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I am trying to use the Cash Manager Reconciliation feature for the first time (we have 22 months of data). I reconciled to my GL, but my CA Balance is way off. Since I have not reconciled before, what could be in the CA Balance to cause the discrepancy?
I did run a report that showed voided checks still outstanding, but they total zero, so I don't know what the connection might be.
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> And remember, anything you post to your bank account directly via GL journals will not be included in the CM transactions, so on a monthly basis, you may need to create a CA transaction to mimic those. <
Be careful!
This is a configuration setting. Normally GL entries affecting the Bank account will show up in CM.
The setting is in CA Setup -> "Update cash accounts used in GL transactions"
and then Cash Account Maintenance -> "Accept updates from GL Transactions" for each account set up there.
Paula, the OD or OM entry type don't update the GL or any other module except CM - it's used as a balancing function only through the Cash Account Transaction screen. If you go into Entry Type Maint or pull a report of Entry Types, you'll see that there is no offset account for the O-entry types. I don't remember if this was set up already or if I was guided through the set up. When creating a CA transaction, you will need to enter a bank account in the Cash Account area, but because you are using OD or OM, it's not going to update anywhere.
Just make sure that all the dates you use (batch header and detail dates) are within your reconciliation range!!! You can put whatever you want as a description.
And remember, anything you post to your bank account directly via GL journals will not be included in the CM transactions, so on a monthly basis, you may need to create a CA transaction to mimic those.
If you are nervous about creating this entry, perhaps you can create one for $1.00 to see the affect. Since I don't know what your set up is, I cannot be 100% sure that my solution will work for you but my feeling is that it should. Do you have a CM user manual? Ours is located in the Dynamics directory, under User Guides/sl_cm. This might be of assistance to you if you are nervous about making the entry.
Good luck!
Sherri,
I am taking your advice and creating one lump sum entry, but what account do I use as the offset? I don't want to make more of a mess.
Thanks,
Paula
Paula, I had the same issue with CM .. I found that if you do not post every single bank transaction through CM, it results in out of balance condition that you describe. Additionally, if you post using a transaction date earlier or later than your reconciling date range, they don't show in the reconciliation list, even though they were posted to that/those periods. The "quick" way to deal with this is to go into CM transactions and create one lump sum transaction to increase or decrease your Cash Manager balance, using either entry type OD (outstanding deposit) or OM (Outstanding Misc Disb). The "O" entry types do not affect your GL at all.
I don't know if my suggestion is the best or recommended way of accomplishing this, but it worked for me. I had a good comfort level, once I understood the situation, that my GL was balanced. Eventually, as I learned NOT to use dates outside the period range when making entries, the out of CA out of balance became less and less. But if you are making any entries directly through GL, you will have this condition. I also changed my method of posting bank transactions to capture as many of the entries through CM as possible.
I hope this helps.
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