Summary "Cash at bank" figure does not match Bank Accounts value

A weird error popped up today - or this is at least the first I noticed it.

The Cash at bank figure on the Summary page is out by $350. When drilling down from the Summary screen, into Cash at bank, it displays the same incorrect figure. I am running the desktop version of Manager updated to version 20.7.54 but it made on difference.

Summary screen:

If I drill down on the “Cash at bank” total, it remains incorrect

… and maintained when showing the transactions…

If drilling down via the Bank Accounts tab, the correct total is shown. The amount is different by $350.00

This is the correct figure. Bank accounts are reconciled to last statement and figure in the Bank Accounts section agrees with the current balance as of the date of entry.

Does anyone have any idea what caused this discrepancy and how can it be fixed?

You can drill down on the 102,948.40 and see if there is a 350 somewhere

Is there a transaction dated 30th June?

Other things to check are transactions before the start date

There is a $350 transaction in the account so I tried deleting it and that didn’t work so I reentered the transaction.

There are no transactions for 30th and I took the date filter off. No changes.

The account is not the original account but all accounts fully reconciled.

I don’t know what you mean by “The account is not the original account”

Are you saying that the $350 transaction appears in the drill down from the bank account tab and not in the drill down from the Summary tab?

Show the edit screen of the transaction with the $350

Please clarify this, too. Are you referring to the date range set for the Summary page? Please show a screen shot of that.

Also, do you have a start date set under Starting Balances in the Settings tab? Were there starting balances for any of your bank accounts?

There is

My bad wording. The account where the discrepancy appears from drilling down from the “Cash at bank” value in the Summary screen was the second bank account created for the business. The first account has been closed and has zero value.

There is a transaction for $350 in the account.

This isn’t the cause of the problem because I deleted that transaction and the difference between the bank figure remained accessed through the Summary/Cash at bank link and the Cash Accounts menu item remains.

Yes. No date…

Entering a date, e.g. for the period 1 June 2020 to 30 June 2020 does not resolve the issue.

The Start Date in the Starting Balances is earlier than any of the transactions. All of the starting balances are 0.00. Deleting the Start Date makes no difference.

.

Are you saying that deleting this transaction reduces both balances by 350 so that the difference remains?

In that case you will have to try an see where the difference come from.

I see that you have 1,728 receipts and payments but it if you examine the balance for the period half way from the first transaction and the last you will be able to say that the difference arises either before or after the mid-point.

Continue like this with whichever period has the difference until you have isolated the transaction which is missing. Even with 1,728 transactions it should be easy enough to narrow it down to a range of transactions

I am a bit intrigued by the description on the transaction - it is a receipt but the description says “Bank transfer to main acct” and yet it is a receipt from outside the business so not a transfer of funds within the business

I think @Joe91 may be on to something.

@scpantry, when did you close the old bank account? And was there an inter account transfer of $350 at some point? Did you have trouble with the final reconciliation of the old bank account?

No. The discrepancy remains with or without that transaction.

Excellent tip.

It seems to have been from payments for two really old sales invoices made about 2 weeks apart where the payments were not marked as “Accounts are tax inclusive”. I adjusted the figures to be GST inclusive and checked the box and all was fixed. Issue resolved.

Gold star award to Joe91 even though I am still puzzled how this happened and find it hard to believe that I could not have noticed this since September 2018 which is when those payments were received.

Making the changes does not seem to have altered anything other than correct the “Cash at bank” figure.

Issue resolved. :grinning: :grinning: :grinning:

The amount of the transaction was just a coincidence. The problem was caused by two payments of $2000 plus GST and $1500 plus GST not having their GST inclusive amounts included. I don’t know how this happened but altering the amounts to be GST inclusive and checking the tax included box fixed the issue.

As for the “Bank transfer to main acct” notation - I transferred money between two current accounts and these transactions are imported when I export the transactions from my bank account to Manager. It is not an internal transfer but an actual transfer occurs outside of Manager.