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Bank reconciliation


#1

I am using the latest Ubuntu version to enter my 2013 checking account info. I have the first two monthes of data entered for 2013. All my dates and amounts are correct. I entered the first month and it reconsiled out fine. I entered the second month had a few date erors 2014 instead of 2013. I corrected them and now it will not reconsile correctly. Keeps trying to reconsile to odd dates in the middle of the month such as the 5th or 7th. All ballaces match the bank statement in the summary view. Please help.


#2

So where exactly are you stuck? Manager is asking you what was the closing balance on “odd date”? Why not enter closing balance for the date Manager is asking and continue the process until you reconcile?


#3

My checking account cycles at the end of the month. Instead of asking about the balance at the end of the month it was asking for bank balances on random dates in the middle of the month. It asked for Jan 9 2013 then Jan 7 2013 and then Jan 5 2013.

I have by now entered all of 2013 data and have checked my balances according to bank statements beginning and ending balances and every thing matches up perfectly. I just tried it again. It asked for a bank balance on June 26 but there was two more transactions in that month. I assumed it wanted the end of the month balance and entered it, the next one which was July 28 2013 then the next one it asked for was July 15 2013. ?? I think there’s a bug? Programs I have used in the past asked what the cycle date was.


#4

Well, if the program is asking for the closing balance on June 26, then you should have entered closing balance as at June 26. Not as at June 30.

The program was trying to determine on which specific days there is an error. I’m aware of other accounting packages which they make you reconcile in monthly intervals through “ticking” process. Then they just tell you you are “out of balance” with no context where is the error so you can start all over again. Wasting time for nothing.

That’s why Manager is not doing it this way. Instead it will ask you for closing balances on various days until it can determine on which specific days you are out of balance which means you will always reconcile because it’s much easier and faster to find an error in single day than in whole month.

So bank reconciliation process in Manager is different but for a good reason.


#5

It is the easiest reconcilliation program I have ever used. I reconcilled 12 months of data entry in 2 days. If I didn’t have a regular full-time job I would probably have completed it in 1 day.


#6

how to make entry for previous year unrepresented cheques in bank reconciliation ?


#7

my statements do not have that information


#8

@llo, you are looking at a 4year old topic. The program has changed a great deal since then.


#9