Balance Sheet Error - Please Help
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Balance Sheet Error - Please Help
We have PC Version 9. We still hand write checks. My check book balances with the bank statement. When I "reconciled bank accounts" in PC, it balanced. However, my check book and my total on the balance sheet in PC do not match. Can anyone tell me where to begin looking to find the error? I would greatly appreciate any help!
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Zorak
- Tech Support
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- Joined: Thu May 13, 2004 9:59 am
- Location: PowerChurch Software
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If the "Reconcile Bank Accounts" balances to zero, that is what you are aiming for.
This is because PowerChurch Plus deducts the money from your account balances the moment a check is posted, whereas in the real world it takes time for the transactions to clear the bank.
The purpose of the bank reconciliation process is to generate a virtual or "adjusted" balance in PowerChurch Plus to meet the bank statement balance. This is necessary because the Balance Sheet balance will most likely never equal your bank statement balance.
This is because PowerChurch Plus deducts the money from your account balances the moment a check is posted, whereas in the real world it takes time for the transactions to clear the bank.
The purpose of the bank reconciliation process is to generate a virtual or "adjusted" balance in PowerChurch Plus to meet the bank statement balance. This is necessary because the Balance Sheet balance will most likely never equal your bank statement balance.