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Bank Reconciliation Made Easy in Sage 50

by Thomas Lane - 24 May 2022, Tuesday 211 Views Like (0)
Bank Reconciliation Made Easy in Sage 50

Above all else, in the event that you're not utilizing the financial balance compromise highlight in Sage 50 you ought to be, except if obviously you would rather not make your life simpler. All things considered go ahead and continue to do them physically. Until the end of you, continue to peruse.

Here is an outline of the entire interaction. To begin a compromise, go to the Tasks menu and pick Account Reconciliation. Or on the other hand click on the Banking tab on the left side the Sage 50 window and afterward click the Reconcile Accounts button. Whenever the compromise window opens, select the record you need to accommodate from the rundown at the highest point of the window, and enter the assertion finishing date. At the lower part of the window, enter the closure balance from the bank articulation. Assuming you want to enter revenue or bank charges, click the twofold bolt button to extend that part, then enter them in the comparing fields.

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Presently you simply have to actually take a look at the container close to every thing that cleared on this assertion. When everything is accurately set apart as cleared, the unreconciled distinction in the base left corner will be $0.00.

Obviously, despite the fact that that is straightforward in principle, in actuality, it tends to disappoint. So here are a few hints that ought to make it more straightforward.

Sort by any segment. Tapping on any segment heading will sort in view of that section. Click it again to turn around the sort request. This way you can undoubtedly find an exchange by sum, date, or payee/portrayal.

Track down Button - If arranging doesn't get the job done for you, click the Find button at the highest point of the window. Then type in anything you desire to look for. It very well may be a really take a look at number, sum, date or payee. Recollect that this is a straightforward text search so you should type it precisely as it shows up on screen. Assuming that you are searching for March fifteenth 2015, you want to enter Mar 15, 2015 not 3/15/15. Deface 15 would likewise work since it will find incomplete matches. Also, for a sum you should incorporate commas.

  • Numerous Button - You can get an entire series free from exchanges without a moment's delay with the Multiple button. Pick the exchange type and afterward enter a beginning and finishing reference (generally a really look at number) or date range.
  • Import Button - If you can download an assertion from your bank in .OFX design, you can import it here to consequently clear matching exchanges.

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  • Add New Button - If you are feeling the loss of an exchange, the Add New button gives you easy routes to enter particular kinds of exchanges. However, you're not restricted to those. While more established adaptation of Sage 50/Peachtree made you close the compromise to enter new exchanges, presently you can enter new exchanges with the compromise actually open. Whenever you return to the bank rec, the information will consequently revive.
  • Clear Button - gives the decision of clearing or un-clearing all exchanges. In the event that your compromises are all around as basic as "clear all" you presumably wouldn't try understanding this. Be that as it may, if you are having issues and simply need to begin once again, the "un-clear all" choice is a big deal saver.
  • Checks and Bank Debits/Deposits and Bank Credits - In the upper left corner, you will see the quantity of cleared things alongside the complete dollar sum. Whenever you are experiencing difficulty getting your record accommodated, this will assist you with reducing you search. Your bank proclamation will give you these equivalent numbers, so hope to check whether your all out cleared checks matches the banks, and do likewise with stores. That can let you know where to search for the issue. Yet, remember that void checks can distract this number. At the point when you void a check, Sage 50 enters a matching negative check and stamps them both as cleared. The negative check gets generalized with the likes of the Deposits and Bank Credits. That implies both your cleared checks and went through stores will be higher than the bank's number by 1 exchange and how much the voided check.

On the off chance that you are experiencing difficulty matching up your stores, you might have your client receipts mistakenly gathered into stores. The Bank Deposit Report which is found in the Account Reconciliation report gathering will show you precisely which receipts are remembered for each store.

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