Bank Rec out of balance

Question

I have redone my current month bank rec several times and still have a difference of $3751.06. I have followed all the logical steps to ensure there are no mistakes in this current rec. I think the only thing I can do is go back and check previous rec. to see if I inadvertently changed something that affected one of them.

Does anyone have any advice or tips for me to be watching for to make looking for this needle in the haystacks less daunting?

TIA

Erzsi_I · Answer

Hi Adair Vogel , Thanks for reaching out. I understand the frustration that can come from discrepancies during bank reconciliation. Here are some tips to help you resolve this issue:

Missing Transactions : Ensure all transactions up to your statement end date are entered. 
 
 Verify the statement date and compare it with the Sage transaction dates. 
 Check other bank accounts to make sure transactions haven&rsquo;t been mistakenly recorded there. 
 Look for transactions with incorrect dates by searching a broad date range.

Difference Not Zero : 
 
 Double-check the statement end balance and update it if necessary. 
 Review all transactions to ensure none have been missed or duplicated. 
 If a transaction is reconciled in error, deselect the Reconciled checkbox. 
 If it&rsquo;s the first reconciliation, confirm the opening balance matches your bank's opening balance.

Remember, for transactions that have been entered with an incorrect value, you can correct this by deselecting the reconciled checkbox and then adjusting the transaction value. 
 Also, consider utilizing the Cashbook report to cross-reference transactions and ensure all entries are captured correctly up to the current date. If there are future dated transactions, they might be causing the discrepancy. 
 If the discrepancy persists and you suspect there might be a duplicate entry or something that was inadvertently altered in previous reconciliations, you might need to compare your bank statements with the Sage Banking report line by line. 
 For more in-depth guidance, you may refer to the article on how to fix bank reconciliation issues here . 
 If you still find the process overwhelming, don&rsquo;t hesitate to reach out for support. Sometimes a fresh pair of eyes can spot something you may have missed. 
 Hope this helps you find that 'needle in the haystack.' If this helps please mark it as verified :) 
 Warm Regards, Erzsi

Sage Accounting Canada

Bank Rec out of balance

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