Bank Recon problem.

SUGGESTED

On the right side of the Reconciliation Summary my adjusted Bank Balance is 8 cents more than my GL balance. On the left side the Cleared Balance equals the Bank Balance. 8 cents is immaterial but how do I get this to equal?

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  • 0 in reply to DeeDee Heyne

    I don't have the data in front of me but something was entered in 2 places that should have been the same amount, but it differed by .08.  I think I need to do a Journal Entry that does post to GL.  Doing it this way will not produce an entry on the Bank Recon process and therefore will just force the GL balance to equal the bank balance.  I don't care where the 8 cents goes.  Do you concur that a plain JE will do the trick?

  • 0 in reply to toddreg

    Yes - It is important to know where the 8 cents goes though - It could be something on a deposit ticket or a JE that was done to post off site payroll, etc.  you would make the Journal entry to debit the cash GL account and credit whatever account is correct for the error.

  • 0 in reply to DeeDee Heyne

    Thank you for the help.

  • 0 in reply to toddreg
    SUGGESTED

    Toddreg-

    If you are not reconciling to the General Ledger, you will then want to compare the  CM Reconciliation Report and the GL Account Detail Report for your cash account for the same time period.  Verify that all items on the reconciliation have been posted to the GL cash account, and that all items in GL were posted to the bank reconciliation.

    For more information regarding reconciling your cash account you can refer to our Knowledge Base article and link :  How to reconcile your cash account .

    Once you find the item causing you to be out, if you are unsure how to correct, then I would recommend working with a support analyst for additional troubleshooting.  They can tell you what options you have for the transaction you found. You can open a case using Help, Live Chat from within the program. 

    Sincerely,

    Coleen