DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Reconciliation problems


#1

I am having trouble working the bank reconciliation. There is confusion in dates settings for opening and closing balances. I clearly entered first and last day of the month (which is the way I work) but it changed to a fortnighly date. I restored my backup to start again, but now I am unable to choose my account to be reconciled. It says no match.
I am very familiar to accounting software and have built many charts of accounts to suit the businesses.
I have been playing with this software off and on and the base of a simple accounting software is there but there are one or two things I think could be improved.


#2

You need to be clear about where the confusion exists. Where did you enter dates? In the bank’s download feature for a statement? Manager certainly has no feature to change dates to a fortnightly basis. In fact, bank reconciliation occurs as of a single date, not a range. Describe exactly what you have done to encounter whatever confusion you are experiencing.

Most likely, you have restored a backup from a point in time before you created the bank account.

What things?


#3

First of all I will deal with ‘the restoring a backup’. When I setup Manager, originally I started by setting up my assets, followed by liabilities, then income and expenses.

Using the restore I opened Reports> Bank Reconciliation> New Report> then next step tried to chose one of the bank accounts. It stated ‘No match could be found’.

One thing that I would like to see is when opening Cash Summary, I have 4 Bank Accounts, for each bank account to show the current total. I know it is a summary, but to see this info I need to go to Cas

h Accounts.

I will sort the above out first in case I am missing something?

Thank you for your help.

Regards

Twighlight


#4

This means that there are no financial institution accounts set up under the Cash Accounts tab. If you have set up accounts there, Edit them and check the box to show the account is maintained by a financial institution. If you don’t check that box, Manager assumes the cash account is a petty cash fund, for which no statement can exist. Therefore, no choices are available in the reconciliation report.

The Cash Summary is a report under the Reports tab of movements of money into and out of the business, by account. It is not a summary of bank account status or balance. The cash accounts you have will never show there. That isn’t the purpose of the report. While not exactly the same, this is more akin to a Summary of Cash Flows.

Yes, exactly as designed. And here you will also see status of pending transactions, cleared balance, and actual balance.


#5

Thank you Tut, I Have ticked the financial bank statement – so I will get this done and see how that goes.