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Checkbook balance not in sync with ledger balance

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Posted on by dsky227

A few caveats - I'm new to Dynamics.

I don't really get the checkbook vs ledger balance difference.

I work for a non-profit that has been using Dynamics since 'bout 2015.

They reconcile bank statements manually - not in Dynamics.

Cleared checks have never been marked as cleared in Dynamics.

And some deposits are entered as GJEs - which don't impact the checkbook... only the ledger balance.

So - the checkbook has never been reconciled to the bank account... but, the ledger is reconciled monthly.

The checkbook and the ledger are not in sync.

What should I do?

What kind of correcting entry would I make that would impact the checkbook and not any ledger account

What should I do 'bout all those checks that have cleared but aren't marked as such?

Thanks.

MS Dynamics GP Version 18.4.1384 (2021) Server MS Dynamics GP 2018

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dsky227 20 on at

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First a few caveats. I'm new to Dynamics... am more familiar with QB. I'm not really sure I'm using the right words to describe the issue/question.

I'm relatively new to a non-profit using Dynamics. They're procedures involve manually reconciling to the bank statement. What this means:
* checks entered in the checkbook registered haven't been marked has cleared dating back to when they first starting using Dynamics - approx. 2015.
* Some deposits - where the ORG uses a third party vendor to collect payments - have been entered as GJE's... which affect the ledger balance but not the checkbook balance. Again, this has been going on since 'bout 2015.

My question is - IDK - if I want to start using reconciling with Dynamics versus a manual reconciliation - what kind of entry would I need to make to get the bank balance in sync with the ledger balance without affecting the trial balance (which the auditors have signed off on)? And what should I do 'bout marking checks as cleared vs uncleared... given the many years that no checks have been marked as cleared? Starting a new company with good balances seems like a blunt hammer. And I'm trying to avoid that. Would appreciate any suggestions/insights.

David

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Leco Lv on at

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Hi partner,

In order to better distinguish the issues, could you tell me what dynamics product you are using?

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dsky227 20 on at

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MS Dynamics GP Version 18.4.1384 (2021) Server MS Dynamics GP 2018

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Leco Lv on at

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Hi partner，

Unfortunately, this is out of my scope.

Your question may not get timely help in this community, you can repost your question in the Dynamics GP community to get more help.

(+) Microsoft Dynamics 365 Community

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dsky227 20 on at

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Thanks... I wasn't sure where I should post this.

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Leco Lv on at

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Hi partner,

please check this link.

(+) Microsoft Dynamics 365 Community

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