Troubleshooting Bank Reconciliation
Often, transaction dates differ from posting dates, which means the bank reconciliation report doesn't match the balance sheet.
The Bank Account Reconciliation Mismatch Report highlights common reasons why the bank balance (on the balance sheet) doesn't match the calculated book balance (in bank reconciliation).
This report lists:
- Transactions that display in bank reconciliation but not on the balance sheet.
- Transactions that display on the balance sheet but not in bank reconciliation.
- Transactions where the balance sheet's amount doesn't match the bank reconciliation's amount. For example, a check that debits a checking account or deposit that credits a checking account. Transactions using checking accounts for one bank but different bank accounts.
To access this report, when reconciling transactions, click Balance Sheet Mismatch Report.
Incorrect Dates in Bank Reconciliation
If your beginning date is incorrect in bank reconciliation, this does not impact the reconciliation as long as the items that cleared are correctly marked.
If the end date is incorrect, you can correct the start date in the next reconciliation. When you do this, a message about changing the start date displays. You can accept the message as long as it does not bring back entries that were cleared in a previous reconciliation.