reckon Accounts home & Business - Business acount not reconciling correctly

kmoulds

I created a Business Account at the beinging of Oct 2013. It is a non GST account. Today (20140115) I tried to reconcile the account for the month of Oct 2013. The ending balance gave a (-) minus balance. I do not know what I've done wrong. Expense are in the exp Charge colum and income is in the "payments" column. The "Balance" showing in the "Balance" column of the account is correct. I'm stumped but I bet it is a simple thing I've done wrong. Any help would be greatly appreciated. Thanks Kym. P.S. I can supply screen dumps if necessary.

Jamaiel_6490508

Hi Kym,


Welcome to Reckon Community!


With regards to your query, before anything else, ensure that you made a backup of your file prior to making any changes.

As you mentioned column headers Ch?arge and Payment, the account you are referring to is a Credit Card type. In using this, the Balance will be coloured RED to indicate that it is a negative balance. During reconciliation, if the balance is in red, you only need to place the amount without the negative (-) symbol for the Ending Balance as it is understood.

If you placed a negative amount on the Ending Balance, it will add up the balance and may need to create a new transaction for Balance Adjustment.


Hope it helps!


Kind Regards.

Jamaiel

kmoulds

Thanks fopr your reply Jamaiel but I really don't want to have to make an adjustment entry when I reconcile the account. I've obviosly done something wrong either in setting up the Business Account or the way I he entered the transactions. That is wnat I want to discover so I can go in and if necessary redo the transaction so it reconciles like my other home accounts. Cheers anyway.

Jamaiel_6490508

Hi Kym,


Sorry for not being clear. Can I confirm if the account you are referring to is a Credit Card Type? or a Bank Chequing or Savings?

During reconciliation, a Statement Summary window will appear asking for the Charges, Payments, and Ending Balance. Pertaining to the Ending Balance, did you enter a positive or a negative amount?

Please note that regarding about the "Adjustment" mentioned earlier, this is an automatically created transaction to force the account to balance when the Ending Balance manually entered is different from what is displayed on the register.


Kind Regards,

Jamaiel

kmoulds

Gid day Jamaiel and thanks for ytour reply. The Account details show that the Account Type is "Credit" and Account Location is "Business Credit". In answer to your sencond question YES the reconciliation asked for Charges, Payments etc. In the Ending Balance I put in a + amount as there was funds in the account. I beleive that I may have created the account incorrectly and that is should be Account Type "Bank" and Account Location "Business Spending". However, I do not know how to change it as the options are not available in the pull down menus in the Account Details Box. Any other suggestions gratefully accepted. I can provide screen dumps of the Account Details page or any other page if that helps.

John G

Hi Kym,

Thanks for the update.  Jamaiel is unavailable today so I am happy to help you out.  

Assuming you need a Bank account, the current Credit account cannot be changed to a Bank account, so you will need to create a new account as a Bank.  

Next, you will need to re-assign the transactions in the Credit account to the Bank Account.  When the Credit account is empty you can then delete it.  

Before making any changes to your file I suggest you create a backup so that if things go wrong or you change your mind you can come back to this starting point.  

Hope this gets you back to where you want to be.

Regards,
John.