Final Account Rec for Closing Bank Account

I recently posted a question with regards to having changed banks. Now, I am doing the final account rec on the closed account, but I am having issues.

For the month Feb. 1-28, 2018, the reconciliation went off without issue--all book and bank balances matched, etc., March 1-31, 2018, however, is another matter.

With regards to the bank account we closed out, we got a bank draft dated March 12, 2018 clearing out the balance, so there is literally just that one transaction for March 2018... no additional bank account charges as one usually sees at the end of the month.

Screen capture of account rec window

I ran the report, "Account Reconciliation with Outstanding Transaction Detail Report Feb. 1 to Feb. 28, 2018"

Screen capture of account rec report

Here is the GL report showing all the transactions this year; note all opening/closing balances matched the account recs to date.

Screen capture of GL report.

And when I run a balance sheet report for this year dated Feb. 28, 2018, the bank balance shows as $1,126.54; when I date the balance sheet report any time after the bank draft date of March 12, 2018, it no longer shows up on the balance sheet (setting the report to hide accounts with zero balances).

I'm really, really hoping it is something obvious staring me in the face and that I don't have to reset the account rec. Any ideas on where the $91.84 came from?

Thanks,
Kristine

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  • 0 in reply to RandyW

    Hi Randy,

    Here it is:

    Screen capture of account rec window

    When I started doing the account rec for March 1-31, 2018 on our new bank account, I had forgotten to select the new bank for some expenses... these are the reversals/corrections that you see here. The final reversal you see here for $91.84 is where I tried to make an expense entry to see if that would rectify the issue in anyway... it did not... made it worse... doubled the unresolved amount... so then I reversed out that entry out.

    FYI, here is a screen capture from the tab, "Worksheet," and also note I have not made any entries on the tabs "Income" and "Expense," in the account reconciliation window.

    Screen capture of worksheet

    Thanks for taking a look.

    Cheers,
    Kristine

  • 0 in reply to Kristine2012

    Hi Kristine,

    I can't see anything wrong with the data that Sage 50 is showing on the screen.  All I can suggest is to just leave the account as is, and keep all the backup that explains the apparent discrepancy.  

    Sage won't support making an account inactive or otherwise restricting future entries, so you may have to put something in the account title (zzz in front, etc.) for three years until you can mark it inactive.

  • 0 in reply to RandyW

    Thanks, Randy...yeah it's kinda odd, hey? And I'm thinking that because it's the final account rec for that bank account, that it's probably not really worth me spending still more time to solve the mystery, as much as it's driving me bonkers.

    I'll keep records as you suggest, and come year end when we go to the accountant I'm hoping that they'll let me know where I buggered up and/or they'll have an adjusting journal entry for me on this or something.

    Thanks again for taking a look!

    Cheers,
    Kristine

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  • 0 in reply to RandyW

    Thanks, Randy...yeah it's kinda odd, hey? And I'm thinking that because it's the final account rec for that bank account, that it's probably not really worth me spending still more time to solve the mystery, as much as it's driving me bonkers.

    I'll keep records as you suggest, and come year end when we go to the accountant I'm hoping that they'll let me know where I buggered up and/or they'll have an adjusting journal entry for me on this or something.

    Thanks again for taking a look!

    Cheers,
    Kristine

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