I have an urgent bank reconcilition question

Question

I have multiple banks to reconcile and the GL and the Bank Balance is not the same.

WWOOLMER · Accepted Answer

Two areas to review: 
 
 Check that on the bank rec Summary tab the Statement Date and the Reconciliation Date are the same. 
 Check in the AR receipt entry that the Deposit date in the header is the same as the Posting Date in the Entry detail. The Bank rec uses the Deposit date however the GL uses the Posting date. If these dates are in different months then your GL and book balance will be out of balance until the second month.

WWOOLMER · Answer

Have you had any Sage 300 training? This is a question best answered by your Sage Consultant. 
 In short, the starting balance of both the GL Bank control account and the Bank Services bank need to be the same - at some point in time. Then work forward month by month. 
 If that is too hard because it hasn't been done for years, for instance, then for each bank: -in the bank rec screen reconcile everything except any actual outstanding lines. 
 - add a new single bank entry (code to suspense) to match the bank services bank balance to the bank statements, then reconcile this entry. Delete or reverse this entry when it hits the GL 
 - If it is needed, enter a GL Journal to the GL bank control account so it matches the bank services bank rec screen balance. An accountant will need to advise the other side of the entry .

Sage 300

I have an urgent bank reconcilition question

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