Correcting Beginning Bank Balance

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StPaulUCC2
Posts: 26
Joined: Fri Feb 25, 2022 6:13 pm

Correcting Beginning Bank Balance

Post by StPaulUCC2 »

I started using PowerChurch 14 in January 2022. I have only entered data for January so far as I am in learning mode. I got to the point of reconciling and I discovered that I entered an incorrect check register balance when I did the account setup. How do I correct this?

NeilZ
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Location: Dexter NM
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Re: Correcting Beginning Bank Balance

Post by NeilZ »

StPaulUCC2 wrote:
Tue Jun 07, 2022 9:50 pm
I started using PowerChurch 14 in January 2022. I have only entered data for January so far as I am in learning mode. I got to the point of reconciling and I discovered that I entered an incorrect check register balance when I did the account setup. How do I correct this?
You would have to create an transation in Funds Accounting to add or subtract the amount that is off. However, before I go through all that, why do you think the beginning check register balance was off?

You did use the REGISTER balance as of January 1st, right?
Neil Zampella

Using PC+ since 1999.

StPaulUCC2
Posts: 26
Joined: Fri Feb 25, 2022 6:13 pm

Re: Correcting Beginning Bank Balance

Post by StPaulUCC2 »

When I do the reconciliation it balances but under items cleared deposits & additions it includes the amount of the beginning check register balance that I entered. If that amount wasn't included everything would be correct. Was thinking that during accounting setup I should have left the balance at zero. Or maybe I'm doing something wrong in the reconciliation process.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Correcting Beginning Bank Balance

Post by NeilZ »

StPaulUCC2 wrote:
Wed Jun 08, 2022 10:15 am
When I do the reconciliation it balances but under items cleared deposits & additions it includes the amount of the beginning check register balance that I entered. If that amount wasn't included everything would be correct. Was thinking that during accounting setup I should have left the balance at zero. Or maybe I'm doing something wrong in the reconciliation process.
So if you don't check off that item, the bottom line of the reconciliation shows 0.00 ??
Neil Zampella

Using PC+ since 1999.

StPaulUCC2
Posts: 26
Joined: Fri Feb 25, 2022 6:13 pm

Re: Correcting Beginning Bank Balance

Post by StPaulUCC2 »

With it checked as 'cleared' the bottom line of the reconciliation shows $0.00. If I uncheck it the beginning check register shows as the amount I need to balance. The more I think about it seems that I am just having trouble understanding that in the column headed "Items you have cleared" under "Checks and Subtractions" the amount is correct. The amount in the box for "Deposits and Additions" has the beginning check register amount added to the deposits I entered. Maybe that is correct. Hope what I'm trying to say makes sense to you. Thanks for being patient with me and responding so quickly. Once I make sure I understand the reconciliation I will be ready to enter the data for Feb. thru June.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Correcting Beginning Bank Balance

Post by NeilZ »

StPaulUCC2 wrote:
Wed Jun 08, 2022 11:33 am
With it checked as 'cleared' the bottom line of the reconciliation shows $0.00. If I uncheck it the beginning check register shows as the amount I need to balance. The more I think about it seems that I am just having trouble understanding that in the column headed "Items you have cleared" under "Checks and Subtractions" the amount is correct. The amount in the box for "Deposits and Additions" has the beginning check register amount added to the deposits I entered. Maybe that is correct. Hope what I'm trying to say makes sense to you. Thanks for being patient with me and responding so quickly. Once I make sure I understand the reconciliation I will be ready to enter the data for Feb. thru June.
If the reconciliation comes out with a To balance amount of 0.00 at the bottom, that means you have a good reconciliation. Frankly, you have to CLEAR that initial balance even though it doesn't show up on the bank statement.

You'll also see that if you have to void a check, you will have to 'clear' it from both the additions and deductions as the additions will show the reversal or void, and the deductions will show the original check. They will then cancel each other out.
Neil Zampella

Using PC+ since 1999.

StPaulUCC2
Posts: 26
Joined: Fri Feb 25, 2022 6:13 pm

Re: Correcting Beginning Bank Balance

Post by StPaulUCC2 »

Well, the light bulb just came on! After looking at this again I realize that my reconciliation is correct. For some reason I was getting confused about the beginning balance being added in as a deposit. So sorry to have taken up your time and I REALLY appreciate all you help. Thanks!

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Correcting Beginning Bank Balance

Post by NeilZ »

StPaulUCC2 wrote:
Wed Jun 08, 2022 12:03 pm
Well, the light bulb just came on! After looking at this again I realize that my reconciliation is correct. For some reason I was getting confused about the beginning balance being added in as a deposit. So sorry to have taken up your time and I REALLY appreciate all you help. Thanks!
Not a problem .... some reconciliations can be confusing as the transaction is not showing up on the bank statement. Some examples: 'initial balance' and voids/reversals as I mentioned above.

Its just part of the short learning curve :)
Neil Zampella

Using PC+ since 1999.

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