General Ledger Balance Out Of Balance in Bank Reconciliation

Using BV-2010

In the Account Reconciliation Summary there are 2 sections:

 

Statement Information - My bank reconciliation is in balance with my bank statement

 

General Ledger Information - My General Ledger Balance at March 31 is $6,321.86.  The Adjusted Statement Balance after taking outstanding deposit/cheques into consideration is $3,709.77.  This leaves a $2,612.09 Credit which is the Variance with GL Balance.

 

How do I correct my General Ledger Balance to reflect the correct balance of $3,709.77?  I tried to adjust the general ledger by turning off integration, posting, then turning integration back on, but it did not work.

 

Suggestions??  Thank you!

  • I started with my current company in July, 2011 and apparently is from the period May 2009 to April 2011 according to the old bookkeeper who really wasn't sure what the problem was.  I've been carrying the discrepancy ever since.  The year end is April 30, 2012 so I thought I would try and get it solved.  The accountant from last year was aware of this, but did not make a big issue of it.

     

    I am aware of the need to be careful with integration and always write down what entries I am doing/did, just in case I need to reverse.  Nothing I have tried works, of course.  The asset and liabilties balance, as does the trial balance, so...I can keep it going or try correcting this.  Thanks Gerhard.

  • Thank you Gerhard.  I am not going to worry about this because the accountants don't seem to be bothered.   I like this forum and am happy to have found it.  Again, thank you.

  • GL Integration on/off only applies to OTHER modules posting to the GL. When you work in the GL only, the Integration on/off switch has NO relevance.

     

    In my experience when you are taking over a set of books which the bank accounts are out of balance you have 2 options:

    spend ALOT of time trying to find a needle in a haystack from the past OR post a journal entry to force the bank account to balance as of a current reconcilaition date and move on in life.

    In the end option B is better because what you will discover is that if you spend the time to find the problem you will end up adjusting the bank account and off-setting the other side of the entry to the income statement anyway.

     

    For your year-end work with the external accountant, work on the Balance Sheet and verify the accuracy of all B/S accounts and the NET amount on the Income Statement will fall out accordingly.