After completing the bank reconciliation in the Input→Reconcile Bank menu option, the cashbook (bank account) balance in TurboCASH and the bank statement must be in balance. i.e. after all the outstanding deposits (receipts) and the outstanding payments (cheques) are reported on the Cashbook Reconciliation Report.

Any differences should be displayed on the following screens or reports:

1. Input→Reconcile Bank menu option - The bottom right-hand corner
   
   
2. Cashbook Reconciliation Report
   
   

TurboCASH will subtract any unreconciled payments and add any unreconciled receipts from the bank balance according to the bank statement thus giving you a reconciled balance.

- If there is a difference between the Reconciled Bank Balance and the balance according to TurboCASH you have an error in either your Payments or Receipts Journals. You have to search for the error and correct it.

- The following are only a few examples that can possibly cause a difference:

1. Your closing bank balance is incorrectly entered on the Reconcile Bank Account screen (Input→Reconcile Bank menu option) or on the Reconcile Bank Account report options screen (Reports→Reconciliation menu option). If you have downloaded a bank statement or imported a bank statement, you need to save the bank statement transactions as a file using the correct dates to include transactions when you save the file.
2. Incorrect date entered in the Include Items Until field Reconcile Bank Account report options screen (Reports→Reconciliation menu option).
3. Not all transactions appearing on the bank statement have been marked or selected as reconciled items on the Reconcile Bank Account screen. If amounts have been marked or selected as reconciled there may be a difference in the amounts in your cashbook (receipts and payments journals) and the bank statement.
4. Transactions appearing on the bank statement may have not been entered in the receipts or payments journal. In this case you need to find the transaction, and add or insert the transaction form the receipts or payments journal.
5. Transactions appearing on the bank statement may have been entered twice in the receipts or payments journal. In this case you need to find the transaction and delete the transaction form the receipts or payments journal.
6. Transactions appearing on the bank statement may have been entered incorrectly in the receipts or payments journal. In this case you need to find the transaction and delete the transaction form the receipts or payments journal.
7. Errors in posting – they should have been detected when your bank reconciliation was done. An example is where you may have posted an amount incorrectly (e.g. as 64.00 and entered it as 46.00).

- If the difference is a positive amount, it is likely that a transaction on the bank statement is not entered or omitted in the payments journal.

If the difference is a negative amount (the amount prefixed by a minus sign (-)), it is likely that a transaction on the bank statement is not entered or have been omitted in the receipts journal.

- If everything else fails, you may sometimes have to look at your cashbook, and link up the source documents to check if you have entered all your transactions correctly. You may need to generate a Cashbook report from the Reports→General Ledger→Transactions menu option to trace some errors, if your payments and receipts journals (batches) have been posted to the ledger.

- If you had not changed the description “BALANCING ENTRIES - Receipts Jnl”, “BALANCING ENTRIES – Payments Jnl” to a meaningful description such as Deposit Slips D5000 to D5001 and Payments Cheques 105 to 111, you would find serious difficulties in tracing the errors with lots of data.

— digidan 2006/11/02 17:14