4165-01 Personal Bank Reconciliation via the Web -- ZZqve

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                       TO:  Interested Onliner BLVRs                                                                                                                FROM: Jim Bramer, Retired CPA
                                                                                                                                                                                                 FILE:  4165-01/qve

                        RE:  Personal Bank Reconciliation via the Web                                                                                Originated in April 2002                                         


Be sure and read about "Personal Finance Spending Control" resources found at and   0400  
    


 Please study the content of  0165,  "WEBrec, a QB Bank Reconciliation system".  The thrust, of course,  of this 0165 Onliner document is to assist Ministries in such matters.  It should also give BLVRs insight into the following:

  •     ECCU provides both Ministry and individual members with a fantastic Online Bank service that they call  EC*Web .. click here and go to their web site and research the information under the "Online Service" tab.  Contact us at Jim@bcidot.org  for a list of other financial institutions who provide like web Online Banking services.
  •     EC*Web  permits you to view online your bank statement equivalent .... deposits, checks detail and running balance.
  •     You then can print out and compare this information to your check stub record ... in essence you can do your bank reconciliation at the time of your choosing .... not at the end of the month when ECCU's Bank statement arrives in the mail. Let us know at Jim@bcidot.org  if want to know how to do this, etc.
  •     You further have the option of electronically posting that information automatically to your personal Quickbooks (QB, or even Quicken) accounting system.  It is NOT possible, as I understand it as of this "UPTD" date, to use this service with the QBOE   service.
  •     Now you have your bank statement transactions within QB and you do NOT have to post it manually into your personal accounting system.
    •     CAUTION:  While you have the right dollars into the QB or Quicken system, you do have to go into QB or Quicken and manually add payee type info and then classify each transaction into accounting categories. 
    •     CAUTION:  As usual in a bank reconciliation process, your check stub balance could be different due to deposits or checks/bank charges that have not hit the bank yet.
  •       We call all of this the QB-WEBrec system.

    Personally, I am VERY impressed with EC*Web  as it provides BLVRs with some GREAT tools to assist us in our pursuit of RIGHTEOUS PERSONAL FINANCE.- RPFin.  An amplification of this tool is found within the 4201  link contents as BLVRs are helped by  HOMERS  on a weekly basis.

    Please go to  4999  for more information about RPFin resources and topics. Let us know at  Jim@bcidot.org  if you have have any comments or questions. 


" FREQUENTLY USED TERMS"   ABOVE   INCLUDE:

BLVR = Believer(s)  in such systems .... or especially in Jesus Christ as Lord and Savior
BREC = Bank Reconciliation
ECCU = Evangelical Christian Credit Union
EC*Web = See detail below about how ECCU provides you with  the equivalent of a bank statement via the Internet
  
QB = QuickBooks
QB-WEBrec = see details below about how the EC*Web information is combined with QB
 
RPFin = Righteous Personal Finance                   


  .  The bulk of this Publication originated in April 2002  UPTD:  April 30, 2008    

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