User Support Forum

Hello all!
I have just entered the first month of transactions & payroll. When I am now trying to reconcile with the statement, I keep showing a significant amount as unbalanced between "adjusted bank balance" and "account 1110 balance" (our main CHQ account).
How can this be? I went over the statement many times and have redone the whole month. Cannot balance...
Thanks for any tips!

I have a thought.

1) make a backup of where you are currently at
2) restore a backup from before the reconciliation

Make sure you and the bank agree before starting the reconciliation. In other words, if you don't start at a zero difference, you won't be able to reconcile.

If you do start with a zero difference, and you are off, and you have the exact deposits, fees, and checks as the bank, it must be something fouled up with the outstanding checks and deposits from the setup wizard.

"Make sure you and the bank agree"
If you mean: make sure the bank statement numbers (balance of the date used for reconciliation) are correct: They are.
How can I delete outstanding cheques entered in the wizzard? Any other ideas how to resolve the issue?
Thanks!

I think you already had the right idea, but I'll answer it here.

If you entered an outstanding check for $100 and needed to "erase" it.

DB 01-1110-000 checking $100
CR 01-3110-000 net unrestricted assets $100

Martin emailed me his reconciliation report.

The amount to balance, $7,263.67 was identical to the amount of outstanding checks entered during the setup process.

That means that the beginning balance already included (or accounted for) those checks.

To correct:
DB 01-1110-000 checking $7,263.67
CR 01-3110-000 unrestricted net assets $7,263.67

Post, reconcile, done.