Bank Reconciliation Problems
If you’ve finished marking transactions as cleared and =Difference is not zero, you should find the problem and correct it. The rest of this section will help you find the problem and suggest what you can do about it.
A transaction was mistakenly marked as cleared To un-clear a transaction, click it to remove the mark.
If you haven’t finalized the bank reconciliation yet, make sure that all transactions that have just been marked as cleared inMultiLedger are also shown on the bank statement.
If you’ve already finalized the bank reconciliation, check Show Cleared Items before you click Get Transactions. The transactions list will include transactions that have already been finalized based on the Cutoff Date.
A transaction listed on the bank statement was not marked as cleared in MultiLedger
Make sure that all transactions listed on the bank statement have a corresponding transaction marked as cleared in MultiLedger. As you mark a transaction as cleared in MultiLedger, sometimes putting a checkmark next to the corresponding transaction on the bank statement helps.
A transaction listed on the bank statement was not recorded in MultiLedger
- Look at the bank statement to see what sort of transactions might be missing from your MultiLedger records.
- Bank charges (such as a monthly service charge) or dividends have probably not been entered in MultiLedger yet. Record these types of transactions in the General Journal, then return to the Bank Reconciliation and click Get Transactions. The new transaction will appear in the list.
- A deposit might have been made to your cash account that wasn’t recorded in MultiLedger. You should record this deposit in Customer Payments or the Receipts Journal, then return to the Bank Reconciliation and click Get Transactions. The new transaction will appear in the list.
- A check might have been hand written without recording it in MultiLedger. You should record the check in Vendor Payments or the Disbursements Journal, then return to the Bank Reconciliation and click Get Transactions. The new transaction will appear in the list.
A transaction was marked as cleared in MultiLedger, but the amount is different than on the bank statement.
A check or deposit might have been entered incorrectly. You can modify or delete the transaction. For more details, see “Modifying or Deleting a Transaction.”
A prior outstanding total was not entered
You need to enter a prior outstanding total if checks or deposits were created before you started using MultiLedger but haven’t yet cleared the bank. The total amount for these checks and deposits needs to be entered in the -Outstanding Not Entered field, so you can reconcile the bank balance.
For details about the -Outstanding Not Entered field, see“Bank Reconciliation Field Descriptions.”
A check or deposit was already marked as cleared, then the transaction amount was modified after the bank reconciliation was finalized.
If you modify a transaction that was cleared and then finalized, then modify the transaction amount, the transaction is automatically uncleared. You should mark the transaction with the modified amount as cleared on the Bank Reconciliation.