Bank Reconciliations

SOLVED

Recently I took over the accounting for a company and have found that she did not use the reconciliation feature in sage, and did a manual reconciliation through 

excel.  So the company has not had a reconciliation done since 2014, our auditor comes next week and I need to have our first month of the new year reconciled to go along with 

last year's files. Can someone direct me on how I can change the date of the reconciliation to April 1 this year, and change the bank account information to reflect the current 

amount, so that I can reconcile on sage moving forward. 

I really appreciate any suggestions I have attempted to but do not want to make more work if I change something to have it affect the prior year's records. 

  • +1
    verified answer

    I would suggest going back a couple of months to set up Sage 50 reconciliations so they match (hopefully) the manual reconciliations and then continue moving ahead.

    To set up Sage 50 reconciliations you need to have a bank statement. As at the start date of the bank statement you will need a complete list of all uncleared withdrawals and deposits. This is possibly available from the Excel spreadsheet. As this is the first reconciliation in Sage 50 you will be able to control the opening balance and the start date for the statement. When you have added all of the uncleared withdrawals and deposits on the Add Prior entries screen then check for a Discrepancy amount. If it is zero you should be good to go.