The balance sheet figure for bank accounts does not match the general ledger. Unable to reconcile the bank accounts. All transactions are allocated and all reports on cash basis. When you click on the balance sheet item to see the detail the closing balance is as it should be but it is not reporting the same figure. Can someone please advise how to fix this.
Thanks
Hi
I suggest the first thing to do is to reconcile your bank account.
If you reconcile you will be able to see where the error is
Forninstance I had. Petty cash cheque that was drawn on 30/6 but not cashed at the bank until this week
hence I reconciled my bank account perfectly - but I knew there was an outstanding cheque so the balance sheet is different to the reconciliation report but the same as the gl
Once you manually reconcile your bank you will see if there are some additional transactions or perhaps some omitted transactions
See if that provides some answers before you start digging deeper
Lisa
Thanks Lisa
Its not the bank rec there is nothing outstanding, it just doesn't seem to recognise some of the transactions.
The balance sheet report does not balance. The general ledger looks fine, something has gone astray perhaps with the upgrade
