Skip to main content

Trouble Shooting an Un-Reconciled Statement

Trouble Shooting an Un-Reconciled Statement​

Trouble Shooting an Un-Reconciled Bank Statement

3073

Image Description

The Open Account dialog for account 60415 - Legal Fees, showing the Account Details tab. The left navigation panel lists sections: Account Details (selected), Balances & Budgets, Transaction History, Orders, and Attachments. The toolbar shows buttons for Save & Close, Copy, Paste, Print, Find, Delete, Up, and Down. The Details section shows Account Type as Expense Account, Account Title as Legal Fees, Account Number as C045, Account Group as Administration Expenses, Consolidation Account as None, External Code field, and Usual BRT Category. A dropdown for "In the CashFlow Forecast" shows options including "Accrue to monthly payments", "Accrue to bi-monthly payments", and "Accrue annual payments". An Allocations section is shown on the right.

Having reconciled all the items on the Bank Statement and you find that there is still a difference to reconcile, try the following steps.

  • Change Reconciliation Date

    Select X to Save and Close. Go back to the first screen and change the reconciliation date to the month end. With versions of ABM earlier than 2.00 the date of the posting to the Ledger account may not coincide with the actual Receipt/Payment date. Therefore, changing the date to the month end date should overcome this.

  • Ensure the Statement Balance has been Entered Correctly

    Check the figure on the statement and ensure it matches or is before the reconciliation date entered. If the balance is overdrawn, then you need to prefix the balance with a minus sign. Example: Balance 1000.00 OD should be entered as -1000.00

  • Ensure all Items on the Statement have been Presented.

    A good idea is to tick the item on the statement as you present the transaction in ABM. By doing this you can ensure that you have presented each item correctly, and you have picked up all charges on the statement that have not been previously entered.

  • Look for the Amount on the Statement

    Look through the statement to see if the Difference to Reconcile is represented by a similar amount on the statement. If the amount is not found, then divide the amount by 2, and look for this figure. By doing this you can check to see if a payment,receipt or transfer has been entered the wrong way. Example, if you transferred 10,000 from one bank to another, and processed a transfer out rather than a transfer in, then the 10,000 would appear on the Credit side on your statement, but the Debit side in ABM, and the difference to reconcile would be 20,000.