Hi Kat..not sure if this will help but have you got the correct opening balance from the bank statement i.e. have you allowed for unreconciled items at the beginning of he year?
Do you think you could have marked something as reconciled and it wasn't (I have done that on numerous occasions)
regards
Sue
-- Edited by Samalixo on Monday 8th of July 2013 02:43:10 PM
Bank Balance (allowing for adjustments of unreconciled transactions) at month end does not match the TB. I've worked through the bank statements from the beginning of the last financial year and every transaction is showing as reconciled on Sage. The reconciled balance on Sage matched the balance on the bank statements. I've searched the audit trail for the difference plus multiples and divisions of the same.
Is there something really obvious I'm missing? I'm at the point of considering reposting the whole year's accounts. I feel like I should know what action to take to rectify the problem but I just can't think what. Can anyone point me in the right direction. Interestingly, if I do a retrospective unreconciled transaction report for any of the months April 2012 to Sept 2012 there is no data to produce the report - not sure if this has any relevance?
I once spent hours looking for a few pence difference on some charity accounts - I got someone else to check it and they found the difference in about 5 minutes. Sometimes you can look and look and look but not see, because you get to know the figures too well, if that makes sense - you perhaps worth someone else looking.
I once had a problem with a Bank rec in Sage 50 after keying journal entries to the Bank (instead of using the 'Customer receipt'/'payment'/'Supplier payment'/ 'Transfer' tools under the Bank module - once I lost the Journals and used the correct tools my Bank balanced!
I did also once have a problem whereby I couldnt find something for the Bank rec in sage that I knew was there as I had only keyed it 10 minutes earlier and I had keyed the complete wrong date - I had keyed the item well in advance of the date! Not sure if that can work against you the other way - eg keyed a really old date so its fallen back into an old period where the year end routine has been done?
Not sure if any of these help - hope they do!
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I would check all the dates I have had this on occasion that I had just done it yet I couldn't find it.....I had a fat finger moment and had input the wrong date!!!
Also checking the ob are correct and you hadn't accidentally taken the figure from the day before?
As Cheshire says definitely get someone else to check it or export it to excel and highlight them as you go to double check and this will also make sure that you have included every single transaction, sometimes you can just look and look and the poor eyes cant see the wood through the trees
Thanks for the suggestions. Opening balance is correct and I can't see any wrong dates. I've gone back to August last year and the bank reconciliation figure on Sage matches the bank account. When I run the TB, click the figure for the bank and view the bank statement, there are more unreconciled transactions listed than if I open the bank reconciliation screen (if that makes sense). All the transactions are dated 31/08/12 or before but are not showing in the bank reconciliation screen. Would there be a reason for this?
Another thing to try is that an item dated just after the Y/E hasnt been posted as reconciled on a date as being before the year end. This wouldnt show up on your outstanding payments or tb as it is dated after the year end but would affect your bank balance.
These things are always a pain to find.
Nick
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Nick
Nick Craggs FMAAT ACA AAT Distance Learning Manager
Not sure if I am on the right track here but will the bank statement balance be the same as bank account trial balance if there are unpresented cheques and uncleared deposits...will it?
