Negative Unresolved credit card statement from previous fical year adjustment

Question

Hi there, 
 When reconciling my credit card statement, I have a negative unresolved amount that was a YE adjustment from my accountants the previous fiscal year. Is the unresolved to show zero before I post or do I have to resolve this prior to posting? 
 My statement start and end dates are correct. I have even reset the reconciliation and it still shows as unresolved. I'm fairly new to bookkeeping and I am at a loss as to how to correct this! 
 
 Any help would be appreciated!

Richard S. Ridings · Accepted Answer

gangus said: Is the unresolved to show zero before I post or do I have to resolve this prior to posting? 
 I am afraid you've asked the same thing on both sides of your "or". And the answer is Yes, if you wish to do it properly. 
 On the menu, you will see a Report menu. Select the Journal entry option from it and you will see it will try to post a one-sided entry to balance. This can't be done so you will have to plug the amount to just one account if you hit Post/Process now. I had this same issue two days ago with a client and found the amount of roughly $292 was actually 4 entries missing from the books and at least two were over $10000. 
 The negative means you need to find something on the Deposit side to check off as cleared or you have checked too many items on the Withdrawal side. If you have reviewed the statement and checked off everything that is on it, and nothing else is checked off other than both sides of adjusting entries, then you are missing an entry. 
 You have started resolving the problem properly by double-checking the dates. 
 Are you doing the first reconciliation since doing the accountant's year end entries? 
 Is there anything in the Discrepancy amount? It should be zero. 
 Have you double-checked that your Statements Opening and Statement End Balances are the same as on the credit card statement? 
 Do you still see the accountant's YE Adjusting entry and if so, does it clear the unresolved amount if you check it off? 
 If not, are you still showing the Insert Outstanding button and can you add back in the Accountant's year end entry to see if it will clear the unresolved.

Sage 50 Canada

Negative Unresolved credit card statement from previous fical year adjustment

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