First of all, if you aren’t using the bank account reconciliation feature in Sage 50 you must be unless, in fact, you don’t want to form your life easier. therein case is happy to stay doing them manually. For the remainder of you, keep reading.
Now you only got to check the box next to every item that cleared on this statement. When everything is correctly marked as cleared, the unreconciled difference within the bottom left corner is going to be $0.00.
Of course, even if that's simple in theory, in real-world it is often frustrating. So here are some tips that ought to make it easier.
Sort by any column – Clicking on any column heading will sort supported that column. Click it again to reverse the type order. In this manner, you'll easily locate a transaction by amount, date, or payee/description.
Find Button – If sorting doesn’t do the trick for you, click the Find button at the highest of the window. Then type in whatever you would like to look for. It might be a check number, amount, date or payee. Just remember that this is often an easy text search so you'll get to type it exactly because it appears on the screen. If you're trying to find March 15th, 2015, you would like to enter Mar 15, 2015, not 3/15/15. Mar 15 would also work since it'll find partial matches. And for an amount you want to include commas.
Multiple Button – you'll clear an entire series of transactions directly with the Multiple buttons. Choose the transaction type then enter a starting and ending reference (usually a check number) or date range.
Import Button – If you'll download a press release from your bank in .OFX format, you'll import it here to automatically clear matching transactions.
Add New Button – If you're missing a transaction, the Add New button gives you shortcuts to enter certain sorts of transactions. But you aren’t limited to those. While the older version of Sage 50/Peachtree made you shut the reconciliation to enter new transactions, now you'll enter new transactions with the reconciliation still open. once you return to the bank rec, the info will automatically refresh.
Clear Button – gives the selection of clearing or un-clearing all transactions. If your reconciliations are as simple as “clear all” you almost certainly wouldn’t bother reading this. But if you're having problems and just want to start out over, the “un-clear all” option may be a success saver.
Checks and Bank Debits/Deposits and Bank Credits – within the upper left corner, you'll see the amount of cleared items alongside the entire dollar amount. once you are having trouble getting your account reconciled, this may assist you to narrow down your search. Your bank statement will provide you with these same numbers, so look to ascertain if your total cleared checks matches the banks, and do an equivalent with deposits. which will tell you where to seem for the matter. But confine mind that void checks can throw this number off. once you void a check, Sage 50 enters an identical negative check and marks them both as cleared. The negative check gets lumped in with the Deposits and Bank Credits. meaning both your cleared checks and cleared deposits are going to be above the bank’s number by 1 transaction and therefore the amount of the voided check.
If you're having trouble matching up your deposits, you'll have your customer receipts incorrectly grouped into deposits. The deposit Report which is found within the Sage 50 Bank Reconciliation report group will show you exactly which receipts are included in each deposit. you'll then edit the deposit ticket IDs within the Receive Money window (formerly called Receipts) in order that your deposit amounts will match those on your financial statement.
Help for Reconciling Bank Statements SAGE 50
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