Tying the Checkbook with the GL. help!

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Posted on by shana818

Hi guys,

I’m having a bit of a problem trying to figure out why the GL is not balancing when I don’t touch the GL at all manually. The checkbook balance is correct but Im having a hard time with understanding what is wrong. I don’t touch it at all and the only thing I post each month is the deposits that come from the integration to post the receipts in Great Plains. I post that in the bank deposit window using deposits with receipts. Then I will add any suspense monies, interest credits, and wire fees to the bank transactions window. I will post my usual bank transfer in the bank transfer window. And that’s all I do. Again, my “checkbook” balances each month but not my GL. What should I do? Is there something I suppose to do in the GL side that I haven’t been doing to balance it? Am I suppose to add something to it? Please let me know as this is getting to be a little ridiculous each month. The steps above are the only steps I take in Great Plains. I do not post any entries in the journal entry window so Im a little confused as to why the GL is not balancing with the checkbook. As of January I am off by $3,970.37As of February I am off by $60,291.95

Please help. :(

I have ran reports and all deposits, added transactions are showing up in the GL so I cant figure out what is wrong. Please help.

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Hossam Fathy 2,611 on at

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Your checkbooks linked to One GL account or every checkbook linked to specific account.
Are you sure all transactions is GL is posted.
Are you sure no one delete any transaction from GL or create transaction on GL direct.

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Some things you can try / consider:

Are your Transaction dates and GL Posting dates always the same?

Have you voided any transactions?

Is the difference the same each month, or does it vary?

Could someone else be updating the Bank GL Account?

If you do a detailed enquiry on the GL Account, and filter it to show transaction origin GJ - do you get any results? Ie look for transactions that did not originate as a bank transaction.

Next time you do a Bank Rec and it balances, close out of the Select Transactions window, back to the first Bank Rec window - here, set the Transaction Cut Off date to be well into the future (say, the end of your current financial year). Then open the select transactions window again. Compare the adjusted book balance with the Year End Balance on your GL. Are they the same?

Best regards,

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Richard Whaley 25,195 on at

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I think Ian's first suggestion is probably the culprit. If you are importing transactions and import them on the first of the next month, for example, but the checks and deposits are dated in the prior month, the check book will show the transactions in the prior month but the GL will be hit in the new month.

You stated some dollar differerences. Month to month, is the difference ALWAYS increasing or does it increase sometimes and decrease other times. If the latter is correct, then closely compare dates of transactions at month end.

You should also look at posting setup. Sometimes transactions are posted to GL based on the transaction date and sometimes based on the Batch date. If the Posting setup calls for posting based on the Batch Date, then dates are certainly suspect. Imagine importing Monday's data on Tuesday with transactions dated Monday but the Batch is dated Tuesday.

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L Vail 65,271 on at

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There is a KB article (I don't have the number) that list several reasons that the GL may be off from the checkbook. The other thing I would make sure of is that you do not allow account entry to your cash account. Go into the Account Maintenance window and UNCHECK the Allow Account Entry checkbox.

Another safety net is to not allow deletion of saved transactions in GL. This is a GL setup option that defaults to allow deleting of saved transactions. I have seen many a transaction deleted that should not have been and by that deletion threw the GL out of balance with the subledgers.

In my world many cash/gl balances are off because people mess with the posting type in A/P when they print checks from the Payables Transaction entry window. Does your A/P balance to your GL? If you can keep your postings complete I would check this more frequently than just once a month. If subsidiary ledger balancing to the GL takes up a lot of time and aggravation I highly recommend a third party add-on called 'The Closer' check it out at http://www.reporting-central.com/

Kind regards,

Leslie

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William Calloway 125 on at

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Hello Evreyone,

I will give only the problem areas I have come across in actually processing and reconciling cash to GL accounts:

1 - Transaction date in one month and Posting date in another. (Deposit date 11/30/2009 and GL posting date 12/12/2009 will throw November GL out by deposit amount and then correct itself in December.) When posting deposits and all othr transactions make sure that your "Transaction Date" (the date you want the transaction to show in your Bank Rec module) matches the correct period as well as the "Posting Date" (the date you want the transaction to show in your GL). Think of it as a two step item. Transaction Date is for the Bank Module and Posting Date is for the GL module.

2 - Deposits WITHOUT Receipts to clear transactions. This should be used ONLY when an item has been posted to the GL (via Journal Entry) module already. I have had an accountant use deposits without receipts to clear what should have been WITH receipts. Deposits without Receipts will not post through to the GL module, it will only affect the Bank Rec module.

3 - Checkbooks feeding same / multiple GL acounts. Every checkbook should feed a unique GL account. Having multiple checkbooks feed a single account will cause a loss of integrity in as much as the deposits and payables are concerned and once that is lost you postings and transaction dates will be the least of your reconciliation problems.

Hope these scenarios strat you on the best path to locating your problem.

All the best,

William

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