change starting balance

[JohnDMeyers]

To undo:

CR checking 15678.14
DB equity 15678.14

[Jesjul]

the difference between the deposits and the withdrawals from the bank is 3830.05 which is the amount to be balanced at the bank reconciliation. do i have to make an entry for this.

i know i am taking much of your time but i do not know who to ask so please bear with me. God bless you!

[JohnDMeyers]

Yes, you have to make an entry. I'm not sure what is the best way for you to do it. One of the two accounts has to be the checking account. I don't know if you need to CR or DB checking.

Here are some suggestions:
CR or DB checking
DB or CR some expense

CR or DB checking
DB or CR equity

I hope you can get it to balance, even with all these extra entries. My hope is that next month, it will work correctly, without all the extra trouble.

[KarinK22]

our ADJUSTED bank balance on the reconciliation report is always showing DIFFERENT than that of the actual GL balance
The outage is $3419.39

Our reconciliations are complete - they show Difference of 0.00

How do we change this so that our recon shows the same account balance as what is actual.

I've tried to enter an adjustment, but we can't clear that entry (when reconciling) bc then the reconciliation report shows a difference of that amount- b/c it did not actually go through the bank!

I literally need to adjust the starting balance of JULY (new fiscal) is there ANY WAY to do this??

[NeilZ]

our ADJUSTED bank balance on the reconciliation report is always showing DIFFERENT than that of the actual GL balance
The outage is $3419.39

Our reconciliations are complete - they show Difference of 0.00

How do we change this so that our recon shows the same account balance as what is actual.

I've tried to enter an adjustment, but we can't clear that entry (when reconciling) bc then the reconciliation report shows a difference of that amount- b/c it did not actually go through the bank!

I literally need to adjust the starting balance of JULY (new fiscal) is there ANY WAY to do this??

Are you sure that you're off by that amount? The reconciliation balance will not be equal to the actual balance as reflected on the reconciliation as that bank balance is as of the date of the Bank Statement. What does a Balance Sheet show ?

[KarinK22]

It's been the same for years.

My bank reconciliation balances to zero each month.

EG...
Statement Balance = 354,787.32
-Outstanding Chqs 126,348.50
+Outstanding Dep's 15,145.73
= 243,584.55

BUT my GL actual balance is 247,003.94 (which is also what the Balance Sheet Shows)

A difference of $3419.39

This is not making the auditors happy .... and has been like this since i started. If i post a correction, and then try to reconcile it - my rcon is then out by that much ... so then I would always need to just let this amount sit there and never get reconciled... is that what i would need to do?
I've even thought about just starting a whole new bank gl - but this is a last resort.

[NeilZ]

It's been the same for years.

My bank reconciliation balances to zero each month.

EG...
Statement Balance = 354,787.32
-Outstanding Chqs 126,348.50
+Outstanding Dep's 15,145.73
= 243,584.55

BUT my GL actual balance is 247,003.94 (which is also what the Balance Sheet Shows)

A difference of $3419.39

This is not making the auditors happy .... and has been like this since i started. If i post a correction, and then try to reconcile it - my rcon is then out by that much ... so then I would always need to just let this amount sit there and never get reconciled... is that what i would need to do?
I've even thought about just starting a whole new bank gl - but this is a last resort.

Wait ... you entered a 'fix' and it has been sitting in the system as 'unreconciled' the whole time with the reconciliation report coming out as zero?? That tells me that you should have entered the 'fix' as an OUT OF BALANCE transaction.

These are not normally recommended, but you may have to do so in order to get that 'fix' out of the system.