ok adding to my problems, if i cant delete it and reenter/reeconcile

I have found a transaction which is one of my problems....

on the real b/s there was a dd out for 848.00 4/5/10 , i have checked, it did not bounce. on the bank rec sheet it also shows this 848 out on the same day

However when i look for this tran in financials, it has been deleted. it has then been reentered same amount, same date etc but obviously must have been after the rec date and is now showing in my bank statment. How do i go about correcting this? :-s

I think i am going to cry

So re reconciling it again, do you reccommend i match it up in the blocks that she has done and so reconcile upto the 5th again and try to get that part to balance and so on?

im on 2009 i have tried to do it untill 5/5 but i have like 1300 difference :-S its going to be a long night!

why oh why did i decide to look at the bank accounts on a friday! this is only my first week

Hi there,

I sympathise with your bank rec problem. So many people just are not methodical when it comes to reconciliations. Sounds like you have got a job on your hands.

When I do bank recs I like to do them manually as well as on Sage. I usually print off a bank nominal activity report for the period I'm reconciling - Nominal - Reports - Nominal activity and then enter the bank nominal code and the dates you require. I have set up a copy of this report so that it sorts in numerical order by amount, so that they are easier to find. This helps if you have loads of transactions. Then it is a question of going through the bank statement and ticking off the entries on the report. I am then left with entries which have not yet gone through the bank.

When I go into the bank reconcile window I then highlight all the entries that haven't yet gone through the bank, click on Swap (which then highlights all the reconciled entries) and then click match.

With regard to the amount that had been reconciled and then deleted and re-entered, it is obviously sitting on your bank rec un-reconciled, so you need to go back to the period when this was reconciled (somewhere about or after 4/5) and enter the balance that was reconciled at the time. Then highlight this transaction and click match and the difference box should be zero.

It all boils down to the fact that you have to start back from where you know you had a correctly reconciled figure and take it from there. There is no quick fix unfortunately

Probably totally confused you now!

Pauline

I DID IT!!!!!

woop woop!

Hi Pauline, it was really easy, quite embarressed i spent so long on it!

Onto my next problem, im trying to enter all the June stuff tomorrow so i can try and reconcile it..good luck to me!

I have what is probably a really stupid question...

A suspense account is where you post stuff while you are waiting to find out what its for right so if my directors take £100 out the bank and dont tell me what its for I journal it to there and then put it back when they tell me what it is right?

So my suspense account has £11k in since march 10 is that bad? does the balance need to be 0 for end of year or does it not matter?

I think i'll leave that at the bottom of my to do list!

It's interesting the way peoples opinions differ.

If it was a common occurrence and you got the feeling the Director was treating the money as their own, I would absolutely follow Sheila's advice.

I've had some great conversations as to why watching late night movies while on a business trip abroad doesn't constitute a business expense

But as Nicola has stated it's a new role, I'd be more cautious to begin with.



-- Edited by ADAS on Tuesday 31st of August 2010 10:31:40 PM

I think it also depends on whether you are working for a company in accounts or as a freelance bookkeeper!

If working for a company in accounts, although they should respect your views and knowledge, what the Director says to do with something is what you should be following, so long as you have back up ie an email telling you to do something.

As a freelance, its your neck on the line.

P