End of Year Discrepancies?

by Kyle Zeigler, Sage Senior Certified Consultantcash-management-balance

For many users of Sage 300 Construction and Real Estate, December 31st constitutes the end of the financial fiscal year and January 1st starts the mad rush to close the year and tie out subledger reports to general ledger balances. And you’re wondering, “Why is my cash management out of balance?”

Whether it’s year-end or month-end, one of the issues users may encounter is discrepancies between the general ledger and one or more of the balances displayed on the Bank Reconciliation report in Cash Management. The following information may be helpful in understanding and troubleshooting these balances:

  • The Bank Statement Ending Balance on the Bank Reconciliation report is calculated as follows: The Bank Balance on the bank account less the total of all entries with a Cleared Date greater than the Statement Date on the report.
  • The Adjusted Bank Balance total calculates as follows: The Last Reconciled Balance on the bank account plus all transactions that have an Accounting Date less than or equal to the last reconciled date with a status of open (O) or cleared (C).
  • The Register Balance as of Statement Date total calculates as follows: The current Register Balance on the bank account minus all transactions with a Reference date greater than the Last Reconciled Date.

If the Bank balance on the bank account is wrong, the Bank Statement Ending Balance will not match the bank statement. Also, when finishing a bank reconciliation, the task may take some time to fully complete. If users access the bank account before the Reconcile task fully completes – for instance, to immediately print the Bank Reconciliation report, the balances on the bank account may not update correctly. It’s always a good idea to check Background Tasks to confirm that the Reconcile task completes successfully before accessing reports or the register for the bank account.

When balances are incorrect on the Bank Reconciliation report, the first line of defense for users is the Sage knowledgebase. Article 64702, “Reconciling the Cash Management Bank Reconciliation Report and General Ledger,” will walk you through the various reasons balances in Cash Management may not match General Ledger and direct you to additional knowledgebase articles to help you troubleshoot your specific issue.

Before beginning any troubleshooting effort, be sure to do the following:

  • Confirm that you have clicked Finish in the Reconcile task for the bank account to be fixed and that no reconciliation is in progress.
  • Use File Tools to back up the Master.CMM and Register.CMT files.

As always, if you need help troubleshooting if your cash management is out of balance or any other reconciliation issues, don’t hesitate to contact ETHOSystems. Or, log onto the Sage Knowledgebase or Sage City and search for more info.

This article first appeared in the ETHOSystems February 2020 Newsletter.

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