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Kari Len

Need assistance with unresolved item on reconcoliiliation

SUGGESTED
Posted By

Hi,

Looking for a bit of assistance in bank recs. I took over the bookkeeping for these accounts and these entries were done prior to me being here. The rec balances in that it agrees with the bank statement, all transactions are accounted for on the bank statement in sage. The outstanding balance is correct with the exception of one transaction and there is a transaction in unresolved. I cleared up all the outstanding transactions that were from previous months because they all had a debit/credit and a reversal that had not been cleared up previously.

How do I deal with this one transaction that is being a pain in the but. I have about $30 dollars sitting as a ADJ entry 3 months prior on the rec. From what I can tell this was because they had posted this transaction incorrectly the bank account and then correctly to the Visa account. Now I have this one ADJ entry stuck on the rec that is causing issues.

Please advice on how to change this without messing with prior recs.

Thank you! 

  • 0
    SUGGESTED

    Hi  ,

    Thank you for your post and for the detailed information provided. Handling unresolved transactions can be complex.

    First, since the entry in question is an ADJ entry from three months ago, it's crucial to establish if this transaction was necessary and correct. If it was posted incorrectly, it could explain why it's now showing as unresolved. You will need to investigate why this transaction was entered and determine if it needs to be reversed or adjusted.

    Here are some steps to consider:

    1. Review Previous Reconciliations: Make sure that the ADJ entry was not already accounted for in a previous reconciliation. If it was, there may have been an error with how it was cleared or not cleared.

    2. Check the Transaction Date: Ensure the transaction date matches with your bank statement and accounting records. Incorrect dates can cause discrepancies.

    3. Reset the Reconciliation: If you've verified the transaction details and found that the issue persists, you may need to reset the reconciliation for that period. This should be done cautiously to avoid affecting other reconciliations. Follow the instructions in our article titled "How do I reset the bank reconciliation?"

    4. Data Integrity: There's also a possibility of data corruption within the bank reconciliation table. Running the Rebuild in the Support Utilities might help. If you're unsure how to proceed with this, it's best to contact support for assistance.

    5. Transaction Adjustments: If you find that the ADJ entry is incorrect, you'll need to make the necessary adjustments. Remember that any changes should precede the current bank reconciliation period to avoid further discrepancies.

    6. Professional Advice: If you’re still unsure, it might be beneficial to consult with your Sage business partner, network administrator, or accountant. They might offer a perspective or solution tailored to your specific scenario, considering they can review your company books in detail.

    Please note that Sage Customer Support does not assist with specific accounting advice, but our Scope of Support document includes resources that might help you further.

    For detailed guidance, you can also refer to the article titled "Bank reconciliation shows a discrepancy or an unresolved amount" on our Sage Knowledgebase.

    If this helps, please mark it as verified :)

    Warm Regards,
    Erzsi

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