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Help desperately needed with Bank Recs in Sage Instant!

I am sorting out the accounts on Sage Instant for my client, and they are in a real mess. Now I have to try and sort out the Bank Recs. There are no reports saved or printed anywhere. I can see that the last lady has ticked items off the bank statements, and has marked items as Bank Rec'd in Sage, but I think she just did this (is that possible??) without following the Sage process. I haven't actually done a bank rec before through Sage, and I really do not know where to begin. The accountant muttered something about exporting it to Excel and ticking it off and then sending it back in, but I'm not really sure what he meant. Can anyone help me? I am beginning to panic! Also, when I call up the Reconcile function in the Bank module, the last Reconciled Balance is showing as -1433`.27.

Where can I start to sort this mess out?

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25th Feb 2013 20:06

Don't reconcile on sage yet

Print the sage transactions.

Do a bank reconciliation manual.

When you get the bank reconciled at the latest date make the corrections in sage then you can ensure everything is marked as reconciled in sage that should be reconciled.

Then you can move forward with reconciling on sage

If you can't get it to reconcile I would do the following.

Put the bank statement into excel

Export sage to excel

Then you can put the transactions in a block:

bank statement transactions in top left of the spreadsheet

sage transactions in bottom right of the spreadsheet

then add a lot of rows at the top

as you reconcile both sides of the spreadsheet move the lines to the top side by side; if there's more than two lines one one side then group them together

you can see what the differences are by adding one side and taking off the other in a formula on the right

total all amounts (and note them) to ensure nothing goes wrong

 

 

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25th Feb 2013 21:45

Thanks for your reply. I am very much a newbie and am struggling with this bit of Sage.

Can  you please explain what you mean by the first parts of your reply - i.e. do a bank reconciliation manual - do you mean just look at the bank statements and if they are entered on sage then mark them as reconciled? (and how exactly do you do this??!)

I would appreciate your help - I need  very basic step by step instructions I'm afraid!

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First part

Peter is saying print a list of transactions from Sage and then reconcile/match those entries against the entries on the bank statements - manually tick items off against each other.

That way once you have (tried to) reconciled the bank statements you will probably be left with a number of items on the sage transaction list which aren't on the bank statement and items on the bank statement which are not on the sage transaction report.

Hopefully you can then make adjustments in Sage for the reconciling items by posting additional receipts and payments.

If you can't get this to work, then you have to follow Peter's second option and reconcile in excel.

 

 

 

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Bank Statements into Excel

 

Rather than manually entering in your transactions from your bank statements into excel you should try AutoRec.

AutoRec extracts transactions from bank and credit card statements so you do not have to type those transactions up manually.

AutoRec allows you to:

·         Extract data from paper or PDF statements in minutes

·         Easily track cheque payments

·         Assign VAT

·         Assign nominal codes

·         Do full payments and receipts analysis

·         Export data to many other software packages such as Digita, Excel, IRIS Accounts Production, Relate Accounts Production, Sage Line 50, Sage Accounts Production, Viztopia, VT, Xero, ClearBooks

 

Register for a demo here http://ocrex.com/autorec-demo

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By VD
27th Nov 2015 14:21

Changing code on a reconciled item

Hello All,

My director wants me to use another nominal code for our new project video. Unfortunately that wish come just now and I already reconciled all video expenses under same code.

I checked the entries, unfortunately sage doesn't allow us to make any changes on reconciled items. Can anyone tell me how I can change the nominal code on a reconciled item?

Is there any other way of doing it.

Thanks in advance.

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