Hello,

I am setting up the accounting system for a new company formed in December 2019. During that period there are some transactions. I have posted all the transactions (AP, AR and some general journal entries) and everything balances to the penny to the bank statement except for the December bank charges. I'm trying to do the first bank rec for Dec. 31-19 but get the error below. On the bank rec Expenses tab, I added the December bank charge. The December 31 opening statement balance was $0 and the ending balance was $1,324.18. The 12-31-19 balance sheet shows $1,412.01 for the bank. Minus the $87.83 bank charge, it balances to the statement. Why am I getting this error? If I look at the outstanding prior transactions, all those are posted. Not sure what to do.

I have also attached the reconciliation summary. It says I have an opening book balance of $1,412.01. This is the sum of 3 transactions (initial deposit of $200, a client reciept of $1,201 and $0.01 deposit for a Bill.com account verification).

What am I doing wrong here?

I'm using Sage 50 Pro Accounting (Release 2017.0).

Rickmeister