We offer a great service designed
to assist in reconciling your bank
statements. Your bank account
may require a good deal of clerical
time and expense to balance and maintain.
By using First National Bank's Account
Reconciliation System (a.k.a. "Account
Recon"), you can improve control
over balances and manage your assets
more effectively.
We
offer two reconcilement systems
to suite your specific needs.
Different options are available
with each service, allowing
you to tailor a reconciliation
program to your needs. Both
of our systems offer include
posted credits, which is
not a standard option in
most account reconciliation
packages.
FULL
RECONCILEMENT -
You are provided
with a complete reconciliation
of both outstanding
and cleared checks.
You provide us with
an issued check file
on magnetic tape
or MICR encoded check
vouchers. This file
must include serial
number, issue date,
and dollar amount.
Optional information
that includes voided
checks and miscellaneous
check information
(employee ID number,
department, customer
reference code, etc.)
may be included.
The issue information
is then entered into
the ARP system and
reconciled against
paid check information.
The system will identify
outstanding checks
by serial number,
issue date, and dollar
amount. Paid checks
are identified by
serial number, paid
date, and dollar
amount. The "outstanding
check file" is
carried forward each
reconcilement period.
The bank statement
,account balance
worksheet, reconciliation
reports, checks,
and output tapes
are available within
five working days
after we receive
the issued items
tape.
PARTIAL
RECONCILEMENT - You
receive a list of all paid checks,
including check numbers, posting
dates, and dollar amounts. The
items-paid list is verified against
your bank statement.
Benefits of Account Reconciliation:
Reduced cost of
reconciling bank statements
Expedites and streamlines
record-keeping
Outputs data useful
in managing cash flow
How the Account Reconciliation
System works:
For more information
about Account Reconciliation from First
National Bank, please contact us.
