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Andrew Fraser

Why are my General Ledger Cash Account balance and my Checkbook balance different? Part II

  • April 2, 2015
  • , 4:24 pm
  • , ERP, How Tos

In my last blog from February 2015, we discussed the variety of factors that can lead to your Checkbook balance and General Ledger Balance being different and what the corresponding results will be to both balances. In this blog, I would like to address the resolution for each of these issues.

Cash Receipts were posted in Accounts Receivable, but not deposited in the Cash Account:

  • Select Transactions – Financial – Bank Deposits
  • Select the Checkbook ID
  • Un-deposited transactions will be displayed at the bottom
  • Create Deposit with Cash Receipts
  • Post the Deposit

The General Ledger Setup is marked as Post To, and the General Ledger batch has not been posted:

  • Select Transactions – Financial – Batches
  • Locate any un-posted Batches that may affect the cash account
  • Post the General Ledger Batch

A transaction was created and posted in the General Ledger, but no entry was made to the Cash Account:

Note: First, it should be noted that a transaction should never be made in the General Ledger that affects the Cash Account balance as the General Ledger Module does not interface back to the Bank Reconciliation Module. This will lead to unbalanced accounts every time.

Select Transaction – Financial – General
Reverse the General Ledger Transaction by utilizing the Correct button
Select the “Back Out a Journal Entry” Action
Enter the Original Journal Entry Number
Click the Ok button
Post the Transaction
Re-enter the Transaction in the Bank Reconciliation Module:

  • Select Transactions – Financial – Bank Transactions
  • Enter a Bank Transaction utilizing the Increase and Decrease Adjustment Types

The General Ledger Setup is marked as Post To and the transaction was edited in the General Ledger prior to posting:

  • Select Transaction – Financial – General
  • Correct the General Ledger Transaction by utilizing the Correct button
  • Select the “Back Out a Journal Entry and Create a Correcting Entry” Action
  • Enter the Original Journal Entry Number
  • Click the Ok button
  • Correct the transaction to the original amounts
  • Post the Transaction

The Transaction in the Checkbook was posted with a different date than the transaction posted to the General Ledger:

• Select Transaction – Financial – General
• Correct the General Ledger Transaction by utilizing the Correct button
• Select the “Back Out a Journal Entry and Create a Correcting Entry” Action
• Enter the Original Journal Entry Number
• Click the Ok button
• Correct the transaction utilizing the correct posting dates
• Post the Transaction

The General Ledger account was used for both the Debit and Credit sides of the transaction in the Bank Reconciliation Module.

  • Select Transactions – Financial – Bank Transactions
  • Reverse the Bank Reconciliation Transaction
  • Recreate the Transaction utilizing the correct Accounts

A deposit with no receipts was posted the Bank Reconciliation Module, but not to the General Ledger:

Select Transactions – Financial – Bank Deposits
Select Void to reverse the Bank Deposit
Select the Deposit
Void the Deposit
Recreate the transaction in the Bank Reconciliation Module:

  • Select Transaction – Financial – Bank Transactions
  • Utilize the Increase Adjustment Type
  • Provide a detailed description
  • Post the Transaction

A Non-Cash Account transaction was posted to the General Ledger:

Note: First, it should be noted that a transaction should never be made in the General Ledger that affects the Cash Account balance as the General Ledger Module does not interface back to the Bank Reconciliation Module. This will lead to unbalanced accounts every time.

  • Select Transaction – Financial – General
  • Reverse the General Ledger Transaction by utilizing the Correct button
  • Select the “Back Out a Journal Entry and Create a Correcting Entry” Action
  • Enter the Original Journal Entry Number
  • Click the Ok button
  • Correct the transaction to the correct account not utilizing the Cash Account
  • Post the Transaction

A Posting Interruption occurred causing an unbalanced entry:

  • The resolution depends on the cause of the interruption. More analysis will have to be done to identify the cause of the issue.

ANDREW FRASER | Senior Business Software Consultant

As a Senior Business Consultant, Andrew is responsible for the implementation and support of CRM, GP, and other Microsoft products assuring that our solution scoping, architecting, and delivery meet and exceed customer expectations. He helps clients analyze their current business processes and provide them with process improvements. During his time at KTL, Andrew has built lasting relationships with clients by understanding their business needs and provided value by leveraging their existing resources. Andrew has more than nineteen years of experience in implementing business software for a variety of industries including service, government, distribution, not-for-profit and manufacturing.  He graduated with a Bachelor’s Degree in Math with concentration in Computer Science and a Bachelor’s Degree in Business Marketing from St. Andrew’s University in Laurinburg, North Carolina.  His experience includes helping companies embrace technology to fulfill their organizational needs and creating innovative solutions using CRM, GP and other Microsoft products.

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