Sage Last Reconciled Balance Incorrect Or Changed Issue
Sage can be considered as one of the most popular accounting software which helps every business owner whether it is small or medium-sized. Sage also helps you to Reconcile The Balance as well as Reconcile Bank Account Sage 50, to do the same you need to follow the below points mentioned. The ReconCileBooks helps you to reconcile the balance in sage. You need to just follow the below steps and it will be done. For further help, you can also visit ReconCileBooks for the step by step guide with the help of the experienced and professional sage technicians also find out ways to fix Sage Balance Sheet Not Balance issue.
Steps To Resolve End Reconciled Balance Wrong Sage 50 Pro, Premium, Quantum
Why And How Last Reconciled Balance Changed In Sage 50
In sage 50 if the last reconciled balance has changed since the last bank reconciliation, and it may be for the following reasons:
- The reconciled transaction is deleted
- Bank reconciliation flag has been removed from a transaction which is canceled
- The value of a reconciled transaction has been edited
- Some additional transactions have been reconciled
- The reconciled transaction has been sending to some other bank account
- Opening balance has been posted to a bank account
You need to correct the balance or Sage 50 Delete Reconciled Transaction before you go ahead with the reconciliation.
Below are steps to check why balance has been changed
- Verify for the future reconciled transactions – Many of the users don’t know that the last reconciled balance is not dating sensitive. If you have reconciled any transactions since your last reconciliation these are included in the last reconciled balance
- Go to Navigation bar >> click on the Bank accounts >> select the related accounts
- Now click on Reports and click on Reconciled transactions >> click on Retrospective Bank reconciliation BANKSTATRECD and click on the Preview
- Now mention the date range from the day after the last reconciliation to 31 /12/2099 and then click Ok
If the report comes the transactions mentioned have been reconciled since the last reconciliation. If these transactions should not be reconciled then you should me un reconcile them get the full information How To UnReconcile In Sage 50.
How To Fix Incorrect Balance Sage 50
However, if no data found for the report, it means no transactions have been reconciled since your last reconciliation. Click ok and go ahead with the next section.
- Search when the balance last agreed
- Go to the navigation bar and click Bank accounts >> now select the related account
- Now click on reports > click on Reconciled transaction >> click Retrospective Bank Reconciliation- BANKSTATRECD >> click preview
- Now mention the date range from 01/01/1980 to that date on which you reconcile up to and after that click OK
- Now next step is to check that report total is the same as the last reconciled balance in the Reconcile window
- Check the balance on the report at the finishing of earlier reconciliation is the same as the closing balance on the bank statement for that specific period
if both are the same go to the next step and if both are different then work back to the earlier reconciliation till you search when the last balance agreed. Once you are done go to the next step
- Find transactions causing the difference – The point where the end balance last agreed with the closing balance of the related bank statement is the starting point. This informs us that the transactions caused difference occurred after this point. To pick out the difference you need to compare the transactions on report for that period to the related bank statement
- Make any required corrections – Once you find the difference you need to make the necessary changes. If you re-enter the transactions that were earlier reconciled then you should also reconcile them. Once it is done go to the next step
- Check the balance now agrees –
- Click Bank accounts on navigation bars and then select the related account
- Click on reports >> click on Reconciled transactions>>then click on Retrospective Bank reconciliation – BANKSTATRECD and then click preview
- Type the date range from 01/01/1980 to the date till you reconciled, click on ok then
- Now check if the report is correct
if it is correct then you can now continue with the current bank reconciliation. If it is now matching then go to the earlier section, find when the balance was last agreed and then you need to repeat the process. Sometime Reset Bank Reconciliation Sage 50 and starting from beginning will resolve issue.
ReconCileBooks covers all the issues and solution either its be First Time Sage 50 Reconciliation or even looking for steps to Sage 50 Credit Card Reconciliation.
Help To Resolve Sage 50 Reconcile Opening Balance Wrong
Hopefully, the above steps help you to resolve your query. For any assistance, you may visit ReconCileBooks or dial Sage 50 Support Number to connect with the sage team. The sage team is professional, experienced in the same domain, and having many years of experience which makes them specialized in the same field. You can also email to ReconCileBooks to get a call back from the sage 24*7 Helpline. ReconCileBooks Sage Live Chat technicians are very helpful and always ready to assist you with all the sage related issues. ReconCileBooks is a one-stop-shop for all your Sage needs.