Sage 300 Book Balance Doesn't Reconcile with the General Ledger
Summary
The Sage 300 bank reconciliation book balance does not agree with the general ledger (GL) account used for the bank.
Cause
The book balance should reconcile with the GL bank account balance, unless:
- a receipt was created with a deposit date that is different from the posting date
- a bank reconciliation from a prior period was incorrect
- a bank entry was made and was not posted to GL
- a journal entry to the bank account was made directly from GL which only affects the balance in GL
Resolution
Make sure you have posted any unposted bank entries to GL that was created in Bank Services.
Where there is a difference the book balance and GL account balance, it may cause bank reconciliations for future period to retain the same discrepancy between the book balance and GL account balance
The issue can be resolved by creating a bank entry to adjust the book balance to reconcile with the amount found in General Ledger.
- Backup the Sage ERP Accpac database
- Enter a Statement Balance to adjust the Adjusted Statement Balance to equal the Adjusted Book Balance
- Create a bank entry, the amount should be the difference between the book balance and the GL amount.
- Post the bank reconciliation
- Delete the GL batch
Note: Make sure there are no transaction reconciled or bank entries made prior to performing the steps above. Otherwise the bank entry amount will be different.