Preparation and Review of Manual Bank Account Reconciliation | United Nations Development Programme

1	Step Manual Bank Accounts Reconciliation requires matching transactions from the AP, AR and TR sub-modules in Quantum with transactions from bank statements manually loaded via spreadsheet into Quantum. Once the spreadsheet is loaded, the automatic reconciliation button should be triggered to reconcile the statement and system side. Entries that match are marked as Reconciled in Quantum. Quantum will consider the values date in the statement as the reconciliation date.	Responsible Party GSSC B2B	Template/Guideline	Explanatory Notes
2	Step Processing and reconciling items that are in the bank statement and not in Quantum will depend on the nature of the transaction. Interest, Bank Fees and Forex Gain or Loss are recorded through External Transactions in Quantum. Specific Chart of Accounts are provided by the CO to charge Bank Fees. Interest and Forex Gain or Loss will be charged to the generic Chart of Accounts. The External Transactions created for Bank Fees and Interest will be immediately reconciled using the auto reconciled function. Once reconciled GSSC B2B must run the accounting entries for the External Transactions to be posted into the Cash General Ledger.	Responsible Party GSSC B2B	Template/Guideline	Explanatory Notes
3	Step Unidentified payments or deposits should be booked immediately in Quantum as AP invoices for payments or AR deposits for deposits once identified. In the case that payments or deposits remain unidentified as at the finalization date, the line item should remain pending in the statement lines with unreconciled status. Once identified and recorded in the following month after the closure of the previous period, the items should be reconciled and it will be posted into the Cash General Ledger in the open period where it is recorded.	Responsible Party GSSC B2B	Template/Guideline	Explanatory Notes
4	Step If you believe that the unidentified item in the bank statement is an error on part of the bank, the item will remain in the statement line and only reconciled once the reversal is reflected in the statement.	Responsible Party GSSC B2B	Template/Guideline	Explanatory Notes
5	Step After every Global Payroll run, whether it's monthly or semi-monthly, GSSC B2B will compare the payroll recorded in system in the manual reconciliation page with the payroll payment in the statement and reconcile it. Any discrepancies between system and statement are treated differently based on the tolerance. If the difference is within the allowed tolerance, the payment is marked as reconciled with the difference being transferred through journal entries from Cash Management to General Ledger and not through Payroll. In the case that the difference is outside of the allowed tolerance, the Payroll Manager and Country Office must resolve the discrepancy.	Responsible Party GSSC B2B / GSSC Payroll / CO Finance	Template/Guideline	Explanatory Notes