Bank Reconciliation not Balancing / Variance

If you have noticed your Bank Reconciliation is out of balance before you post the Bank Rec, check the following:

1. In the Bank Reconciliation window is the manual figure you typed into the Statement Balance correct?

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2. Does your Trial Balance equal zero?

• If not, take a look at Trial Balance settings / Trial Balance does not balance to zero

3. Check that the total for the Bank Account is equal to the Transactions tab total on the Budget Worksheet.

• If it is not, run a Chart Rebuild. Please see the instructions here on How to run a Chart Rebuild

4. Compare the total of your Bank's AP Clearing Account on the Budget Worksheet with an unpaid input report (Invoice inquiry Report) from Invoice Inquiry.

• Invoices assigned to cheques in Cheque Posting will need to be taken into account as they won't appear on the unpaid input report.

5. Check your Control Accounts under Control Table > Control Accounts and make sure the accounts are setup correctly and are pointing to the correct account codes.

• The most common issue is when a user sets the Accounts Payable Clearing account to the same account as the Bank Account. If this is the case, you will need to do distribution changes to move the incorrect postings in the bank account to the correct clearing account.
  
  

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6. Check that there haven't been any AP or PC entries posted directly to the Bank by running a ledger inquiry or BWS Transactions tab export over your Bank Account Code.

• You should ONLY have AP Bank Account Postings or Journals posted directly into your bank account.

• You SHOULD NOT have any AP or PC Control Account Postings directly into your bank account. These should be going to the AP or PC Clearing account.

• You SHOULD NOT have any AP or PC Cost Lines posted directly into your bank account.

If there are any PC/AP Control Account Postings or AP/PC Cost Lines:

• Add Adjustments in the Bank Rec and clear them against the bank statement 
  OR

• Do Distribution Changes to move these values from the bank account to the correct account.

7. Compare the cheques from Cheque History that are assigned to your bank account code to the AP Post Credit Control Bank Account Entries posted inside your bank account.  

• AP Post Credit Control Entries = Run a Report to Excel for your Bank's Account Code from General Ledger -> Ledger Inquiry. Alternatively you can go into the Budget Worksheet, sort by Description, and export that way to Excel.

• Cheque History Dump = Do an Excel dump from Accounts Payable -> Cheque History by ticking Select All, right click -> excel. Then do any necessary filters inside excel.