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

Question

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.

Richard S. Ridings · Accepted 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.

Sage 50 Canada

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

Top Replies

COMMUNITY

COMPANY

PARTNERS

SUPPORT & TRAINING