5110 Clear M&T Cashed Checks
Controller's Office
Purpose
Clear A/P checks that have been cashed in PeopleSoft Financials for the bank reconciliation process
Manager
Betsy Niles
Process
| Steps |
|---|
| Print the current Sweep statement from S:\departments\Bus&Fin\M&T\Sweep Statements |
| In PS Financials, access Manual Reconciliation from the Cashier tile (Banking > Reconcile Statements > Manual Reconciliation) |
|
For ACH
|
| For Wire 1) Enter the below information with the Thru Date being the end of the current month; hit Search
 2) Hit Select All
3) Hit Reconcile   |
| For Checks 1) Use the printed Sweep statement as your checklist 2) Enter the below information with the Thru Date being the end of the current month; hit Search 
3) Write down the Total Transaction Amount on the last page of the Sweep statement before you begin 4) The resulting data should be sorted by Reference number 5) Use the page forward/back arrows 
6) If the check cleared the bank, select that row 
7) If you encounter checks that have cleared but are not in PS, make a note of them and keep going. 8) Once you have selected all the checks that have cleared the bank, hit the Reconcile button
9) Scroll to the very last page, last entry and write down the check number on the Sweep statement 10) Subtract the new Total Transaction Amount from the number you wrote down in step 3. This result should equal the amount on the last page of the Sweep statement called "Amount of Checks Paid" with the exception of any checks you noted in step 7. 11) Using the Excel download button  , download the outstanding PS checks.12) Save the file as Outstanding PS Checks MM YYYY in the folder of the same month located S:\departments\Bus&Fin\Bank Reconciliation\M&T\FY 2021 13) Provide the person doing the bank reconciliation with the following information: * Download of the outstanding checks in PS * Last check number in PS * Any checks you noted in step 7 |
