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Bank Recon Issue

Posted: Sun Feb 10, 2008 10:07 pm
by catu32
I am working on reconciling bank accounts in PC 10.4. This hasn't ever been done so I'm basically clearing everything out in January so it will be much easier on a go-forward basis. However, I have an issue w/ the cash balance that is being shown. I have Jan and Feb months open but want to reconcile the ending Jan cash balance. The issue is that the balance that keeps showing up in the reconciliation screen is current cash (Feb 10). I have Jan as the working month and would think that the system would read that I am reconciling January. It doesn't appear that way though. Any thoughts on this or is it a limitation of the software?

Posted: Mon Feb 11, 2008 9:18 am
by Zorak
PowerChurch Plus will always be dealing with your actual posted account balance on the reconciliation screen.

What separates those transactions that were written in January from those that were written in February is the "clearing" that you do, marking those transactions that show up on the bank statement you are reconciling with.

Any transactions that are still unreconciled, or have not cleared the bank, as of the time you complete the reconciliation process are ignored, or more accurately, adjusted against the bank statement balance that you enter.

Since the system is designed to work this way, it doesn't matter when a transaction was written or posted. If your transactions are entered correctly and have a correct beginning balance in the system, you will be able to reconcile up to a $0 difference between the adjusted bank balance and current account balance.

Posted: Tue Feb 12, 2008 4:26 pm
by catu32
I was able to clear all transactions that needed to be cleared. However, I suspected and then confirmed w/ a call to tech support that the cash balance will not be shown as an effective date (i.e. if I am performing a bank recon on 02/10 and the bank statement cutoff is 01/31, my cash balance that will show in the bank rec will be cash as of 02/10). This is important to note. PC does not have the capability of going back to an effective date for bank recs, it is cash for entries that have been posted to date.

Bank reconciliation

Posted: Thu Feb 28, 2008 12:56 pm
by Joetta Trimble
The way we get around this issue is to not post anything to the new month until the bank rec has been completed.