Bank Reconcillation Sage line 50 Version 11

[anne1823]

Could anybody help I have taken over a position from somebody who retired after 15 years I had just under 3 weeks to learn all of his job they use Sage Accounts version 11 where I was using Sage MMS before.
Since April I have done the bank reconcillation each month and all was well until the Finance Director says the totals in the bank rec to the totals in Sage are different. I have only done the bank reconcillation as shown to me before they retired.
We tried to sort it out at the end of August and we thought we had done until I looked at the Opening Balance brought forward and it is different to what we reconcilled to at the end of August. I do not wont to continue as I think it would make the matter worse.

August Bank Reconcillation is as follows:
Balance per bank £150555.53
Uncleared Items £1768.90
Uncleared Items £3922.89
Balance per cashbook £144863.74
This cashbook balance was correct with the Trial balance for August.
I have gone into the bank reconcillation today and it says that the opening balance is £146641.23 if you take this away from the £144863.74 it gives you a difference of £1777.49 just found a recurring entry of £8.59.so this make this difference of £1768.90 and if you take the £146641.23 away from the £150555.53 it makes the difference of £3914.30 which again has the recurring entry of £8.59.

We then decided to split the bank accounts into the current account only;
September Reconcillation is as follows:
Balance per Bank £4556.09
Uncleared items £3006.20
Balance per cashbook £1549.89
The only way I can get September to balance is if I reconcile all the items including the uncleared ones.

If anybody could help me sort this problem out I would be most grateful.
Anne

[brucedenney]

1/ Upgrading to the latest version improves the bank rec A LOT, it keeps a record of what you have reconciled and assuming you do it right it is a mirror image of the bank statement.

2/ watch out for future dated stuff, Sage is OPEN ITEM accounting and that trips up a few people, the balance on the acocunt on the screen is not the balance on the account at the financial period end if there are future dated transactions.

Sounds like you might not have been shown how to do the bank rec correctly.

I would get your boss to spring for some Sage 50 training.