Sage 50 Bank Reconciliation Unresolved Amount

Unresolved Amount In Sage 50

Solving Sage 50 bank reconciliation  unresolved amount mystery seems difficult if you have incomplete guidance on it. It is a general problem found in Sage 50 that the majority of users suffer from. If you have verified missing entries and still there occurs unresolved amount in the bank reconciliation journals then you need to match the accounts appearing in the bank statement with the opening balance statement. This article is rounded up with relevant information on Sage 50 bank reconciliation unresolved amount.

Why Unresolved Amount Issue Come Reconcile Sage 50

The main objective of bank reconciliation is to verify the account-related data entered in the bank statements. Thus whenever there occurs any discrepancy issue or receive any un-resolved amount then you need proper investigation on the same. You can then reach out with Sage 50 support

How To Resolve Unresolved Amount Reconciling Sage 50

Step-by-step resolutions to quickly fix Bank reconciliation unresolved amount:

Step1-Verify relevant elements:

Here are the things that need to open and check:

  • Check you have written correct entries like Statement Start Date, End Date, Opening Balance, and Ending Balance
  • Verify the date mentioned in statements
  • Check all the transactions are properly recorded in Sage 50 
  • Monitor, you have cleared the transactions that display in your bank statement
  • Check the balance and entered bank fees displaying in the Expense option
  • Ensure you have integrated gains like exchange, interest, and errors in the option which says Income
  • Make sure that the outstanding amount must match with the sum of all the unchecked items listed on the Reconciliation page.
ReConcileBooks also gives extended details How To Reconcile Credit Card In Sage 50 step by step .

Step 2-Check discrepancy:

The formula for solving Discrepancy includes the opening book balance minus the sum of statement opening balance and opening outstanding balance. Follow the below instructions:

  • If you want to check the value for the opening outstanding then you have to check the existing outstanding at the finale of reconciliation
  • View the balance appears on the beginning line located on the top which is called opening balance
  • Hit on OK
  • Choose the account
  • Apply the start & finish dates matching with bank reconciliation date
  • Click on Reports, General ledger, or Reports.

Sage 50 Value Of Discrepancy Is Negative

This signifies that the opening book balance is lower than the total of statement opening balance and outstanding. In this case, there might occur following three possibilities:

  • Extreme high opening outstanding
  • Very low opening bank balance
  • Too high statement opening balance

Sage 50 Value Of Discrepancy Is Positive

It represents that the opening book balance is higher than the total of opening outstanding + statement opening balance. There also occur three conditions i.e. too high opening balance, low opening outstanding and low statement opening balance.

Step 3-Verify the unresolved amount:

  • If you found unresolved that’s mean it is the sum of statement end balance and ending outstanding minus the ending book balance amount
  • The ending outstanding represents the outstanding amount you can view on the base of the bank reconciliation window
  • Ending book balance: To search the value you need to follow the steps:
  • Locate Reports, Financial and afterword General ledger
  • Adjust the Start and ending dates similar as written to the bank reconciliation dates
  • Choose the amount 
  • Hit on Ok
  • You can view the balance located on the bottom
  • Perform the comparison test if there found any content corrupted in the bank reconciliation. Following is the test:
  • Check the ending book balance is equal to the sum of ending balance and outstanding balance. If not found same then that difference occurs between them is known as the unresolved amount
  • If the amount seems the same and there still exists a discrepancy amount that means the bank reconciliation table consists of corrupted data and there is a need to reset the same.
  • Now if you face unresolved, then you can switch into the next duration through receiving an auto-generated journal entry.
  • This option is not suggested through Sage because of future complications
  • Resolve the found unresolved values i.e. either negative or positive unresolved

Negative Balance Sage 50 Reconciliation

Following are the major reasons behind negative and positive unresolved amount:

  • High ending balance:
  • It is due to several debit entries, missing credit entries, matching withdraw field is not checked,
  • Need modification on the voided credit transaction and more.
  • Low ending balance:
  • Missing outstanding Cheques like journal revenue cheque
  • The amount is incorrect 
  • Wrong posted dates
  • The end date is not correct
  • Low Statement ending balance:
  • This is a bank-related issue
  • Data entries mistakes
  • Duplicate entries
  • Date mismatches
  • The wrong filled ending balance amount in reconciliation window
  • The end date of the invoice is wrong

Check the above-given possibilities and then set the proper adjustments if found the core of the issue. Follow the below instructions:

  • Do the adjustments during the bank reconciliation period
  • Once done adjustment then you have to reset bank reconciliation
  • Check, you have clear the credit receipt if not clear it 

Help Unresolved Amount Problem Sage 50 Pro, Premium , Quantum

Hope the above article gave you clarity on the Sage 50 bank reconciliation unresolved amount and bring you a step closer to begin troubleshooting. If you face any difficulty to understand any step mentioned in the topic or need any other assistance then reach the +1844-640-1481 ReConcileBooks telephone number. Apart from this topic, you can also explore knowledge on the other components of Sage 50 including reconciliation of invoices, amount, and more. You can mail your queries or do a Sage 50 Live Chat with the expertise for instant assistance

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