User Support Forum

We are undergoing an audit and a couple of questions have come up that I was hoping you could help me with:

*the auditor would like to know why - when the bank statement prints out the unreconciled checks do not print out? It only shows the items that have been reconciled so she doesn't know how to justify the bank statement to show what the outstanding checks/deposits are.

*the adjusted bank balance for each month is not equal to the balance on the Balance Sheet.
for example 12/07 bank balance = 140627.66
balance sheet = 141847.14

01/08 bank balace = 128732.24
balance sheet = 127175.89


Should these numbers equal?? Does it make a difference as to what day you print the report? All the reports match (balance sheet/fund accounting/accounting fund balance)...the trial balance sheet is good. But now that the auditor is going back over the last year and looking through things, we've noticed that all the bank balance numbers and balance sheet report numbers do not equal. What can I look at to figure out where the problem might be?

Thank you.


Have a blessed day!
Tammy Hamrick
PCv9

You can print a Check Register for a specific period and include reconciled & unreconciled items. This should satisfy the auditor.

*the adjusted bank balance for each month is not equal to the balance on the Balance Sheet.
for example 12/07 bank balance = 140627.66
balance sheet = 141847.14

01/08 bank balace = 128732.24
balance sheet = 127175.89


Should these numbers equal?? Does it make a difference as to what day you print the report? All the reports match (balance sheet/fund accounting/accounting fund balance)...the trial balance sheet is good. But now that the auditor is going back over the last year and looking through things, we've noticed that all the bank balance numbers and balance sheet report numbers do not equal. What can I look at to figure out where the problem might be?

Tammy,

The most likely the reason the total on balance sheet is not matching the total of the check register is that there is a check somewhere for a future date. The check register is the only report that works off of the transaction date, all other reports work off of the posting month. So for example if you enetered a transaction and dated it 3/31/2008 but posted it to the April 2008 accounting month, it would show on an April Balance sheet, but a March check register.

Try running the check register for 01/01/1000 through 12/31/9999. This will make sure you can see all transactions, and look for transactions that are mis-dated.

Jeff wrote:Try running the check register for 01/01/1000 through 12/31/9999.

And taking it one step further, using a from date of 01/01/0001 will catch those pesky 04/01/0820 type date problems.