An outstanding withdrawal could be a bank error, a missing Sage 50 entry, a double entry, or a number of other possibles. You indicate that there is a outstanding withdrawal is it in Sage 50 and not cleared through the bank - a missing cheque not entered in Sage 50 or a withdrawal in Sage 50 that has not cleared the bank? If it is on the bank statement and not posted in Sage 50 then I would want to find the cheque to verify the payment.

If [x] Do not show corrections is selected, the problem could be hiding in there.

Reversed item are 2 opposite transactions that you don't see, there could easily be one half of a past error recorded as cleared (along with it's correction)

It's entirely possible, (if the account has never reconciled completely) that the reconciliation was set up wrong, and it's not impossible that the reconciliation data was once in a pile-up on the Information Superhighway.

Make sure that you have not selected the option to 'Hide Corrections' in your bank reconciliation. There could be an adjustment hidden that needs a correcting entry, and you may be able to find out what transaction needs to be corrected based on previous errors made.

The accountant has brought up this issue while doing the year end as on the bank rec report, the adjusted bank balance does not equal the GL adjusted bank balance. It is out by the amount I indicated above. He asked me to do some digging to see if I could find where the issue lies. I did find that the previous bookkeeping had cleared 4 withdrawal entries that totalled the above when they in fact had never cleared. 3 of them were entries that did not even occur (eg. 2 duplicate cheque entries and a cash withdrawal that didn't happen. I assume when she posted the bank rec for the month this out of balance started, she cleared all the items on the bank rec screen (including those 4 entries) and posted. I have no idea how to fix this now. I've tried 2 difference scenarios (with copies of the original file). One was to reverse all the orig entries and clear them on the bank rec and the other was to just delete the original entries. Either way, when I did the next bank rec, it's still out by the same amount as before and the bank rec reports adjusted bank balance still does not match the GL one.

In a case like this I would find a month prior to the month where the problems occurred and go back to there to start again on the reconciliations. Be sure you have a good month to restart at by seeing what items are still outstanding at the month end. If you know everything was good for March 2016 and you know what was outstanding as at March 31 (or date of reconciliation) and then reset the bank reconciliation starting at April 2016. If you need help resetting the bank reconciliation you can find how in the Knowledgebase or re-post here and we can help. When redoing each month's reconciliation make the corrections to the entries that are causing the concerns and everything else should clear as it was in the past.
HTH

I thought that bank reconciliations could not be 'undone' without having to restore the file to a period before it was done? This issue goes all the way back to March 2015. So if I can reset it, then I assume I would have to redo all the bank recs since then?

Sorry, but yes if you reset the file you will have to start from the month when the error occurred. From earlier comments I did not pickup on ;the fact that it is 18 months back. I still think that that will be the best way to get everything back together properly. And there is only a very short period before you won't be able to go back once you rollover the second year end.

I am at that point already for the rolling over as the year end is Sept 30th. Once I roll over I can't go back to Mar of 2015. I guess I'll get going on those reconciliations and hope it looks ok after I'd done the Mar 2015 one as that is the one where it all started. After that I can probably do 1 big reconciliation for multiple months. Going to do it on a copy of the file first. If all goes well I can just use that file and rename it. Fingers crossed!

update......it worked! Went back a few months before where the problem started and re did all the reconciliations so it's all good now.

I have a similar situation but the month previous reconciliation shows no outstanding withdrawals.  I've looked at the transaction detail report for the previous month and see 0 reflected for outstanding deposits/withdrawls, but when I start this month it is appearing. I have check start and end dates for both months and they are correct.  Do not show corrections is not ticked.  GL is accurate for amounts.  I have no clue how to resolve this. 

Thanks 

Jeanne