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If you have gone through these reports and you still don’t balance, another good report to review is the Ledger Listing found on the Reconcile Bank Statement screen. This report will show General Ledger entries for the time frame you are reconciling. The report will break it out into different sections to help you quickly review the information: Checks, Deposits, Bank Charges, Interest, and Bank Drafts. Any manual Journal Entries, regardless of journal, will show in the Bank Draft section. Journal Entries will not be allowed to be marked as outstanding; they stand completely on their own. If they are not in the correct period, the effective date may need to be changed

 

And If I Still Don't Balance?

• List or view the cash account.  Review the detail for possible mis-coded transactions.

•Use the List Outstanding selection on the menu. The listing will print the information on the screen, plus list outstanding checks and deposits.

•Check the bank service charges and interest earned--make sure they aren't posted twice.

•Make sure all drafts have been recorded in the draft journal.  There should be nothing else in the draft journal. See below for more information.

 

Tech Tip: Changing dates in G/L will not change the dates of Checks, ACHs or Drafts in Bank Rec Check History.

 

Beginning balance does not match Bank Statement

The beginning balance field cannot be edited on the current cycle.  If the beginning balance does not match the current bank statement, you can correct the balance on the previous bank reconciliation.  Go to the last bank reconciliation cycle and make sure the ending balance is correct or you could adjust the current cycle to match the ending balance on your current statement to get yourself back on track.

 

Handling Bank Drafts:

Bank drafts can be handled one of two ways in Pak Accounting.

1.Enter draft through A/P Module using Handwritten Checks/Drafts or Add Check # to Unupdated Invoices.  Drafts will be recorded using an “E” record for the check number.  These records will be automatically marked as cleared on the Bank Reconciliation, but can be marked as outstanding on the Clear/Void by Tagging screen. (Recommended method).

2.Enter bank drafts as a G/L entry, via the unposted entries maintenance screen.  Use the draft journal, set up in Bank account maintenance, for the journal entry (do not use a check journal).  These recorded will not be allowed to be marked as outstanding on the Bank reconciliation, so make sure you record them in the proper period.