Bank Rec Report

Isn't there a basic bank rec report that will spell out the bank reconciliation?

I have run 1-5-0-21, but the "account current balance" at the bottom of the report is very misleading, as it reflects today's GL balance instead of the GL balance at the end of the reconciliation period (obvioulsy the GL has moved on since the bank statement balance date.  How could that ever be relevant?).

No-where are the 3 critical values displayed all in one place:

GL Balance (as of the end of the reconciliation period)

less Uncleared/open transactions (as of the end of the reconciliation period)

= Bank Stmt Ending Balance (end of the reconciliation period)

Advice?

  • 0

    Look, I don't know if this will help.  I've had that issue also and the way I've done mine is to print out the GL bank account I am reconciling.

    Report 2-4-31  I always start the period at Jan and through (month I am reconciling).   I have a hard copy GL balance as of reconciliation.

  • 0 in reply to Mike Haberski

    That is what I've been doing as well, but I end up having to print and make notes on the bank rec report showing the balancing, and then scan again for filing.  Even Sage 50 has a better bank rec report.

    The data is all there, there just needs to be better reporting that spells it out. Uncleared total, and GL balance at the end of the reconciliation period on the recon report would fix the problem.

  • FormerMember
    0 FormerMember

    Not the most elegant solutions, but I've created an Excel template for a traditional reconciliation, with ending bank statement balance, a section for Outstanding Items, and at the bottom a calculated adjusted bank balance, and a place to enter the Ending GL Balance. 

    Then during the reconciliation process in Sage 100 Contractor, after you've marked all the cleared items and are in balance, but before finalizing the reconciliation, click print Outstanding Items Only and choose to send it to Excel. From the Excel spreadsheet, copy and paste the outstanding items into your Excel Reconciliation Template and voila, you have a standard bank reconciliation report. Then you can finalize the bank rec in Sage.  If you've finalized the bank rec before you've had an opportunity to capture the outstanding items, you can immediately start a new reconciliation and  export the cleared items, and then cancel out of that newly started reconciliation without saving.

  • 0 in reply to FormerMember

    Thanks, you are right, not very elegent, but it is likely the best workaround.  Perhaps I'll log a request.  I thought I might be missing an obvious, simple solution.