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[Tiffany Ziegler]

I’m trying to reconcile my bank statement via the Bank Reconciliation module. I’m off by $180 between the Adjusted Bank Balance and Adjusted Book Balance. I have re done this thing three times, on the chance that I checked the wrong box. The last two times, I’ve paid close attention to the amounts clearing, making sure they agree. I’m fairly confident that I’ve got things marked properly in the Select Bank Transactions Window.

I’ve run Check Links and I’ve also ran Reconcile to GL and nothing appeared there. What am I missing? Other than user error in clearing transactions, is there another reason my balances may be off? I am stumped on this one.

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Tiffany Ziegler
Vice President & Controller
Velcor Leasing Corporation
Madison WI
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[Ken Roy]

When I have to troubleshoot this, it’s usually a period posting issue.  Either the bank transaction or the GL transaction are in different periods.

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Ken Roy
Premier Manufacturing
Tualatin OR
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[Barbara Gavron]

,

Is it exactly $180? Meaning there are no cents? If so, I would be on the lookout for something recorded as $200 that is really $20 or vice versa. Other ideas would be:

• Look at the totals on the bank reconciliation and compare them to the totals on the ?bank statement. It might help to create a smart list of the marked items and export it to excel which will make for easier totaling of the amounts.
• Is it possible that there is a $90 item that you have recorded in the wrong direction in GP and when you clear it you are just seeing the $90 and marking it off, not realizing that it is in the wrong direction? In other words, a service charge of $90 recorded as interest income or something like that?
• Clear all of the checks and other payments first. Does that amount match the amount listed on your bank statement as total debits?
• Check to see if there is a service charge or other miscellaneous debit that you may have missed.

I would be happy to look at this with you. Private message me and we can set up a time later today or Monday.

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Barbara Gavron
Atlantic Beach / Jacksonville FL
904-536-0129
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[Stephanie McCabe]

There are a few other things I typically check when the balances don’t agree.  

• Are there any outstanding cash receipts for the month you are reconciling waiting to be deposited?  GP posts the cash to the GL when the cash receipt is posted but doesn’t show it in the bank recap until it is “deposited”.  
• Does the GL still match to your bank reconciliation for the last month you have reconciled?  Sometimes if the period isn’t locked down and someone voids a check and doesn’t change the void posting date to the current month, your reconciled GL balance can change.
• Are there any “GL” type transactions in your cash account you are reconciling.  A smartlist will help pin point that.  If you have GP set to allow entry directly into your GL account (instead of locked down using a subledger) someone could accidentally code something directly to your cash account.  That would affect the cash balance in the GL but not show up in your bank reconciliation screen.

Good luck!

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Stephanie McCabe
Controller
TREAN Corporation
Wayzata MN
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[Chad Hastings]

I reconcile 30 plus checkbooks a month so I understand how frustrating this can be. One of the first steps I take is to run a smartlist to see if something jumps out. I use the Account Transactions and search the GL that is assigned to your checkbook.

As mentioned by others it could be a posting issue. You can look at your outstanding transaction report to see if there is something there.

Good Luck.

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Chad Hastings
Staff Accountant
TREAN Corporation
Wayzata MN
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