Bank Balance from Bank Rec doesn't equal Balance sheet
The bank reconciliations balance to bank statement,
The transactions reports balances, but when I run a Balance sheet it showing a different value.
Some $235,100.91 out.
I have run quite a few different reports, tried to find this amount and I am now lost to why it is showing different values.
Bank rec at 30.6.2020 is showing correct. when I do previous Bank rec and display 31.07.20 it shows the correct balances, then if I do a Balance sheet for the 31.07.2020 it is out this amount $235k and it rolls over every month. When I printed Dec 2020 balance sheet, which I have a hard copy it didn't show any variance.
Total confused why this is happening.
Any help would be appreciated.
Comments
-
Hi. The first thing I would check is if any cleared transactions have had the wrong date entered. For example, a transaction cleared for the bank rec at the end of January 2021 had a date accidentally entered as Jan 2020.
1 -
Are you running the Balance Sheet set to Accrual and net?
2 -
Running the balance sheet as Cash = the current bank statement
running the balance sheet as accruals = showing the difference of 235K overdrawn,
this is reflected in retained earnings and I cant find it still :(
Thanks for you help
0 -
Did you check also to see if reports are set to Net not Gross
0 -
Retained earnings is usually for old balances that were entered when the file was first begun, or previous yearly P & L net balances I’m happy to have a look at it. Give me a call if you wish. O415940843
0
Categories
- All Categories
- 6.9K Accounts Hosted
- 11 📢 Reckon Accounts Hosted - Announcements
- 6K Reckon Accounts (Desktop)
- 3 📢 Reckon Accounts Desktop - Announcements
- 1.2K Reckon Payroll 🚀
- 21 📢 Reckon Payroll - Announcements
- 21 Reckon Payroll Help Videos 🎥
- 21 Reckon Mate App
- 3.1K Reckon One
- 7 📢 Reckon One - Announcements
- 11 Reckon Invoices App
- 14 Reckon Insights
- 114 Reckon API
- 830 Payroll Premier
- 326 Point of Sale
- 2K Personal Plus and Home & Business
- 74 About Reckon Community