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• # 113063
• Fri 27 May 2016 09:16 PM

Can anyone help me with a question about a Bank Rec in Sage 50 that has not be done for a long time.  It is messy and there is no time to correct now.  If a new financial year is beginning can you adjust the bank balance somehow to reflect the opening balance on the first day of the new financial year so you can begin reconciling again in the new year.  I can only think of all those unreconciled items from last year.

Any help would be appreciated.

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• # 113174
• Sat 11 Jun 2016 08:12 PM

Janine,

Thanks for the reply I am glad someone did afterall we are here to help each other.  I think that could be a way of doing it, I have only started Sage from scratch so used an opening balance from the bank statement.  I will talk to the accountant about that one thanks for that.  

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• # 113177
• Sun 12 Jun 2016 09:44 AM

Happystudent

I think it would depend on thr size of the adjustment needed.

If it's small you could open an expense nominal in the 7900 range and use the Sage Adjust button in Bank Reconciliation to post the balancing amount. The adjustment would then be visible.

If it's a large amount I think the accountant would need more detail and you'll need to explain the difference.

Ian

• Ian

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• # 113179
• Sun 12 Jun 2016 06:21 PM

Ian thanks for your comment, it really isn't small, it is caused by the previous bookkeepers not reconciling since middle of last year, so this is a mega job for anyone would take a whole month to complete.  It might be that there needs to an adjustment to the bank balance at least I can go from here, thanks again

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• # 113210
• Wed 15 Jun 2016 01:09 PM

Hiya

I had a similar situation with a client I took on last December, only the problems were created by the accountant (who did the bookkeeping up to June 2015) not paying attention to what they were doing - posting payments through twice or posting payments to the wrong supplier accounts & then posting "missing invoices" transactions to the supplier accounts to clear the overpayments! Heaven knows how they thought they had reconciled the bank! The uncertified bookkeeper taken on in July didn't know what she was doing & was sacked in November. I managed to find most of the £18k difference but still ended up having to post a difference of £260 to a suspense account to give me the "correct" opening bank balance. I was instructed to do this by the accountant...........

See, it happens to other people too!!

Kind regards

Hazel

• Hazel

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