Announcement

Collapse
No announcement yet.

unreconciled difference

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • unreconciled difference

    What exactly comprises the amount in the "unreconciled difference" when reconciling the checking account?

    What would be a good way to get it to Zero? I took over the position of bookkeeper several months ago and the difference has not been Zero in over a Year!

    Any Help - Very Much Appreciated. Does Peachtree for Dummies cover any of this?

  • #2
    reconciliation

    Dear Bunny, if you have seen where the account balanced
    with the bank statement at one point, I would go back to that
    month and start looking for the difference. It could be a bank
    service charge or a transposed check amount or deposit.
    You could also make an adjusting correction but actually the
    curiosity would get the best of me and I would have to find
    out the truth. haha

    Comment


    • #3
      Can you manually balance the account so that you know exactly what checks and deposits have not cleared? Have all of the interest income and services charges been recorded in PT? Once you can manually balance the account then you can clear those items in the account rec screen until you are left with the correct balance.
      ~Laura~
      Certified Bookkeeper
      Cape Cod, MA
      Soundbookkeeping@gmail.com

      Comment


      • #4
        I am facing much the same situation. I don't think the PT reconcile feature has ever been used! There are so many things showing up on the checks and deposits that it is hard to sort the real from the fiction. The accounts have been manually reconciled, so I know what is actually in the accounts. If I mark "cleared" on all the entries that I know are not valid, what kind of an entry to I make to cover the differences? I have used the reconcile feature in Quickbooks, and am looking forward to having this in PT also.
        rose

        Comment


        • #5
          I would check off everything except for those entries that you know have not cleared. If you can manually balance the account then you should be able to balance it with the use of the Reconcilliation tool. There should be no need to do any sort of manual adjustment. Just weed through the entries and mark them cleared. Use the Range feature to specify time ranges of checks that you know have all cleared. This may take some time but it should be possible to get the account to balance.
          ~Laura~
          Certified Bookkeeper
          Cape Cod, MA
          Soundbookkeeping@gmail.com

          Comment


          • #6
            As suggested, I have waded through several years of charges and deposits. I suspect that there are some deposits entered twice. The reason for this is that I know some of the deposits have been posted in PT and they still show up on the "to be deposited" window. If I mark them for deposit they are in there twice! I highly suspect that this "unreconciled difference" is the result of all kinds of errors and wierd stuff along the way. If I take that stand, what do I need to do to be reconciled? If I just let it go, will that amount show up again next month?
            rose

            Comment


            • #7
              Does the unreconciled difference at the end of each month transfer to the account reconciliation for the next month? Or is each month's reconciliation a clean slate so to speak?

              Comment


              • #8
                Unrec difference accumulates month to month.
                Tom Sechler
                www.software-link.com
                Sage Certified Consultant

                Comment

                Working...
                X