Clearing adjustment entries on reconciliation reports

Sage 50 Accounting - Canadian Edition

Sage 50 Accounting - Canadian Edition
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Clearing adjustment entries on reconciliation reports

  • On my bank and visa reconciliations there are some adjustments listed in the outstanding deposits and withdrawals columns which cancel each other out.  The accountant would like me clear all of these corresponding entries to clean up the bank and visa recs. How do I do that?

    I have experimented with entering the same start and end date (eg. Oct 1) with a statement end balance that takes the Unresolved to zero (and carries forward the same and therefore, correct opening balance), then posting. The next start date then becomes Oct 2. (After messing with it, I restore from backup so I don't irrevocably make a mess). I am concerned that I may lose some entries this way. Is that possible? What is a better way to clean up the many adjusting entries I inevitably have (ie. Reversing J111. Correction is J112) so they don't appear on the report?

    Thanks,

    Karen

  •  Hi there:  Can you just check the box that says    "Do not show corrections"?   Or will that screw up the bank rec?  What about checking each of the entries as "cleared" since they match up and should be able to be checked off instead of left as outstanding.    I rarely bother to use the Simply Bank Rec in the system so not really sure.   Can't advise on the Visa Reconciliation as I have never used the Simply system to reconcile that either.   Rita Deering

  • Thanks for your input. I can check the "Do not show corrections" box but it doesn't affect the reports, ie. the adjusting entries still show in the reports and that's what the accountant wants cleaned up. Any other ideas?

    Karen

  •  As Rita mentioned, could you not check off the entries as cleared in the bank reconciliation since they zero each other out?

  • I check items off as cleared, but the problem is that all the adjusting/correcting entries still show up on Simply's "Account Reconciliation Report," ie. the Source column has eg. ADJCash or ADJ2074 (cheque #); the Comment column has eg. "Reversing J264. Correction is J491; the Status column has Adjustment, Reversed, Cleared or Outstanding. It's the Adjustment and Reversed entries that cancel each other out that I would like to take out of the report.

    Karen

     

  •  You can try going into your Account Reconciliation Transaction Detail report.  There you will have option to either select or de-select transaction to report.  Try unclicking the boxes for adjustments and reversals.  That the only thing I can suggest you try. 

  •  Thanks for the suggestions. I can't see how to follow your instructions about selecting/deselecting unless you are talking about Report Options where I'm given 3 types of reports.

    If I choose Account Reconciliation with Outstanding Transaction Detail Report, there is no detail about transactions on or before the end date. Although that gets rid of the adjusting entries, it also means there's no report of the legitimately cleared entries.

    If I choose Account Reconciliation Detail Report, all the adjusting entries are there. But I can't see any options about selecting or deselecting. I can add or delete columns, but that doesn't take care of the entries.

    Am I missing something obvious? Karen

  •  I am using Simply Pro 2010.  If I choose Reports/Banking/Account Reconciliation Transaction Detail, then where it says Template choose {Default Report Options}, that is where I can choose the start and finish dates as well as check off the various boxes that I want to see or not in the report. 

  •  Maybe that's the difference - I am using Simply Premium 2010.

    If I can go Reports/Banking/Account Reconciliation Report, there is no Template choose. Under Report Options I can choose Report Type; Account; Start/End dates; Group by Deposit No.; Report By Statement End Date/Reconciliation Date; and Show transactions entered after reconciliation. But there is no way to select not to show adjustments/corrections.

    If I go Reports/Banking/Account Reconciliation Transaction Report, I can check off that I don't want adjustments/corrections to show (thanks, your help steered me there). I'm not sure if this is a suitable report for the accountant though - at least it doesn't have the information that is included under Account Reconciliation report with Start and End dates, Balance forward, and subsection totals. I'll check with the accountant if this report is sufficient.

    Thanks for your help. Karen