Clearing Banked Funds

Note that transactions that have been Cleared on SCO cannot subsequently be cancelled.

1. Click on the Banking tab

2. Select Check bank statement at the bottom of the screen

3. Select the relevant bank account

4. This will display a list of all the transactions you have banked but not yet reconciled/cleared

5. The online transactions will be listed individually.  Note that the last 4 digits on your bank statement reference relate to the actual date of the online payment 

6. At the top right of the screen click Expand/Collapse* to group the online payments into daily amounts (these should match the credits on your bank statement)

7. Tick the boxes on the right adjacent to the matched credits

8. Check the opening and closing balances to ensure they match your bank statement

9. Click on Save and exit, Yes

10. Type a name for the bank statement, click OK, Yes

11. The Bank Statement Report is generated - this includes the online payments as one total

12. If you wish to generate a report with the individual online payments itemised:

    1. In Check Bank Statement, select View cleared statements at the bottom left

    2. Select the Bank Statement at the top right of the screen

    3. Click on Export to Excel at the bottom left

    4. Save or Print the Excel report

13. Generate the Income and Expenditure Summary Report to keep with the statements above ready for audit

*If you don't see the Expand/Collapse option refer to Section 4 - Configure Online Payment System Options

See also:

Banking Quick Reference Guide

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