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jsgraver


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bank reconciliation problems sage
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Anyone frustrated with the bank reconciliation procedure?
I would appreciate any comments on this idea
Why not introduce MEMO bank statement account structure within Sage where the true Statement balance shows
Its pretty easy to import the bank statement into Sage(csv and a couple of tweaks)
I ran some free trial software to give me my unpresented cheque and uncredited lodgement adjustements
posted these to memo accounts
Bobs your Uncle!
bank statement to ledger balance on paper IN FRONT OF MY EYES!
print and reverse post clearing down memo accounts
Also i picked up a transposition error on a banking and adjusted the actual bank balance
Could the memo accounts actually be used to reconcile Sage bank accounts?
This is the area that I am struggling with

Any comments from non Sage users?



-- Edited by jsgraver on Sunday 22nd of August 2010 07:38:13 AM

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attilabenko


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Hello,

Who are you? Would be nice if you introduce yourself before trying to sell something to us...

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Attila
jsgraver


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hi
my apologies for not following the correct procedure
as you can see i am a newbie
origionally i thought that the reconciliation software was a saleable product but i did not get any response, therefore i developed the idea to link into sage   as per this post
i am trying to develop a business as i have recently packed my job in due to ill health
i live in the Durham area and have worked in accounts for 35 years
hope this helps please tell me if you need to know anymore
aplogies

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attilabenko


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Hi,

I thought you might get a bit more response if you tell us a bit more about yourself...
You see people don't like direct sales on this forum so if you want to sell something without showing your background is not easy.

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Attila
jsgraver


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thanks for advice
as i said origionally to sell but i am more interested in replies about the idea of in ledger reconciliation
any thoughts or tips would be much appreciated

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Dalbir


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Hi Jsgraver

Welcome aboard

Most bookkeeping software have good bank reconciliation facilities

Even with our one, Arithmo; you can upload bank statment to the bookkeeping software and then just go through each bank entry and pick the nominal code (from a drop down menu) that corresponds to each entry on the bank statement.

Probably best for you, if you can sell your bank rec idea direct to Sage and earn some royalties from them.

Good luck with your business.

Dalbir

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jsgraver


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thank you for your reply
the whole idea was to save all the time involved in ticking off all entries
i worked in a car auction for many years and the client account was a nightmare
(thousands of transactionsoer month)
often got blurry eyed and missed transposition errors
it is useful for volumes of transactions
i also worked in a company which used invoice discounting which meant it was bank statement driven ie loads of entries hitting it before general bank account was updated making it more difficult to reconcile
thanks again

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BackOfficeGroup


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my monies worth...

I have no problems whatsoever with the bank rec in Sage - I thought the idea of a bank rec IS to tick off the entries between the two?

P

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jsgraver


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thank you for your comments
i am not knocking Sage at all but what exactly are you reconciling with Sage?
i am NOT  happy ticking of hundreds of entries!
i would prefer to clear them all and just leave the unmatched ones because i guess i am lazy!
what  are your thoughts on introducing self balancing accounts within the accounts structure rather than the old traditional method
as a GURU  i would really appreciate the benefit of your wisdom



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BackOfficeGroup


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The whole idea of reconciliation is taking the 2 and matching them up - this is the only way you may find errors. Self balancing means that no checks are made, which is what accounting and ausiting are all about - I suggest that if you do not like it, you don't do it!

Accounting is all about traditions and historical data etc etc, yes there are ways to improve and become more efficient but not to change the whole dynamics of the accouting function.

Thats my two pennies worth anyway and is just my opinion - I'm old school.

P

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attilabenko


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Hi,

I know big ( I mean BIG) companies do use automated reconciliation in some places. How does it work when you have lots of transactions for the same amount? just interested, no intention to buy ;)

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Attila
BackOfficeGroup


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I worked in a team of 10 for a travel company once, a project that took several months working 6 days a week 12 hours a day, to reconcile their ledgers!

The good old days!!

P

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jsgraver


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the whole point is that EVERY ITEM is checked and MATCHED
only the UNMATCHED items form the basis of the reversable reconciled transactions
i  too am old school ....1957 to be precise
i still strive to save time and effort
beleive me this software does exactly that
i cant give you a link to try it as im not allowed to
the ultimate test for me is to try it
I WILL NOT SELL IT TO YOU

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jsgraver


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big companies do use it
nhs trusts
solicitors etc
unfortunately the USA leads the way at USA prices!
very good point about same amounts  iwill look into that but i know on payments side the chq ref is cross matched 
however as i replied to the learned GURU i will not mention or sell you the software
the ultimate test is try it for free



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Rhianrach


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I'd love something like this but I can tell you now it would need to be psychic to reconcile our loan accounts. evileye


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Steve
jsgraver


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the ultimate challenge!!!!do you want to send me some dummy data
no personal details required
just general ledger data       date ref amount (number of transactions is irrelevant)
i can even omit or change items from that to pretend it is the bank statement equivalent
if i cant do it i will shut up and dissapear off this forum!!!!!!



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bro0010


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I'm new to this site. Forgive me, but does the e-Banking option in Sage not allow automated reconciliation of bank statements by reference and/or amount? What is it that you can't get from the existing functionality that you're looking to provide by other means?

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GemmaRollings


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A little off topic but I am having trouble viewing the bank reconciliation history. Adobe comes up with :

There was an error opening this document. Access denied.

 

Any ideas of what I can do to resove this? 

Thanks



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Stardoe


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Hi Gemma,

It might have been better if you had started a new post for your question, rather than tagging it on to this old thread 

Are you working with a networked version of Sage with other users?  If so, it may be that you do not have access rights to the bank rec or history?

Pauline

P.S.  If I were you I would start another thread with your question.



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Pauline
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