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Bank reconciliation difference

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Posted on 26 Jul 2013 14:18:47 by Goloknath

I am trying to balance a bank account and am getting a difference of 28k. When viewing the G/L account for the bank account, the balance is 0.00. The bank statement shows 0.00.

I am assuming that the previous bookkeeper at some point made a (or several) direct entry to the bank account through the General Journal, bypassing one of the banking routines.

My first reaction would be to make an adjusting entry to a suspense account in the bank rec module. Then make a reversing entry in the General Journal. Anyone have a cleaner process?

Thanks!

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Goloknath on 26 Jul 2013 at 15:35:36

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RE: Bank reconciliation difference

Update: I went ahead and made an adjustment in the bank reconciliation module, series posted it, then ran a reversing entry through the general journal. This appears to have worked. I guess I'll find out the next time I reconcile the account!