Balance sheet not matching reconciled account balance

[tonti83]

Hi, 

My balance sheet amount as at 30/6/21 does not match the reconciled bank account amount for the same date. All transactions have been processed through the account. It is out by about $10,000 and we can't find the problem. Any suggestions?

Thank you. 

[Steven_M]

Hi @tonti83 

The Balance Sheet is made up of the balance up of all transactions in that account up to x date. The reconciliation balance of the account is, in theory, an artificial balance that is based on the transactions you have reconciled. For the most part, if you have reconciled all transactions up to that date then I would expect the balance to be the same.

Should it not be the same, I would be looking at ensuring that all transactions have been reconciled. If those transactions have been reconciled then it would be a case of running the General Ledger report and comparing that report with the Reconciliation report to see what transactions are in the General Ledger report but not in the Reconciliation report.