3 problems. a) Bank reconcilation b) Accounts Payable amount c) Forex

SOLVED

Hi All,

Please help me.

I am currently facing 3 problems.

a. My bank reconciliation statement is showing unresolved amount. my opening and closing balances are correct and all other seems to be fine to yet i am facing this problem. how can i get rid of it.

 BRS.pdf

2. Accounts Payable problem.

when i enter an invoice for a vendor (for example $1000 and process it and later when i enter the payment it still shows $1000) but the probelm here is the bank statement and accounts payable statement is treating the amount as .10 rather than 1000. how can i solve this.

so here you can see that i have processed 55100 but it is treating it as .55.

3. Forex problem

Sage is not calculating Forex exchange gain and loss for me even though i linked. 

Parents
  • +1
    verified answer

    I don't have time right now to look at items 2 and 3.  However, both are related I believe and based on the fact you made up the currency yourself.  If you didn't enter the proper exchange rates, you can see some weird numbers.

    Issue #1: Unresolved means you didn't click off/clear something that shows on the statement or you have clicked something that does not show on the statement, assuming you are correct and the opening and closing balances and statement dates are correct.  You have a lot of old entries that have not cleared the bank.  I would think a deposit of $6116 from Aug 10/15 would have cleared the bank statement by Nov 30/16.  If not, it should not be in that account by now.

    You have no Discrepancy which is good, so I would think the only issue is the amounts that have cleared the statement are not checked off.

    Generally a positive unresolved amount is the Deposit side that is not checked off.

    Now take a look at the top two lines of the image.  If this was a real correction, you would see an Adjustment and a Reversed entry.  You see Adjustment and Outstanding.  Double click the dollars to get to the journal entries and compare the journal entries with J# 1337.  I assume 1337 is the original.  Check your past bank recs and see when it cleared.  If it was adjusted after it was cleared on the bank rec, then you can have weird results.  If they are all supposed to be cleared, then you need to clear the second line.  However they don't all add up to the $28000+, they are more than this so it may not be your complete answer.  Hopefully this will get you closer to a balanced account.

  • 0 in reply to Richard S. Ridings

    Thank you so much. it was very useful and i was able to solve it. 

    can you please help me with the second issue please ?

  • 0 in reply to Tandin Phurba

    Probably not.  For anyone to figure out what is going on, you are going to have to post an image of your multicurrency setup dialog and the journal entry from your image of the Nu55100 entry you posted (chq 629373 - see the Report menu in Lookup mode).  I would also like to know what the exchange rate is on the particular entry (should have been shown in the image but does not indicate any - so maybe CAD is not your home currency?).  Also, what is the currency set up for that vendor?

    I've never seen Nu as  currency and the currency usually shows up as the Total in Nu, not just total.  So this entry appears to be home currency (I am assuming Canadian or you have mentioned otherwise).

  • 0 in reply to Richard S. Ridings

    Yes, you are right. home currency is not CAD, this account is created for our branch office in Bhutan which uses Ngultrum and as Ngultrum is not available in sage we had to use Indian Currency as the exchange rate for BTN and INR are same, so just to avoid confusion we kept the home currency as Indian Rupees but symbol as Nu. i have attached the currency set up image now. hope you could get some solution from looking at it. 

    thanks so much for your continuous help. 

Reply
  • 0 in reply to Richard S. Ridings

    Yes, you are right. home currency is not CAD, this account is created for our branch office in Bhutan which uses Ngultrum and as Ngultrum is not available in sage we had to use Indian Currency as the exchange rate for BTN and INR are same, so just to avoid confusion we kept the home currency as Indian Rupees but symbol as Nu. i have attached the currency set up image now. hope you could get some solution from looking at it. 

    thanks so much for your continuous help. 

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