Is there a way to print a report after a reconciliation that shows what transactions were included in that were successfully reconciled?
Because of the way Manager works, as a perpetual accounting system, the answer to your question is no. Reconciliations are as of a specific date. Thus, they include all bank transactions up to and through that date.
Similar Question here: How do i check on reconciled transactions after a successful reconciliation?
What do you mean by “check on?” You can compare your transaction entry to your bank statement. You can compare it supporting documentation.
What i mean is once it’s reconciled you can see the individual transactions. Or how do i check the transactions on a RECONCILED STATEMENT?
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@Kash, you are misunderstanding how the program works and what I wrote earlier in this thread. A bank reconciliation report does not cover a limited set of transactions that can be listed and checked off. It covers every single transaction since the bank account was opened. It confirms that the bank account’s balance on your statement matches its balance on the balance sheet. It is not equivalent to ticking off transactions in the program that match those on your statement.
So once you have a successful reconciliation report, if you want to know what transactions are covered, you can simply drill down on the account’s cleared balance in the Bank and Cash Accounts tab. Obviously, that list will get longer and longer as you continue using Manager.
Personally, I believe the entire Bank Reconciliations tab was an unnecessary addition to the program. When introduced, it catered to users who could not separate themselves from old habits of paper statements and cheque books. In reality, you can accomplish the same thing just by looking at the cleared balance in Manager and comparing it to your bank statement. Or, if you are doing your banking online as is so common today, compare it to the online balance. I’ve done that with all my businesses for 10 years. What good does the report do except give you a piece of paper to file? The records will be in your data file anyway.
I admit the reconciliation process in Manager can help you find discrepancies. But once you have successfully reconciled, the report is of little use.
If a transaction is entered with an incorrect date, it will throw past reconciliations off. The program does not give any warning of this happening. You only realize it when you open the reconciliation tab. Once this happens, having a report or marked transactions (I prefer marked transactions) that are reconciled helps find the error much faster. I know this happens as I spent a lengthy time finding a transaction that had an incorrect date. All other programs, Quicken and Quickbooks have this built into their software. Whether you would use it or not is irrelevant. Other users find this tool helpful.
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accounting systems are perpetual systems. All reconciliations are as of a specific date. Knowing what transactions have been previously reconciled, helps find errors.
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That is not true of all accounting systems.
quicken and quickbooks are perpetual systems and have these reconciliation reports and marking.
When you enter a transaction with an old date, set the cleared date to a future date a d it should not affect reconciliations
What happened with my error was that I hit the wrong number key when entering the date. I hit a 1 instead of a 4. That threw 4 months of reconciliations out of balance. If transactions were marked as previously reconciled, I could have found the error much faster.
You could have looked in the history to see recent transactions
You could also set the lock date to the last reconciliation date
I 100% agree with you more especially in your last paragraph. It’s of little use once it has reconciled.
It took me 2 hours using Excel and would have probably been seconds if there was a check mark system like you have proposed.
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There is the option to set the Cleared Date to “On a later date” so that the non-cleared transactions would be easy to find
BEFORE you do the reconciliation, copy and paste the entire list of possible transaction to a Word Document - make sure you set the page to landscape. this will show you everything that the page in Manager shows you. You can then check everything as/if necessary before you actually finalize the reconciliation.
This will only work if you have outstanding items to reconcile, e.g. items that show ‘later date’ on them.
It’s not as simple as it being built in but it can help with items - especially ones that you may have set to an incorrect date. (Yes, I’ve had the same problem and sometimes it’s a real pain to find and fix.)
where is that option? I tried to find it but no success.
Reconciliation confirms the account balance at the date of reconciliation is the same in Manager as it is in the external bank.
By definition that is the
- total of all transactions prior to the reconciliation date in Manager is the same as
- total of all transactions prior to the reconciliation date in the external bank account.
Please take not reconciliation only compares the totals not every individual transaction exactly match in date or amount.
In addition Manager also
- assist in tracking down a un-reconciled accounts by requesting you enter balances at different dates to do a binomial search to find the time the accounts became unreconciled.
- Supports storing old reconciliation so if later edits to Manger result in loss of reconciliation all such results are instantly shown in the reconciliation tab.
So to answer your question directly you have to print out all transactions prior to the reconciliation date but only look at the total.
Manager does not support storage of a prior bank import and re-comparing all transactions at a later date.
All receipt and payment transactions have a cleared date is you have setup the bank or cash account to have pending transactions