Bank Reconciling Hints
Reconcile / Reconciliation / Reconciling
in Goldenseal accounting software
1)Determine the difference between GS's total and the Bank's (or yours) and compare it with the Starting Balance in the Account record. If they are equal, there's no problem, you just need to account for it.
2)In the transaction window, do a Find for trans's with the Reconcile Period, compare the # of Found items with the Bank Statement's # of items. If they don't match, correct the data entry in GS using the Bank Statement and reconcile again.
3) Double-check the bank's math, GS's math, and your math. It's best to add up all of one type of transaction then plug them into the Statement Balance formula. Remember, all data entry is ultimately by hand and occasional mistakes are made. The Hubble telescope wobbled becuz a Ph.D.'d mathematician used a (-) instead of a (+) in an equation.
4) If this is the second time a reconcile has been run using this reconcile period, the Statement Balance may no longer be what is expected. See GsA #47 for the quick answer and GsA#61 for the dry details.
5) This one is occuring in 1.07 and earlier: GS includes checks with the States: Job Cost Only and Planned in the Reconcile if they have that Reconcile period. To work around this, either do not enter a Reconcile period in the transaction or delete it if you have already.
6. If previous periods reconciled OK but this one doesn't, and if totals are correct for this period, it's possible something was changed in previous period (or an item was marked as reconciled when it wasn't, or vice versa. To find that, clear out the Statement fields for this period and try again on the last period.
Once users succesfully reconcile one period, it usually goes easier.
Entered 10/12/01 by Gor. Updated 10/24/2010.