Here's a tech note for setting up new banks in Adagio BankRec (BR), entering take-on balances, and populating the transactions file.

1. When creating the Bank Code in BR, enter the opening balance and last statement balance with the same value. Opening balance is for informational purposes only. Corrections to the Bank Statement balance can be made through batch entry.
2. The bank Adagio Ledger (GL) account in Adagio Payables (AP) needs to be changed to a clearing account as the actual bank GL account is maintained in the BR bank code. This will prevent double posting to the bank GL account.
3. For all AP checks posted after the Last Statement Date, these must be manually entered into BR as a payment batch. This will update the transactions file for your next reconciliation. Perhaps it would be easiest to export the payment transactions and import them into BR.
4. The bank GL account in Adagio Receivables (AR) control account sets should be changed to a clearing account as the actual bank GL account is maintained in the BR bank code. This is not a required step but can be used to determine when the Cash GL account is updated, either when posting in BR or AR.
5. For all AR cash receipts posted after the Last Statement Date, these must be manually entered into BR, preferably as a deposit batch. This will update the transactions file for your next reconciliation. You only need to enter the actual bank reference if you want to use the NSF function on these checks.
6. After posting the BR batch(es), open Receivables and retrieve the Cash batch from BR and delete it. These transactions are already in AR and you don?t want to double post.
7. Open Ledger and retrieve the sub-ledger batch from BR and delete it. These transactions are already in GL and you don?t want to double post.
8. Now your BR Bank balance should match the bank GL account amount. If it doesn?t, then you may have either incorrectly entered the bank statement balance or missed one or more transactions from AP and/or AR.
   

You don't discuss how to enter the reconciling items from the opening bank statement's bank rec. The outstanding checks can't just be keyed into Bank Rec, since the vendor code field is grayed out, so I presume you need to enter them into a backup copy of AP and retrieve them in.

Or am I missing something?

Steve

Hi Steve,

No, you are not missing anything.

You can enter the checks as Miscellaneous payments in BankRec. Just bypass the vendor code field. You can edit the Vendor Name field.

If you want to retain the ability to reverse or clear the transactions with error in BankRec and have the pending status transferred to the AP Check Reconciliation, you will need to transfer them from a backup copy of Payables.