Reset the Bank Reconciliation in Sage

Bank Reconciliation Made Easy in Sage 50 First of all, if you aren’t using the checking account reconciliation feature in Sage 50 you ought to be, unless in fact you don’t want to form your life easier. therein case be happy to stay doing them manually. For the remainder of you, keep reading.

Here’s a summary of the entire process. to start out a reconciliation, attend the Tasks menu and choose Account Reconciliation. Or click on the Banking tab on the left side the Sage 50 window then click the Reconcile Accounts button. When the reconciliation window opens, select the account you would like to reconcile from the list at the highest of the window, and enter the statement ending date. At rock bottom of the window, enter the ending balance from the statement. If you would like to enter interest or bank charges, click the double-arrow button to expand that section, then enter them within the corresponding fields. Click- Reset the Bank Reconciliation in Sage 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, albeit that's simple in theory, in real world it is often frustrating. So here are some tips that ought to make it easier. 

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Sort by any column- Clicking on any column heading will sort supported that column. Click it again to reverse the type order. 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 got to type it exactly because it appears on 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.

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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 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 number of cleared items alongside the entire dollar amount. once you are having trouble getting your account reconciled, this may assist you narrow down you search. Your statement will offer you 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. Click- Reset the Bank Reconciliation in Sage

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 Account Reconciliation report group will show you exactly which receipts are included in each deposit.