“What isn’t tried won’t work.” – Claude McDonald
Has your Microsoft Dynamics GP General Ledger Cash Account Balance not matched your Bank Reconciliation Checkbook Balance before and you weren’t sure where to look?
Here are 4 common reasons why they might not add up and things you might want to try for a solution to this problem.
Unposted batches in the General Ledger. There are some transactions (e.g. Payables Management Computer Checks) that post to both the Bank Reconciliation and the General Ledger. When these items are posted in their originating module, they automatically post in Bank Reconciliation affecting the balance; HOWEVER, depending on how you have your posting options setup, they may sit in an unposted batch in the General Ledger. This is easy to solve: Simply post your batches in the General Ledger.
Deposits haven’t been created in the General Ledger. This is a similar scenario to the previous reason, but somewhat in reverse. When payments received are entered in Receivables Management, Sales Order Processing and as receipts in Bank Reconciliation, they are sent directly to the General Ledger but placed in a holding spot to be entered on a deposit. Why? For easier bank balancing (and easier bank transactions analysis). Deposits in the Bank Reconciliation module should match the actual deposits with the bank. However, the General Ledger module may need to be setup to show the detail of receipts or set to “summary” depending upon your needs or desires. The solution: Check your Bank Deposit Entry window for any receipts not deposited.
Coding Error: You should never manually enter the Cash GL account. It will always default automatically when the Checkbook ID is referenced.
A General Ledger journal entry was coded to the GL Cash account. If you are using Bank Reconciliation, this is a BIG NO NO!
A Distribution Entry for a non-GL module was coded to the Cash GL account for a line other than CASH for the Distribution Type. Also a BIG NO NO!
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