ERP X3 Bank Reconciliations, Made Easier

Oct 24 2014

In today’s market, it seems that every ERP system has a Bank Reconciliation module. SAGE has been constantly working to enhance the features to let users embrace the function in a simple and effective way! Moving from an add-on in SAGE 300 to an integrated module in SAGE X3, there were significant changes and improvements seen. Another new functionality, BANREC, has been introduced in SAGE X3’s patch level 17; this update offers more detailed and streamlined information to help facilitate reconciliation.

Here is a step-by-step guide to this the reconciliation process:

  1. The screen is found under the same path: A/P-A/R Accounting,Reconciliation, Bank reconciliation (BANREC)


  1. Enter the Bank Enter the Statement date from the bank statement. All the unreconciled transactions populate at the grid area. The sum of the all the outstanding deposits and Withdrawals are filled in the header fields for the selected field. The Description and Mark can be entered but optional. The Status field is frozen with either of three types: i) Not Open: No bank statement number is entered or created, ii) Open: Bank statement is created but not complete and iii) Closed: Locked to edit


  1. Enter the Ending statement balance. You will find that the Adjusted balance The Variance shows the discrepancy between the adjusted and the book balance. Click Create to start reconciling. The line transactions could be cleared by clicking the corresponding lines at the Mark column (or) opening the Mark button at the bottom. This option allows to select a range of lines by date or document types. So, this new screen is changed by having a red check mark replacing the 5 characters. As and when a line is checked for clearing, the Cleared deposits and Cleared withdrawals get updated providing clear assistance during this process.


  1. To make adjustments for instances like bank fees, etc. there is a shortcut button Adjustment at the bottom. This opens up the Journal entry screen. The entries can be made and the adjustments are added to the list in the reconciliation grid. How easy!
  2. Similarly any Payment/ Receipt that weren’t recorded could now be added through the Payments button at the bottom. But the screen needs to be refreshed with Search in order to see these entries populated in the reconciliation grid.
  3. Don’t forget to Save and Search to ensure any additional adjustments added.

This BANREC screen also comes with a new parameter RECLCK. This is found under Parameter, General Parameters and Parameter Values, and can be used to lock/unlock accounting cancellations against the reconciled transactions. This could be set as a control point for after-reconciliation entries.

If you are more interested in knowing about the reconciliation process and troubleshooting error messages, please feel free to contact Mantralogix to get assistance from certified consultants!



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