Unable to reconcile bank account have been using manager since 2015 and have never been able to reconcile.
I would like to attempt to repair/fix the issue as the more I try to fix the worse it gets
I’ve started to import bank statements
Please help
Thanks in advance
What edition and version of Manager?
Can you explain what you do in more detail - the Bank Reconciliation works very well in Manager
Hi Joe,
I’ve updated to the latest Desktop version 25.10.7.2906 I don’t believe it’s a version issue
As I’ve reported we’ve never reconciled the bank accounts using manager always used a manual process of checking paper receipts and payments against the bank statements and books are audited each year and auditor has always been ok with the process.
We would like to start to reconcile via manager and have started to import data from bank have created bank rules etc we have a point of sale system that can produce CSV or Myob or Zero outputs so we still have to enter receipts and payments manually into manager. Main issue is that the Summary keeps adding up each year even though we set the date for the balance sheet.
Apologies I’m not an account and have been trying the best as we’re not for profit sporting club. looking for some advice on how to fix the issue I was also looking at starting from scratch, but we have been 10-11 years history
Regards
Jim
What do you mean by “the Summary keeps adding up each year” ?
That’s what it is meant to do for Balance Sheets accounts such Bank accounts
If possible show screenshots
It is difficult to understand your problem from your description
If it’s possible I could give you access to my computer and I can show you
Thanks
Jim
No, that’s not possible but you can post screenshot here on the forum
I’ve been trying to reconcile still not getting anywhere I’m attaching a number of snippets hope it can help
Thank you
You will have to reconcile the bank statements starting back in 2020
You shouldn’t have any entries in your Suspense account - that indicates errors in transactions
Also the balance on the Inter Account transfer should be zero - thus indicates that you have posted one side of an inter-account transfer but not the other side
Thank you I’ve followed the prompts and entered the data but still unable to reconcile I’ve all the statements from bank is there any way to balance/reconcile from the end of Dec 2024
Just started using the inter account function still unsure how to post correctly
You’ll need some accounting knowledge to fully understand what you’re doing. Approach the reconciliation gradually, starting month by month or week by week. In cases with large discrepancies or high transaction volumes, you may even need to go day by day.
Accuracy is key here; even the smallest discrepancy can cause the reconciliation to fail. I would have been glad to assist, but given the large number of transactions based on your receipt numbers, it’s quite extensive.
Thank You I’ll battle on and see how I end up
Hi just spent half day trying to reconcile our bank account using manager unfortunately it’s to no avail the more I try the further it messes up, some of the issues are dates when the payments and receipts were entered, against bank deposits and payments, we used cheques for payments hence dates never matched
I’ll ask the question again is it possible to restart reconciliation from the end of 2024
Thank you to all
Addition info (we now don’t use cheques since the middle of 2024
In Bank account set-up make sure you have selected “Can have pending Transactions”
Then in Payment transaction you can enter the date cheques are cleared.
Thank you AJD I’ve added a few extra clips to show the setup of Bank account, default payment and receipt forms and a couple of issues in summary with journals going into Suspense account
Another question does a control account needs to be setup we don’t have one setup.
Is there a way that we can start from the beginning of 2025 as I’m not sure that we could update all the payments and receipts to reconcile the bank account going back to the start
Thank you again
Yes you could - just you would have to enter an “imaginary” receipt or payment to make the account balance on 31st December 2024.
This obviously would not be legal in most jurisdictions
Why do you have blank lines on your default forms?
Hi Joe, thank you for the quick response
You say “This obviously would not be legal in most jurisdictions” we have had our books audited from the beginning starting from 2015 when I took up the chore of entering payments receipts etc into Manager but never really understood all the accounting processes we used manager as a ledger, manually created payment and receipt summaries then entered them manually into manager we then reconciled with the bank statements by checking each payment and receipt with the bank statements. At the end of each year, we created reports from manager to go with the books, receipts and payments to the auditor.
We went to a point-of-sale system in the last couple of years that made the job easier to manage but still needs the payments and sheets to be entered into manager. We’re trying to simplify/automate some of the processes like bank reconciliation, importing bank accounts and importing the point-of-sale output which has an CSV output for Myob and Zero and I was hoping we could adapt to input into Manager.
This is why I would like to start with the bank statement import hence why I would like to start afresh from the start of this year as I think it would be almost impossible to Reconcile the bank account to 2015
The blank lines in the default forms were put in to simplify the inputting into manager as we have at least 5 to 6 transactions that recur each day we open 2 to 3 times a week
There is obviously a problem as in Manager for the 1st January your bank balance is shown as 111,703.77 and your bank statement shows 70,750.47 - where did you get the addition 41,000 receipts from or have you understated your payments by 41,000 ?
Did your bank account in Manager ever balance to the bank statement? Every reconciliation entry you posted is out by a different amount. That tells me that there are missing or duplicate transactions between each of those reconciliation dates, so throughout the years from 2020 to 2025. There could be an enormous number of transactions to sift through or find.
You have to go back to the last time the two were the same and start from there. Even if it means going back to the day the first bank account transaction appears in Manager. Perhaps even your opening balance for your bank account in Manager is incorrect.
By way of explanation: Let’s say you had an existing bank account you were running the club from and then in 2020 you started using Manager and created the account there. When you created this new bank account in Manager you need to be sure you have the same starting balance as on the bank statement.
Without a balanced starting point you will waste a lot of time.
Things to consider:
If you’re not interested in figures prior to 2024, say, then start a new business in Manager, with correct opening balances for the bank and other balance sheet accounts, and capture transactions from then on. This might be a little extreme.
Copy all bank account transactions from Manager to a spreadsheet and compare balances to your bank statements. You might find it quicker to scan through and find missing and extra transactions. If your bank statements are available in csv format you might be able to do easier comparisons by pasting both the Manager bank transactions side by side with the bank statement transactions.
