McGovern Consulting Group

This MIP Fund Accounting training module focuses on the Bank Reconciliation process, with the goal of helping you reconcile bank statements accurately and keep cash reporting reliable. When reconciliation is handled loosely, problems usually show up later as unexplained variances, duplicated clearing activity, or month-end delays that are hard to diagnose because the trail is incomplete.

The training starts with an overview of the Bank Reconciliation module, including how to access it and how the main areas of the module are organized. You will learn what each file folder area is used for and how the layout supports the end-to-end workflow, so you are not guessing where a particular item should be cleared or reviewed.

From there, the course walks through each tab in detail, beginning with the Summary tab. You will learn how to create and use reconciliation IDs and how the Summary tab functions as the control point for the reconciliation. The module then covers the Checks/Vouchers tab, including what each column represents and how to review and clear outgoing items in a way that matches the bank statement.

Next, you will work through the Deposits tab, focusing on how to identify deposits, interpret the available fields, and clear them correctly. The Other Cash Items tab covers transactions that hit cash but are not standard checks or deposits, which is where many organizations get stuck when bank activity includes fees, interest, corrections, or other adjustments. The training also includes the Suspense Items tab for more complicated situations, showing how to enter and manage items when the transaction needs additional research or information before it can be cleared cleanly.

The course wraps up with the bank reconciliation icons and what each tool does in context, so you can move through the module efficiently and avoid accidental clearing or missed items. This training is a practical fit for staff responsible for reconciling cash accounts in MIP Fund Accounting and for anyone who needs reconciliations to hold up under review and support accurate financial reporting.