Sage 50 Bank Reconciliation Unresolved Amount

Solving the Sage 50 bank reconciliationunresolved 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 have an 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 occurs or any unresolved amount, then you needa proper investigation into the same. You can then reach out with Sage 50 support. 

How to Sage 50 Bank Reconciliation Unresolved Amount

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

Step1-Verify Relevant Elements

Here are the things that need to be opened and checked:

• Check you have written correct entries like Statement Start Date, End Date, Opening Balance, and Ending Balance
• Verify the date mentioned in the statements
• Check that 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 the entered bank fees displayed in the Expense option
• Ensure you have integrated gains like exchange, interest, and errors in the option that says Income
• Make sure that the outstanding amount matches the sum of all the unchecked items listed on the Reconciliation page.

Step 2-Check Discrepancy

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

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

See More: Sage 50 Won’t Open After Windows 11 Update

Sage 50 Value Of Discrepancy Is Negative

This signifies that the opening book balance is lower than the total of the statement opening balance and outstanding.

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In this case, the following three possibilities might occur:

• Extremely high opening outstanding
• Very low opening bank balance
• Too high a 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 means it is the sum of the 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 for the value, you need to follow the steps:
• Locate Reports, Financial,, and the 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 at the bottom
• Perform the comparison test if any content is corrupted in the bank reconciliation. Following is the test:
• Check that the ending book balance is equal to the sum of ending balance and the outstanding balance. If not found to be the same, then the difference 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 it.
• Now, if you face unresolved issues, then you can switch into the next duration by 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.

Know More: Upgrade SAGE 50 Old Version to Latest Release 2024

Negative Balance Sage 50 Reconciliation

The following are the major reasons behind the negative and positive unresolved amounts:

• 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 the 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 the reconciliation window
• The end date of the invoice is wrong

Check the above-given possibilities and then make the proper adjustments if found the core of the issue.

Follow the instructions:

• Do the adjustments during the bank reconciliation period
• Once done adjustment then you have to reset the bank reconciliation
• Check, you have cleared 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 brought you a step closer to beginning troubleshooting. If you face any difficulty understanding any step mentioned in the topic or need any other assistance, then reach the +1347-967-4079 ReConcileBooks telephone number. Apart from this topic, you can also explore knowledge on the other components of Sage 50, including reconciliation of invoices, amounts, and more. You can mail your queries or do a Sage 50 Live Chat with the experts for instant assistance.

Frequently Asked Questions

Q. What is Sage 50 Bank Reconciliation?

Ans. Sage 50 Bank Reconciliation is a feature of Sage 50 accounting software that helps you match your bank transactions with those recorded in your accounting records to ensure accuracy.

Q. What is an Unresolved Amount in Sage 50 Bank Reconciliation?

Ans. An unresolved amount is a difference between the bank statement balance and the Sage 50 account balance that cannot be accounted for by any of the reconciled transactions. It represents a potential error or discrepancy in the accounting records.

Q. How Do I Find the Unresolved Amount in Sage 50 Bank Reconciliation?

Ans. The unresolved amount is usually displayed on the Bank Reconciliation screen in Sage 50. If it is not displayed, you can calculate it manually by subtracting the Sage 50 account balance from the bank statement balance.