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?
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.
Maybe undo the last reconciliation (at June 2025) and see if that helps.
My guideline is that bank recs are for bank accounts only.
