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I am trying to use the electronic bank reconciliation function and am having a difficult time getting the "CA Balance" and "CA out of Balance" to balance so that I can mark the month reconciled. I have tried entering OM and OD transactions, but that makes the deposits in transit and outstanding checks balances incorrect. This is a new function that we are using and I was able to successfully reconcile the same account in a previous period, but am having no luck now. Assuming the statement balance and adjusted balance on the bank side is the same. The GL balance and GL out of balance are also off, but I can't figure out how to fix them. I manually reconciled the account to compare them and nothing is making sense.
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Hi Charlane,
Are you reconciling the bank account monthly? So I'll asume that you were able to reconcile August and are now working on September for example. So assuming that, check to see if the CA Balance matches the Closing Balance in the Daily Cash Balances screen. Note your CA Balance. The open the Daily Cash Balances screen, put your cursor on the bank account you are trying to reconcile, and then click on Balances by Date. Find the latest closing balance on the date closest to 9/30/2011. Do they match?
Also, on the Bank Reconciliation screen, make sure that the Statement Date and the Reconciliation Date are the same (9/30/2011 for example).
As to the GL Balance, it's most likely a timing difference. Maybe you have a transaction that has a date within the bank reconciliation date range, but is posted to a different period in GL. You can run the Bank Reconciliation report and check the Statement to GL Exceptions at the bottom of the report. Is your difference listed in that section of the report?
Also, check the GL Account History screen for that account and see if the YTD Balance for the period you are reconciling is the same as the GL balance showing in the Bank Reconciliation screen.
Let me know what you find.
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