Bank rec not matching TB - Sage 50 - The Book-keepers Forum (UK)

Samalixo · Veteran Member

Bank rec not matching TB - Sage 50

katsafe · Member

Bank Balance (allowing for adjustments of unreconciled transactions) at month end does not match the TB. I've worked through the bank statements from the beginning of the last financial year and every transaction is showing as reconciled on Sage. The reconciled balance on Sage matched the balance on the bank statements. I've searched the audit trail for the difference plus multiples and divisions of the same.

Is there something really obvious I'm missing? I'm at the point of considering reposting the whole year's accounts. I feel like I should know what action to take to rectify the problem but I just can't think what. Can anyone point me in the right direction. Interestingly, if I do a retrospective unreconciled transaction report for any of the months April 2012 to Sept 2012 there is no data to produce the report - not sure if this has any relevance?

Any help/advice would be greatly appreciated.

Thanks

Kat

Cheshire · Master Book-keeper

Hi Kat

I have three thoughts about this!

I once spent hours looking for a few pence difference on some charity accounts - I got someone else to check it and they found the difference in about 5 minutes. Sometimes you can look and look and look but not see, because you get to know the figures too well, if that makes sense - you perhaps worth someone else looking.

I once had a problem with a Bank rec in Sage 50 after keying journal entries to the Bank (instead of using the 'Customer receipt'/'payment'/'Supplier payment'/ 'Transfer' tools under the Bank module - once I lost the Journals and used the correct tools my Bank balanced!

I did also once have a problem whereby I couldnt find something for the Bank rec in sage that I knew was there as I had only keyed it 10 minutes earlier and I had keyed the complete wrong date - I had keyed the item well in advance of the date! Not sure if that can work against you the other way - eg keyed a really old date so its fallen back into an old period where the year end routine has been done?

Not sure if any of these help - hope they do!

Taylor1 · Veteran Member

Hi Kat

I would check all the dates I have had this on occasion that I had just done it yet I couldn't find it.....I had a fat finger moment and had input the wrong date!!!

Also checking the ob are correct and you hadn't accidentally taken the figure from the day before?

As Cheshire says definitely get someone else to check it or export it to excel and highlight them as you go to double check and this will also make sure that you have included every single transaction, sometimes you can just look and look and the poor eyes cant see the wood through the trees

Rach

katsafe · Member

Thanks for the suggestions. Opening balance is correct and I can't see any wrong dates. I've gone back to August last year and the bank reconciliation figure on Sage matches the bank account. When I run the TB, click the figure for the bank and view the bank statement, there are more unreconciled transactions listed than if I open the bank reconciliation screen (if that makes sense). All the transactions are dated 31/08/12 or before but are not showing in the bank reconciliation screen. Would there be a reason for this?

Kat

NickCraggs · Guru

Another thing to try is that an item dated just after the Y/E hasnt been posted as reconciled on a date as being before the year end. This wouldnt show up on your outstanding payments or tb as it is dated after the year end but would affect your bank balance.

These things are always a pain to find.

Nick

Hal · Veteran Member

Kat

If you check the transactions on the activity tab for the bank a/c and sort by date does that help flag up anything?

Hal

Samalixo · Veteran Member

Not sure if I am on the right track here but will the bank statement balance be the same as bank account trial balance if there are unpresented cheques and uncleared deposits...will it?