Correcting Differences in Bank Account Reconciliation

This section is an extension of the Reconciling a Bank Account section and attempts to guide the user when a bank account does not balance correctly. Evaluate each reason listed below and if the condition is true follow the steps recommended.

Are all the deposits and checks outstanding that are NOT checked?

Make sure that all deposits and checks that are checked are listed on the bank statement.

Are any returned deposits or checks missing?

Make sure all deposits and checks that are listed on the bank statement are switched ON and not missing from the list. Note that any missing outstanding deposits or checks will not affect reconciliation until they are listed on the bank statement.

Do all deposit amounts match the amount listed on the bank statement?

Verify that all deposit amounts that have been switched ON match the bank statement. Note that any entry errors will not affect the bank reconciliation until they are listed on the bank statement.

Have any manual check amounts been entered incorrectly?

It is important that the amount that was hand written on a manual check matches the amount that was entered in the computer. This possible error will not happen with computer-generated checks since the same software prints the checks and updates the outstanding list of checks

Was the beginning balance for the bank account entered before?

The statement will not balance if the bank account is being reconciled for the first time and the beginning balance was never entered properly. To adjust the bank account balance, click on the Adjustments button to open the following dialog:

I tried everything but the account does not balance, so what should I do next?

Complete the following steps as a last resort to reconcile the bank account. Contact an EBMS consultant if the bank account does not balance on multiple occasions using different monthly bank statements. To adjust the bank account balance, click on the Adjustments button to open the following dialog:

Contact your accountant or EBMS consultant if the bank account does not reconcile on a regular basis or if the difference is a sizable amount.