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A transaction has 3 stages:

1. Uncleared

2. Ticked (pending reconciliation)

3. Reconciled (after the reconciliation is finalised) 

Whilst the default 'sort by' is date, sorting by date alone can be problematic as trust cheques are not usually written on the same day as they are presented to the bank. To overcome this it may be useful to 'sort by', Ref # or amount. 

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The adjustments have also been prenumbered for your convenience. A list of adjustments, and further explanations, are explained below:

1. There is money deposisted into my account that I have not yet processed

   1. This is the most common type of adjustment and usually occurs because of the trust accounting regulation that states that trust receipts cannot be backdated

   2. The date is the date the money was physically received by the firm (in the case of direct deposits, this is the date the funds appear on the bank statement)

   3. The description is what the funds are for E.g. professional fees

   4. The Txn Ref  is the receipt number for the transaction, when it has been processed (in the following month)

   5. The matter ref is the matter number the funds relate to

2. There is an error on my bank statement that the BANK will put BACK INTO my account

   1. A common example is bank charges that are drawn from the trust account, rather than correctly charged against the firm's general account. 

3. There is an error on my bank statement that the BANK will TAKE OUT of my account

   1. Funds credited to the trust account by the bank in error, although this is not very common 

4. There is money taken out of my account that the FIRM will PUT BACK

5. A cheque was presented for LESS than our records

6. A cheque was presented for MORE than our records

7. Money deposited was MORE than the receipt we wrote – Firm will receipt

8. Money deposited was for LESS than the receipt we wrote – Firm will deposit more

9. Deposit for General was put into trust – bank will correct

10. Deposit for General was put into trust – we will receipt and process correction

11. None of the above describes my problem

When in the adjustment screen, this list can be brought up by pressing the down arrow on your keyboard. 

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Once a bank reconciliation has been finalised a report can be run through the reports Reports module > trust reports Trust Reports > end End of month > trust bank reconciliationMonth > Trust Bank Reconciliation. Select the date of the bank reconciliation you wish to print.

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