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Checkbook balance not in sync with ledger balance

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Posted on by dsky227 20

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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Dynamics 365 Administration
  • Suggested answer
    Leco Lv Profile Picture
    Leco Lv on at
    RE: Checkbook balance not in sync with ledger balance

    Hi partner,

    please check this link.

    (+) Microsoft Dynamics 365 Community

    pastedimage1672971610445v1.png

  • dsky227 Profile Picture
    dsky227 20 on at
    RE: Checkbook balance not in sync with ledger balance

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

  • Suggested answer
    Leco Lv Profile Picture
    Leco Lv on at
    RE: Checkbook balance not in sync with ledger balance

    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

  • dsky227 Profile Picture
    dsky227 20 on at
    RE: Checkbook balance not in sync with ledger balance

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

  • Leco Lv Profile Picture
    Leco Lv on at
    RE: Checkbook balance not in sync with ledger balance

    Hi partner,

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

  • dsky227 Profile Picture
    dsky227 20 on at
    Checkbook balance not in sync with ledger balance

    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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