Question Status

Pattie Sanchez asked a question on 18 Nov 2008 4:03 PM

Can someone tell me why my adjusted book balance in my bank reconciliation module does not tie to my gl bank balance? I am new to bank reconciliation.

Christina Phillips responded on 18 Nov 2008 10:03 PM

Hi Pattie--

The most common reasons include:

 1.  If you have just implemented Bank Reconciliaton, Cards>>FInancial>>Checkbook should be populated with the last bank statement balance in the Last Reconciled Balance field. This balance plus/minus outstanding transactions should equal the current cash balance.

2.  If you have been using Bank Rec for a while, then there are one of three scenarios that can cause things to be off.

  1. Entries made to Cash Account not in Bank Reconciliation, you can check for this by running Reports>>Financial>>Cross Reference by Source Document for the GJ source document, the cash account, and for a specific date range.
  2. Entries made in Bank Reconciliation (or other modules) that were not posted to Cash Account.  This is a bit tougher to narrow down, but you can start by looking at Distribution Histories in the other modules you use (Reports>>PIck a Series>>History).
  3. Entries made in other modules that affected Cash but not Bank Rec, the most common of these are cash receipts that have not been deposited.  You can check for these by printing Reports>>Financial>>Checkbook>>Undeposited Receipts and then depositing any receipts that remain (deposits update the checkbook balance), Transactions>>Financial>>Bank Deposits.

Let me know how it goes!

Take care,