Bank reconciliation questions

Your saved bank statements are stored in the Attachments folder in the same location as your Sage Accounts data, for example if your data location is:

F:\Accounts\Accdata

The statement location is:

F:\Accounts\Attachments\Nominal\1200\Statements

You can check your Sage Accounts data path in Help > About.

To identify why a transaction doesn't appear, locate the transaction in Company > Financials then check:

• Type - Ensure it's a bank transaction. Only bank transactions appear in the Bank Reconciliation window. Find out more about bank transaction types
• Account - Ensure it's the correct bank account. The Bank Reconciliation window only shows transactions for the selected bank.
• Date - The date of the transaction should be on or before the reconciliation date.
• Amount Paid - If the date and reference are the same as other bank transactions, then the transactions may be grouped together in the Bank Reconciliation window. If the transaction is grouped, only the total value of the grouped transactions appears in the Bank Reconciliation window and this won't be the same as the Amount Paid column in the Financials window for the individual transactions.
• Bank - Check the reconciliation status in the Bank column. For the transaction to appear in the Bank Reconciliation window, this must be N.

If you have reconciled bank transactions in error, you can either:

• Edit individual transactions in the Corrections module - To reverse the reconciliation of an individual transaction edit the transaction in Company > Make Corrections option > clear the Bank rec on check box.
• Restore a backup - If you took a backup before starting the reconciliation process, to undo the reconciliation, restore the backup.

To identify why there is a value in the Difference box you should check:

• End Balance - This may have either not been entered or entered incorrectly. Check that this is the same as the end balance on the statement from your bank.
• Last reconciled balance - This should agree with the opening balance on your bank statement and should also be the same as the matched balance from the previous period.
• Adjustments - Ensure that any adjustment postings for bank charges or interest received have been posted.
• Matched transactions - Ensure all the matched transactions appear on your bank statement.
• Transaction values - Ensure all matched transaction values match the values on your bank statement.

The last reconciled balance is the balance of all previously reconciled transactions. This balance also includes any items reconciled in the future. It should be the same as the End Balance and the Matched Balance for the previous month.

There are four reasons why it may be incorrect:

• Previously reconciled transactions have been amended or deleted.
• Additional transactions have been reconciled since the last reconciliation.
• The Matched Balance from the previous reconciliation was incorrect.
• The data has recently been submitted for repair and reconciled transactions have been deleted.