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Trade Debtors/Creditors Reconciliation Summary showing out of balance

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gbun
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Papua New Guinea
gbun
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Trade Debtors/Creditors Reconciliation Summary showing out of balance

Hi, 

 

How can I reconcile my trade creditors/debtors if its giving me an out of balance on the reconciliation summary?

 

Thank you,

 

Gorry 

4 REPLIES
Super Partner Julia_Berkhout
282 Posts
Super Partner
Julia_Berkhout
Super Partner

282Posts

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Re: Trade Debtors/Creditors Reconciliation Summary showing out of balance

Hi Gorry,

To trouble shoot I usually run the report about 2 years ahead and see if it's resolved and work back from there to when it goes back to being out of balance. This isolates your key dates.

Find the transaction/s which add up the the amount out of balance on the date the error occurs. Go into them and recap transaction to make sure everything is going to the right accounts, then go to their history and check the date the payment was applied. I'm guessing you might find that someone entered a payment on a future date.

 

 

Julia Berkhout
MYOB Certified Consultant
Jewels Business Support
Roleystone Perth WA
info@jewelsbizsupport.com.au
gbun
3 Posts
User
Papua New Guinea
gbun
User

3Posts

0Kudos

0Solutions

Re: Trade Debtors/Creditors Reconciliation Summary showing out of balance

Hi Julia, 

 

Thank you for the reply. I've tried that a couple of times but it still doesn't work out. I have identified that a Finance Charge is causing an out of Balance. That's for September 2017. The balance is brought to October. And again in October the out of balance figure increases. I later figured it out that the out of balance is coming from the cash sales. 

 

All I want is a zero in the out of balance. How can I treat the finance charges and the cash sales so it becomes zero? 

 

This also applies to the payables as well. 

 

Thank you

Super Partner Julia_Berkhout
282 Posts
Super Partner
Julia_Berkhout
Super Partner

282Posts

66Kudos

42Solutions

Re: Trade Debtors/Creditors Reconciliation Summary showing out of balance

hi,

finance charges are usually generated when a payment is not applied to an invoice correctly.

You will need to have a close look at both sides of the transaction and redo correctly.

If you are not sure please get your bookkeeper or accountant to help you.

Julia Berkhout
MYOB Certified Consultant
Jewels Business Support
Roleystone Perth WA
info@jewelsbizsupport.com.au
gbun
3 Posts
User
Papua New Guinea
gbun
User

3Posts

0Kudos

0Solutions

Re: Trade Debtors/Creditors Reconciliation Summary showing out of balance

Hi Julia, 

 

Thank you for the reply. 

 

I will do as instructed. 

 

Gorry

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