Reconcile credit card - opening balance appears on next month as a opening balance ????

  • 1
  • Question
  • Updated 11 months ago
Hi, I am using 2017 Premier version. I am trying to reconcile a credit card, although the ending balance is the same as my statement and I tick it off and shows no discrepencies, the issue is that the exact amount that I reconciled the month prior is showing up as the opening balance on the next month. I then go back to the register to check, it seems like it has cleared so I am unsure as to what I have missed. I have been stuck on this for 2 days now so would really appreciate feedback.
Photo of nattmatt2

nattmatt2

  • 90 Points 75 badge 2x thumb

Posted 11 months ago

  • 1
Photo of Robyn Ricket

Robyn Ricket, Accredited Partner

  • 542 Points 500 badge 2x thumb
When you complete a reconciliation of a credit card in Reckon Accounts it gives you the opportunity to Write a Cheque for the payment of the closing balance.  If you accepted this then this cheque would have been created for you and affected your balance in the register. 
If you go into reconcile again you will see the amount sitting as unreconciled.
If you don't want this to happen in the future just click Cancel or press ESC key on your keyboard at this point.
Useful only if the client pays off all of the balance of their credit card.
Photo of nattmatt2

nattmatt2

  • 90 Points 75 badge 2x thumb
Thank you for your response Robyn
ok.... I still don't see why after the cheque has been written that I will continue to see this as an open balance in the following months reconciliation as opening balance shows as a discrepency.
Can I ask how you would reconcile a credit card based on the scenerio that you would use the credit card all month then pay it off once you have money in the business account to do so.
I thought this would be an easy process
Photo of nattmatt2

nattmatt2

  • 90 Points 75 badge 2x thumb
Screen shots of the process really help me if anyone has the time,
maybe I might not be doing it right, one thing I am sure of is I am having no trouble to match the transactions so there is something wrong in the process