Instructions for Reconciling the Lab's Bank Account

This needs to be done each time we receive our bank account statement (minimally one time per month).

Once the statement has arrived, take that and all of the unentered human subjects payment forms to a computer and open up Quicken.

If Quicken asks if you want it to be updated or register, answer no or register later.

Click on Examining Addictive Behavior (the name of the account through which we pay our participants).

If the program doesn't automatically go there, select register view.

Once in the register view, enter in all of the human subjects payment form entries. Specifically, you will need to enter in the date, check number, participant name, amount paid, and then the study code, followed by an underscore and the participant's ID number (ex. AFAN_200231).

You can move through the different sections of one entry using the tab key.

After entering the study name and participant ID code, Quicken will likely ask if you want to create a new category with the name: name of the study and the participants ID # that you had just entered, answer yes. A pop-up window will appear, just click OK.

Hit enter to move to the next register line/entry.

After every new entry, double check the information you just entered. After hitting enter, double-check that no more information made it into the entry (you should particularly attend to the memo section).

Once all of the human subjects payment forms are entered, hit reconcile.

A pop-up window will show up. You will need to enter into the proper sections:
New statement ending date, opening and closing balances- (all of which can be found on the bank statement). These dates and numbers should match what's found on the bank statement.

Enter this information, and click enter.

You will be brought to a list of names with check numbers and dates.

You should go through the pile of checks and deposit slips (if any) and when you find the entry in the list, then click on that entry.

A green check should appear after you click on each entry.

Once you have gone through and created green checks for each check, then look in the lower-right corner of the screen next to the heading: difference. If the difference is zero dollars, then all is well and you should click finished. If there is still a difference, then you need to go through all of the returned checks and double-check that the information printed on the check matches the information in the list.

You can not finish a reconciliation until the difference is $0. If you can not bring the difference down to zero, then contact John, but do not hit finished

If some piece of information on a returned check is not accurately reflected in the list of entries, then right click on that entry and edit it. Hit enter or return to reconcile when you are done.

If a check comes back, and you can not find a human subjects payment form for that check, then enter the information found on the check's into the register by right-clicking on any entry, clicking edit, and then scrolling to the bottom or the register and creating a new entry.

Try to figure out where the human subjects payment form for that check went. Notify John if you can't figure it out.

Whenever information doesn't match between the statement and the Quicken file, try to figure out why. If it was an RA's mistake, notify them, and if it's possible, have them correct it.

RA's will occassionally fail to enter all of the participant's information on a human subjects payment form. Keep an eye out for this, and fill in the missing information whenever possible. You may need to remind them (occasionally or often) that keeping track of the lab's money is very important, and that you need their help in order to do it. Keep John informed of any RA"s that may make repeated mistakes.

Once you are finished with the reconciliation report, hit finished (in the lower-right corner). Remember, you can not finish the report if there is a difference other than zero found in the lower-right corner of the reconciliation page.

After clicking finished, a pop-up window will ask if you want to create a reconciliation report. Click yes, and then enter the month and year into the report's title section.

Print off the reconciliation summary and file it, along with the bank statment and returned checks in John's office.