Hello, I am completely new here and would really appreciate some help.
I have recently studied Sage and have started in my first job. It is more complicated than I expected, but I am really enjoying the challenge and learning fast. I am currently going through last year's accounts with a view to sending them to the accountant to publish. I have tidied up a lot of things - there were lots of duplicated payments/invoices, the VAT was in a mess and overdue. Now, I am at a stage where I need to try and reconcile the bank account. I have never actually done this in Sage before, but have read about it and think I understand the process. My problem is that I think the previous lady doing the books basically did what she wanted. When I click on the Reconcile function in the Bank module, there are no "History" pdfs to see. There are no Bank Rec reports anywhere, and the last Reconciled Balance is showing as -£14331.27. I do not have a clue how to start solving this. Can anyone please help/advise??
Hopefully you will have some opening balances from the accountant for the previous financial year. if you have, when you post the journal (again hopefully) you will have an adjustment to the bank balance. This adjustment should then give you the opening bank balance you need - either the exact balance as shown on the statement or the "book" balance if outstanding items were taken into account. Ask the accountant for the closing bank rec - it might help you. If you don't have the above, in the spirit if drawing a line below what has already been finalised, post a Bank Receipt or a Bank Payment to the suspense account for the difference between the book balance and the actual statement balance. This will at least give you a starting point for your bank rec. When you submit the records to the accountant for year end work, explain what you have done and why. Regarding the History pdfs - I have known them to be saved in an obscure location. Sage support can usually locate them, although it is possible that there aren't any if your predecessor was not using the Sage bank rec feature as it is intended.
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Sheelagh Lyons Bookkeeping Clarity Making Bookkeeping Clearer
The answers I provide are meant as a general guide only and do not constitute advice.
