I have a problem with an account reconciliation. The attached screen shot shows the Reconciliation of the Suspense Account as at June 2024. This account was zeroed in completing the financial year.
The 2 outstanding entries were adjustments done to complete that. You will see that if I ticked these 2 entries, the reconciliation would be out by $33,451.60.
The Balance Sheet shows that account with a zero balance (as it should be). What have I done?
Maybe undo the last reconciliation (at June 2025) and see if that helps.
My guideline is that bank recs are for bank accounts only.
That has not helped, nor did I expect it to.
The fact is that the Balance Sheet shows zero balance on this account, but I can't reconcile it to Zero.
Bank Recs are for any account specified as "Bank" or "Credit Card" - it is very handy to be able to reconcile a Suspense account to zero, thus clearing everything you have dealt with, and leaving the ones still to clear. I also reconcile Electronic Transactions Clearing and Undeposited Funds for the same reason.
