the Quick Navigation panel, click Transaction Activity. The Client Transaction Association screen is displayed.
16. On the Client Transaction Association screen, click [Add New]. The Client Transaction View screen is displayed.

17. In the Description box, enter a description for the specific application if necessary.
18. Select a single Credit transaction to clear one or more Debit transactions or a single Debit to clear one or more Credit transactions. Selection of items to apply is a one to many scenario. The end result must equal $0.00.
19. On the Client Transaction View screen, click [Transactions Associations]. The Client Transaction Association screen is displayed with the association line item.

20. In the Quick Navigation panel, click Journal Transactions. The Journal Associations screen is displayed.
21. On the Journal Associations screen, click [Add New]. The items available to write-off are displayed.

22. Select one or more general ledger items to apply against a single transaction or a single general ledger item to apply against one or more transactions. Selection of items to apply is a one to many scenario. The end result must equal $0.00.
23. Click Save on the Navigation Toolbar. The reconciliation header will be updated to include the amounts selected.
24. On the Quick Navigation panel, click Association Summary. The Association Summary list is displayed.

Note: Individual line items cannot be removed from the Association Summary list. To remove line items, navigate to the Transaction Activity or Journal Transactions screen.

25. In the Quick Navigation panel, click Reconciliation Posting. The Reconciliation Details screen is displayed.

26. Review the Reconciliation Details and post the reconciliation.

Related Topics

Reconciliation

Agency Bill Reconciliation

Direct Bill Carrier Statement Entry