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Help! Discrepancy in Bank Reconciliation

Posted By StephAGCM over 8 years ago

My March statement opening and end balances are correct and I am showing an unresolved amount of -28,916.97 and a discrepancy of -2,553.72. If I add both together, this equals the first payroll of 3 in April that was posted in March (money taken by bank at end of March, employees paid April 2nd).

I've never had this issue before when we encounter a 3 payroll month and it's just driving me crazy.

Any tips?

Thanks!

Stephanie

0 RandyW over 8 years ago

Run your prior months' reconciliation reports, look for entries after the reconciliation was posted.

As a test, uncheck 'hide corrections' and deselect everything, set the ending balance to equal the beginning balance. The unresolved should be zero.

If it isn't the reconciliation is broken, and you may have to clear the reconciliation data.

If beginning and ending are the same, and the unresolved is zero, there's an entry error somewhere and you need to find it in order to reconcile / while you reconcile.
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0 StephAGCM over 8 years ago in reply to RandyW

Hi Randy, I started to reset the reconciliation but in step 1 where I must print an account reconciliation report, my report shows "no data to report" I made sure I had the right dates and all. Any idea why that would be?

Thank you
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Sage 50 Canada

Help! Discrepancy in Bank Reconciliation

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