I am having trouble sorting out my new employers accounts.
I am trying to resolve an issue with May's bank reconcile. Until I can figure out what has gone wrong, am I able to start reconciling the following months? Obviously just saving them as I go and not actually reconcilling them?
We probably need to know more information about the system etc.
One solution could be to post a dummy entry to suspense and then carry on reconciling; however, I would say it is better to knuckle down and find the error. Sometimes getting a fresh pair of eyes to look at it can help. Ticking off a list with your partner calling the numbers can sometimes help!
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
I wish I could, lol. I've recently changed career direction and after a year in college doing AAT level 2, I have finally manged to get a full time job. With no experience in this field, I am struggling to understand the business I work for and how to do the job!! All good fun though.
The downside is I work on my own. The boss is the only other person in the office and he is usually out and about on site.
Slowly getting there, but no one has been doing the accounts since the mid May. I've finally got the point of the bank reconcile, but it doesn't add up, especially with 3 transactions from 2010 & 2011!!
I'll heed your advice though and resolve this problem first before moving on to the follwoing months.
If you break it down into small chunks - doing just a handful of transactions at a time, if necessary - you'll be able to get it all reconciled. Don't worry about any old unreconciled transactions for now, once it's reconciled to date you can see what you're left with and deal with those transactions then.
