Top 5 Reasons Why Your Sage 300 CRE Bank Reconciliation is Out of Balance

hello my name is Olivia Romer I am a
sage 300 construction and real estate
certified consultant that tag a premier
sage partner for construction software
with offices located throughout Southern
California today I'm going to show you
the top 5 reasons why your bank
reconciliation is out of balance in my
years of a consulting for Sage 300
construction and real estate I'm
frequently asked this question why is my
bank reconciliation out of balance today
I'm going to show you the main culprits
and there are five that I typically see
that cause your bank reconciliation to
be out of balance number one your
reconciliation status on a transaction
was changed
changing the reconciliation status of an
item is the most common cause for out of
balance bank reconciliations how do you
identify whether or not this has
happened look at your bank
reconciliation report from Sage 300 you
can do it by opening up cash management
reports reconciliation bank
reconciliation if the bank statement
ending balance does not match the ending
balance of your bank statement more than
likely you have some transactions that
fall under this category first find the
last month your bank statement ending
balance in Sage 300 matches your bank
statement once you've identified the
first month you are out of balance look
at any transactions with the status of
open or cleared should any of these be
reconciled if you have verified that all
the open and cleared transactions are
correct then look through your reconcile
transactions to verify none were
reconciled and error the easiest way to
do this is to print out the
reconciliation register and compare it
to your bank statement you can do this
by running the following report go to
cash management reports registers
reconciliation Reggie
stur entering your statement date and
then it will show you all the
transactions you have reconciled as of
that cleared date if the totals on the
report matched the totals on your bank
statement then that month's
reconciliation is correct continue the
process until you reach the current
month's bank reconciliation number two a
check was voided with the future date
and reconciled look up the accounting
date of any void checks you may have
reconciled if they have been voided with
a future date unreconciled the
transactions and you should be back in
balance to do so you're going to go into
cash management tasks edit register pick
the bank account and it will display all
the transactions within that bank
account find the correct transaction hit
the ellipsis with the arrow button come
here to the reconciled status change it
from our 204 open number three you
reconciled a transaction with the future
date this one falls in line with item
number two most commonly a check is
printed with a future date but then
cashed in the previous month this can be
from date typos and checks written with
future dates and error to fix this
common problem void the check and
reissue it with the date in the current
bank reconciliation month if you do not
know the actual print date of the check
you can pull up the transaction date in
the ap check inquiry what you'll need to
do is you'll need to open up the edit
register isolate the transaction with
the future date that has been cleared
you will need to go to the ellipsis with
the arrow button and change the status
from r2o this will allow you to make any
adjustments like voiding the check and
reissuing it with the proper date number
for register balance includes unposted
entries this happens at
occasionally mostly with transactions
that were created in cash management the
easiest way to find out if this is
causing your out of balance issue pull
up the edit register and condition it to
show unposted transactions only in cash
management go to tasks edit register
pick the bank account then click on the
conditions button go to posted in the
field criteria say not equal to and then
click the check box this will display
any transactions that have not been
posted number five the accounting date
and payroll settings is set to period
end date this is simple to identify if
you have the correct security
permissions go to the payroll module
then PR settings under the accounting
date does it say period end date or
check date if it's set to period end
date you may want to reach out to your
Sage 300 construction and real estate
certified consultant to discuss whether
or not moving the posting date to check
date is a better solution for you and
those are the top five reasons why your
bank reconciliation is out of balance
never fear
most problems can be fixed in Sage 300
construction and real estate do you have
items you look for if your bank
reconciliation is out of balance if so
leave them in the comments below
want to learn more about Sage 300
construction and real estate or any of
the Sage construction software products
visit our website at www.teamclarke.org