Sage 50 Accounts

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Bank reconciliation

Posted By Ann Ryan 2 months ago

I'm doing a bank reconciliation in Sage for the first time for January 2024.

We set up the company on Sage in August 2023 and have been doing our bank reconciliations manually from August to December 2023.

On the reconcile window the opening balance agrees with the opening balance of my manual reconciliation for the month of August. As this is not the opening balance at 1 January 2024 is there a way to change this figure without me doing a reconciliation on Sage for August, September, October, November and December 2023.

We haven't done our cleardown yet for the year 2023.

Thanks

0 Ken Fillmore 2 2 months ago

You can do a bank reconciliation in Sage as often as you like. If the balance at 31st December in Sage matches your manual reconciliation then you can just reconcile to 31st December with one reconciliation. If there is a discrepancy it is best to reconcile shorter periods starting from August. I would recommend thinking in terms of around 20 statement items at a time rather than going by dates.

The biggest hurdle is making sure that all transaction dates match the date on the statement, transactions with a date after the statement date are not available to reconcile.
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Sage 50 Accounts

Bank reconciliation

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