Hi,

 New user - question about bank recs - I have cleared and saved all transactions on bank rec - but that's as far as I went for the year - and I had to close year end - can I still reconcille bank acc's for prior year end (all months)????? - thanks a bunch for your help!!

So I'm assuming by your posting that you have not actually posted the bank rec, this is fine. You can reconcile into the previous year just as long as you have not sent the data file to the accountant. Just make sure you have selected in the set up setting to allow transactions into the previous year.

Hi,

No I have not posted and not sent my files yet ...what session date would I use to reconcile - and I haven't checked off the box that says "do not allow transactions dated before" - is this right? ...so to reoncile your accounts all you have to to is click "post"?

You had stated before that you had cleared and saved your reconciliation, so i was assuming you went and checked everything off cleared in the bank rec for that particular month then saved the reconciliation itself and your unresolved is 0.00. You can only post once your unresolved is 0.00. Used the reconciliation date the last day of the month you are reconciling.

Make sense? If not let me know.

sorry...yes I have cleared and saved - but that's all I did - the bank recs haven't been done since Feb 1/08 - statement start date - I took over the books recently and need to do this as year end is oct 31 - and my unresolved is not at 0.00 it is at -3,084.38 - so - I need to look for this discrepency right?

The unresolved definately has to be 0.00. You need to figure out why its not before you can post and continue onto the next month.

 You are doing one month at a time,correct? Did you check your beginning and end balance in Simply to see if it matches the bank statement?

...I haven't done one month yet!!!! ....I only went into to Reconcile Accounts - check marked what went through the account (compared with bank statement) and saved it - when I go in to do this - the beginning start date is Feb 1 and Statement end date I have Oct 31 - so I have all these months to Reconcile - the beginning (Feb 1) and end balance (oct 31) match the bank statement (the end balance matches because I input that amount!!!! ......thanks for all your help - really appreciate this!!

You need to actually reconcile month by month. Enter in beginning date and ending bank statement. Same goes for beginning bank balance and ending bank balance.

So you are talking about February. Well you will need to reconcile february first. Enter in Feb 1, 2008 as your statement start date and feb 29th as your statement end date. Also enter in the beginning bank balance and ending bank balance. Once you have an unresolved at 0.00 then post. Continue onto March, and so on and so on.

....got ya!! ....thanks a bunch....

Hey girl,

k...I'm not sure what happened but the bank recs must of been done up to Feb 1 'cause the statement start date automatically came up as Feb 1 - so I've inputed Feb 29 as statement end date - as for the beginning bank balance - the balance was already up there (and I can't change it) but it matches the bank statement amount - and the ending balance I input the end balance from from the Feb bank statement  - I have cleared everything from that month - but there was transactions on that month dating back to Dec 06, July/Sept/Oct 07 - and I have an unresolved of -3,994.95 ...what do I do now?????...can I just post that like that and let the accountants find the problem and just do all my other months making sure every month is at -3,994.95 to the end of oct/08 - this way I would know that March to Oct is at 0.00???? ...help!!!!!! ....

That is correct that January Bank Reconciliation was already posted since it defalted to Feb 1 and the beginning balance is already set.

You have to leave those items left from July/Sept/Oct 07. Those will have to be further investigated as to why they never cleared the bank and would have to be adjusted in Simply. You are missing something in the bank rec since your unresolved is not 0.00. You will create more problems by just plugging the number and let the accountant deal with it.

 Is your discrepency 0.00 as well?

...yes...my discrepency is at 0.00 ....so I need to unclear those items from july/sept/oct??? ...can I unclear and reconcile the rest of the months (feb-oct)???? 

did you check off those old items? i'm confused. If you have checked them off as cleared, unclear them. This may be part of your unresolved issue. If they are not on the bank statement you cannot clear them.

...I've unchecked those items and now it's given me a discrepency of 2,000 ....I'm confused too...

that's great that you uncleared the old items. you need to find the 2000.00, is there an amount on the bank statement for the same or in the reconciliation for the same amount? double check to see, it's easier when it's a round number like 2000.00. You are on the right track and getting closer. Hang in there :)