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Fix a bank reconciliation difference that isn’t zero

Created on  | Last modified on 

Summary

Follow these checks if your bank reconciliation difference isn’t zero after reconciling in Sage 50 Accounts.

Description

When you match your transactions in the bank reconciliation window, your difference will be zero. If it isn’t, check the areas below to find the cause.

TIP:

 Speed up reconciliation and reduce errors by downloading transactions directly from your bank using Bank Feeds in Sage 50 Accounts.

Resolution

In the bank reconcile window, check the following:

End Balance Check the End balance matches the end balance on your bank statement.
Last reconciled balance
Ensure this matches the opening balance on your bank statement and the previous period’s matched balance. Understand why the last reconciled balance has changed.
Adjustment postings Ensure that you've posted any adjustments for bank charges or interest.
Double check matched transactions

Check for:

  • Missing transactions
  • Duplicate transactions
  • The value of each transaction matches your bank statement
  • Grouped bank transactions  

TIP:

If you can't find a transaction, see why don't transactions appear in the bank reconciliation window.

If you can't find the difference

If you can't find the difference, we recommend starting the bank reconciliation again.  

Once you identify the issue, use the corrections article to fix any incorrect transactions.

Alternatively, you can post a bank reconciliation adjustment transaction. Post this to the suspense nominal code 9998, which temporarily corrects the balance. If you're unsure, check this with your accountant.

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