Cash Management

Question

I have had an ongoing problem with bank reconciliations. The Bank statement ending balance is not correct, and is not the amount that we enter when starting the reconcilaition. I have worked with support 2 or 3 times. They have manually entered the correct amounts. Each time I get asssurance that the next month's reconcilaition will be correct. It is not. Is anyone else having this problem. Is there an alternative to using Cash Management for bank reconciliations still using data from AP and PM???

kathym@alliance · Answer

Julie - I have run into this and it can be tricky. In some cases, the bank balance is not properly updated when you process some cash-related activity. For example, you might have a system shutdown or power surge right at the point that a check run is posting to the bank. If the system can't update the value on the cash balance it will be wrong. Another possibility I have run into in the past is that the Setup Assistant wasn't run correctly when the account was first set up. 
 Have you tried running the reconciliation reports in CM? There are two I use pretty frequently: 
 CM Balance to GL - this one will test that all entries were posted correctly to the GL cash account. In other words, no GL entries were posted directly without going through CM and no non-check or non-deposit activity posted to the cash account. You need to make sure cash account entries in GL are posted before running this or it will be wrong. 
 Bank Account Bal Verification - this report may uncover a situation where the entry hit the bank (you can see the transaction in the Register) but the account balance was not updated. This usually happens due to situations I mentioned in the first paragraph. The only fix for this is to manually adjust the balances. 
 Good luck!

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