Bank Services 5.6 Out of balance issue

[Maggied]

Hi,
They started using bank services for reconciling their bank account. There was already an amount in bank services. They posted there bank rec and noticed after the GL and BK does not match. I have tried to do a bank entry against the bank so it causes an in out (to not effect the GL balance) This is fine when I post it then it shows up in my outstanding withdrawal amount. Then when I clear that i'm out of balance again. I'm not sure what I am missing. So any help on this would be great.

Cheers

 

[Jay Converse]

You have to clear the entry.

 

[Maggied]

That's what I did and that's when I get the out of balance again.

 

[Jay Converse]

Then you did it wrong.

 

[Maggied]

Can you tell me the correct way of matching my bank service amount to GL amount without effecting the GL

 

[Jay Converse]

Do a bank entry with the bank's GL account

 

[Maggied]

That is what I did. And it will show up on the right side of bank entries not posted. Then when I post it, it brings it to the left side as outstanding withdrawls then when I clear that I am out of balance again. Not sure what is going on.

 

[Maggied]

for example book balance is 2000.00 as of april 30
Gl balance is 1000.00 as of april 30
So I am doing a bank entry against the bank it self so it doesn't change my gl balance. When I do that and post it the correct amount is in bank services BUT it is showing up under outstanding withdrawl amount...which I don't want so when I clear that amount I am out of balance by that amount again. I feel like I am going in circles and it is probably something stupid I am doing wrong. Any help would be appreciated.
Thanks

 

[Jay Converse]

I don't know what to say, I've done this a hundred times, and tell all my clients to do it.

 

[Maggied]

I know... I have done this a lot before to bring in opening balances...so I'm not sure what is going on. Not sure if maybe they cleared deposits or withdrawals that shouldn't have been cleared.

 

[Maggied]

What could of happened is they never used bank services and last month they cleared all the old checks and deposits and used a bogus statement amount to clear them out. So now its next month and they are starting live so when they did the bank rec this month it is out and they posted it. So How would I correct the issue if the previous month they did the wrong statement balance?

 

[ettienne]

Correct the bogus statement balance with an entry, post it and clear it.

 

[Maggied]

O.k so they posted the bank rec (march)with the bogas statement amount and then they did april bank rec with correct statement amount and posted the bank rec for april. So the GL account and book balance are out of sync. This is the last month for year end and then they are going to merged into a different database. So when I correct the bogas amount with an entry it will put it as an outstanding withdrawal or outstanding deposit and then I clear that. Then do I do a bank rec again for april with the correct statement amount and it should all work out?

 

[ettienne]

What do you think?