User Support Forum

I was doing the reconciliation, and the check register matched the ending balance with the bank. However, the balance sheet on Power Church is off by exactly $2,619. I found 3 voided checks that I cleared in the reconciliation screen. The problem is that it the total is not being reflected on the balance sheet. So after clearing the voided checks I am still off $2,619. What am I doing/not doing wrong?

I just noticed that some checks were written in March and voided in May. What does that change?

I'm not sure it has anything to do with the voided checks, unless the voided checks totaled $2,619.00.

If you have a reconciliation difference of zero, you are good through that statement date.

If the balance sheet is off, it is due to some error yet to be uncovered when you enter a newer statement date.

Have patience. It will become clear when you do subsequent reconciliations. (and it won't be clear unto you do!)

Just a couple of questions and forgive me if they sound too obvious and you've already done all these things:

1. Did the reconciliation reconcile everything to zero?
2. If not, was it the total of the voided checks?
3. Did you clear the voided checks in both the "Deposits and Other Additions" portion and in the "Checks and Other Deductions" portion?
.

beas wrote:Just a couple of questions and forgive me if they sound too obvious and you've already done all these things:

1. Did the reconciliation reconcile everything to zero?
2. If not, was it the total of the voided checks?
3. Did you clear the voided checks in both the "Deposits and Other Additions" portion and in the "Checks and Other Deductions" portion?
.

1. the reconciliation reconciled to zero. Everything on our books was equal at that time except the balance sheet.
2. The total of the voided checks was the amount of $2,619. That is why I think the problem is the voided checks, but nothing with make the balance sheet equal the reconciliation.
3. I voided the checks out in the "PAYABLES" module, and cleared them on both sides of the reconciliation. I don't know how to correct the balance sheet.

Thanks for all the replies guys

cOdY wrote:

beas wrote:Just a couple of questions and forgive me if they sound too obvious and you've already done all these things:

1. Did the reconciliation reconcile everything to zero?
2. If not, was it the total of the voided checks?
3. Did you clear the voided checks in both the "Deposits and Other Additions" portion and in the "Checks and Other Deductions" portion?
.

1. the reconciliation reconciled to zero. Everything on our books was equal at that time except the balance sheet.
2. The total of the voided checks was the amount of $2,619. That is why I think the problem is the voided checks, but nothing with make the balance sheet equal the reconciliation.
3. I voided the checks out in the "PAYABLES" module, and cleared them on both sides of the reconciliation. I don't know how to correct the balance sheet.

Thanks for all the replies guys

FWIW .. if the bank reconciliation comes out to zero, then the reconciliation is fine. The voided checks balance out each other. This is not the cause of the balance sheet problem. Don't try to equate the two, they are two separate things.

Thank you, NeilZ. I was told they should always equal, so I was trying to figure out how they were off. Thanks again!!

Each transaction has to have a posting date and a posting month. You could have a transaction dated oddly like say 12/15/2104 and post it to the month of March 2014. It will affect the March 2014 balance sheet but not the check register for several more years as it goes by date!

Or you could have a transaction dated 12/15/2013 but posted to March 2014. It will affect the balance sheet IN March 2014 but would affect the check register 12/15/2013. You would see it on the check register but not the balance sheet until March.

The balance sheet accounts for transactions by the month it was posted to not by the date. If you have something with a posting date of say 3/15/2014 but the posting month is May, it will affect the balance sheet for May but affect the check register (it looks at date not month) in March. Possibly this is what happened? The voids were posted to a different month than they were dated or they were posted to a month you aren't running for yet?

As the others said, reconciling to zero is desirable. That means that the information in the program agrees with what is happening at your bank. Beyond that, many of the reports, balance sheet, income and expense, etc are affected by the posting month.

Hope this helps.