Reconciliation problem

[bjsbrown65]

Help please - started PC late in January. When setting up, there were 12 outstanding checks but the treasurer only gave me 2 outstanding which were entered in setup. Although the other 10 were not entered as outstanding, she did consider they were outstanding when she gave me the bank balance. Finished entering for Jan. In trying to reconcile the first statement, have checked, double checked and more and the outstanding checks at the end of January are correct, the cleared checks are correct, the deposits are correct, the outstanding deposits are correct and there is no where else that I know of to find an error. The reconciliation is off by 5280.80, the difference between the adjusted bank balance and the account 1110 balance. The total of the 10 checks which were not entered as outstanding in setup total 2800.46; and the total of the 2 checks that were entered in setup total 201.91 if these have anything to do with the error. How do I fix this? Thanks.

[NeilZ]

Help please - started PC late in January. When setting up, there were 12 outstanding checks but the treasurer only gave me 2 outstanding which were entered in setup. Although the other 10 were not entered as outstanding, she did consider they were outstanding when she gave me the bank balance. Finished entering for Jan. In trying to reconcile the first statement, have checked, double checked and more and the outstanding checks at the end of January are correct, the cleared checks are correct, the deposits are correct, the outstanding deposits are correct and there is no where else that I know of to find an error. The reconciliation is off by 5280.80, the difference between the adjusted bank balance and the account 1110 balance. The total of the 10 checks which were not entered as outstanding in setup total 2800.46; and the total of the 2 checks that were entered in setup total 201.91 if these have anything to do with the error. How do I fix this? Thanks.

Sometimes you need to let it go for a few months to get ALL the checks through the bank to see exactly how far off you're really at. Do a complete backup, finish the January reconciliation and accept that result. Then do February's and see what happens.

[bjsbrown65]

what if it doesn't clear up within 2-3 months. I won't be able to restore since there will have been so much added since then. Thank you.

[NeilZ]

what if it doesn't clear up within 2-3 months. I won't be able to restore since there will have been so much added since then. Thank you.

You should have received your February statement by now ... that said, if you haven't found it by the end of the February reconciliation, then you really need to verify that the starting balance that was given to you was correct even with the uncleared checks.

[Matt]

From what you are describing the beginning balance the treasurer gave you was incorrect. In order to get the reconciliation for January to balance you will need to enter and post an adjustment for the $5,280.80. The offsetting debit/credit should go to the Unrestricted Net Assets (3110) account, since this adjustment is really a beginning balance adjustment.

I would also recommend that you get with your treasurer and try to figure out why the beginning balance she gave you and the true beginning balance as calculated by the bank reconciliation was off by $5,280.80.