Account Reconciliation

[viji81]

Hello Everyone,

I just updated my accounting package to Peachtree Complete® Accounting 2008.
I am trying to do the account recon for the month of december. I cleared all the credits and debits as listed in bank statement for december. But am still having a unreconciled difference(credit).
I went to accounts register and the balance there matches my check book balance.

Any idea what am I overlooking?

I appreciate your help. Thanks in advance

Viji

[rick Prindivill]

Try running the process labeled DATA VERIFICATION located under FILE.

[viji81]

Rick,

I did the Data verfication. But now I am not able to go to the accounting period jan 1st,2008 to jan 31st 2008. I am clicking on the period. A question pops up saying ' All transaction must be posted to continue. Would you like to post these transactions?.' I say 'No', it takes me back to dec 2007. But if I say 'Yes', another window pops up asking ' You must post all journals before you can change the current account period.' If I say ok it, goes back to december period. I had posted transactions in January(last two weeks). There were payments, Purchase orders and reciepts and journal entries. None of them are there now.

Please help!!

Thanks viji

[LauraG]

Check your "posting method" on the Maintain Company Information screen. If you are using Batch posting then you must manually post all of the transactions. Most people chose "real time" so that posting of transactions happen immediately.

To post your transactions go to Tasks>>System and select "post".

You might also change your company preference to Real Time posting if you expect your transactions to show up immediately.

[rick Prindivill]

If your current POSTING METHOD is set to Real Time (Maintain Company Information - Posting Method) then change it to BATCH. Click OK on the Posting Method screen and again on the Company Information screen. Now reverse these steps. Select Maintain Company Information, Posting Method and now change back to Real Time. Again click OK and OK to exit back to the main screen. This process will force the program to check and post any and all transactions, including those that failed to post correctly the first time.

[viji81]

Rick

what do u mean by 'that failed to post correctly the first time'. What entries would it post? Can you give me an example. Like I had errors on my general journal entries. What would it post to make it ok.

Viji

[LauraG]

You indicated that you had created transaction in the past 2 weeks but that they did not show up. They have NOT been posted to the general ledger yet. You need to manually "post" them.

[viji81]

Laura/Rick

Mine was already in Real time posting method. So I did what Rick told me to do. When I did that the entries have come back. But my worry is what entries did it post to make it ok. When I viewed my error log after running the Data Verification it said ' general Journal entry of date of amount not posted right'. All my general journal entries seemed to have a problem. It said it corrected some 8000 errors!

Does that mean that when changed it to batch and changed it back to real-time again. Those entries would have got posted. If they did,would they be right? Cause they got automatically posted.

Viji

[viji81]

Rick and Laura

Thanks for your help.

Viji