Anyone frustrated with the bank reconciliation procedure?
I would appreciate any comments on this idea
Why not introduce MEMO bank statement account structure within Sage where the true Statement balance shows
Its pretty easy to import the bank statement into Sage(csv and a couple of tweaks)
I ran some free trial software to give me my unpresented cheque and uncredited lodgement adjustements
posted these to memo accounts
Bobs your Uncle!
bank statement to ledger balance on paper IN FRONT OF MY EYES!
print and reverse post clearing down memo accounts
Also i picked up a transposition error on a banking and adjusted the actual bank balance
Could the memo accounts actually be used to reconcile Sage bank accounts?
This is the area that Iam struggling with
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bank reconciliations
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brucedenney
- Site Admin
- Posts: 4633
- Joined: 28 Feb 2006, 09:56
- Sage Version: v28 UK/Europe/Africa
Re: bank reconciliations
I think you are no better off.
The sage bank rec is simplicity itself, the only annoyance was having to exit to do those odd pesky transactions, but that is cured now.
The fact that the bank rec now recreates the bank statement identically makes it impossible to have errors, the PDF history even makes it possible to fix difficult things like transactions deleted after reconciliation.
I don't see how the current system could be improved (Other than having a better/more flexible ebanking interface to do automatic bank recs with every bank.
The sage bank rec is simplicity itself, the only annoyance was having to exit to do those odd pesky transactions, but that is cured now.
The fact that the bank rec now recreates the bank statement identically makes it impossible to have errors, the PDF history even makes it possible to fix difficult things like transactions deleted after reconciliation.
I don't see how the current system could be improved (Other than having a better/more flexible ebanking interface to do automatic bank recs with every bank.
For just about anything Sage :- Discount subscriptions, pay-as-you-go support, application integration, reports, layouts, linked excel spreadsheets, analysis or any other help making life with sage easier/less time consuming Contact me.
Re: bank reconciliations
thank you for your comments
i agree 100% with all your comments BUT
it is the time it takes to physically match hundreds if not thousands of transactions
i worked for a car auction for 15 years and the volume of transactions was a nightmare especially if you missed a transposition error
my point was to concentrate on the unmatched items and treat as adjustments
anyway
thanks for youy valued opinion
i agree 100% with all your comments BUT
it is the time it takes to physically match hundreds if not thousands of transactions
i worked for a car auction for 15 years and the volume of transactions was a nightmare especially if you missed a transposition error
my point was to concentrate on the unmatched items and treat as adjustments
anyway
thanks for youy valued opinion
-
brucedenney
- Site Admin
- Posts: 4633
- Joined: 28 Feb 2006, 09:56
- Sage Version: v28 UK/Europe/Africa
Re: bank reconciliations
If you are in the hundreds/thousands of transactions then internet banking and automatic reconciliation can help a lot.
Another alternative is to do a manual bank rec of just the outstanding stuff and then having located just the outstanding items in the bank rec swap the rest out to reconcile.
Another alternative is to do a manual bank rec of just the outstanding stuff and then having located just the outstanding items in the bank rec swap the rest out to reconcile.
For just about anything Sage :- Discount subscriptions, pay-as-you-go support, application integration, reports, layouts, linked excel spreadsheets, analysis or any other help making life with sage easier/less time consuming Contact me.
Re: bank reconciliations
agreed
thank you for taking the time to reply
and your constructive comments
thank you for taking the time to reply
and your constructive comments
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