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Thread: PASTEL ACCOUNTING QUERY

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    PASTEL ACCOUNTING QUERY

    Hi,

    I have a bit of a dilemma. My cashbook balance balances with the bank statements but when I try do a bank reconciliation it shows a difference of R5000.00 between the statement balance and the computer balance.
    How can this be possible if the cash book balances?

    Any help would be appreciated

  2. #2
    Platinum Member Neville Bailey's Avatar
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    I suggest that you run the following two reports for the month in question, and then compare the opening and closing balances on the two reports:


    • Cashbook Detailed Report (View...General Ledger...Transactions...Cashbook Detailed Report).
    • Detailed Ledger Report for the cashbook account (View...General Ledger...Transactions...Detailed Ledger).


    You will, most likely, find that the closing balances differ between the two reports and that the closing balance of the Detailed Ledger report agrees with your bank statement.

    The bank reconciliation refers to the Detailed Ledger Report (not the Cashbook Detailed Report) when it makes the comparison to the bank balance.

    Possible reasons for the two closing balances not agreeing include:


    • A non-cashbook journal (i.e. general journal) has been posted directly to the detailed ledger for the cashbook.
    • A payment from another cashbook to the cashbook in question has been allocated directly to the general ledger of the cashbook in question. Any inter-cashbook payments must be processed via a clearing account. In other words, the payment must be processed as a cashbook payment journal in the "paying" cashbook and allocated to a designated clearing account (not directly to the "receiving" cashbook account), and a corresponding cashbook receipt journal must be processed in the "receiving" cashbook and allocated to the same clearing account. This will ensure that both the payment and the receipt appear in both the Cashbook Detailed reports.


    Please let me know if I have missed the boat completely in my diagnosis and we can look at other possible causes.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
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    "Give every person more in use value than you take from them in cash value."
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    Hi Neville,
    With our year end almost here...I have a dire problem with Pastel Xpress version 12. It will no always print a purchase order. I have been using this version for more than a year now and always print my purchase orders to a pdf printer. Some of the purchase orders do print but most wont. When I click print the screen that gives you the option to print or emails does not even come up. Nothing happens, just a quick flash of the pdf version of the p/o then its gone.
    Please can you assist???
    Thanks Desre

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    response to pastel account query

    Hi Neville

    Thanks for your feedback but the problem is that the detailed general ledger amt does not balance with the bank statement only the cashbook detailed report balance. So if you look on the trial balance as well it shows the incorrect balance. Would I go through the same process as you described hereunder? I don't understand how come it has done this. I do recall from my previous company that we had a suspense account that we used to enter the trsf between accounts amts and then take them out.

    Cindy
    • Cashbook Detailed Report (View...General Ledger...Transactions...Cashbook Detailed Report).
    • Detailed Ledger Report for the cashbook account (View...General Ledger...Transactions...Detailed Ledger).


    You will, most likely, find that the closing balances differ between the two reports and that the closing balance of the Detailed Ledger report agrees with your bank statement.

    The bank reconciliation refers to the Detailed Ledger Report (not the Cashbook Detailed Report) when it makes the comparison to the bank balance.

    Possible reasons for the two closing balances not agreeing include:


    • A non-cashbook journal (i.e. general journal) has been posted directly to the detailed ledger for the cashbook.
    • A payment from another cashbook to the cashbook in question has been allocated directly to the general ledger of the cashbook in question. Any inter-cashbook payments must be processed via a clearing account. In other words, the payment must be processed as a cashbook payment journal in the "paying" cashbook and allocated to a designated clearing account (not directly to the "receiving" cashbook account), and a corresponding cashbook receipt journal must be processed in the "receiving" cashbook and allocated to the same clearing account. This will ensure that both the payment and the receipt appear in both the Cashbook Detailed reports.


    Please let me know if I have missed the boat completely in my diagnosis and we can look at other possible causes.[/QUOTE]

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    Red face

    Quote Originally Posted by Cins79 View Post
    Hi Neville

    Thanks for your feedback but the problem is that the detailed general ledger amt does not balance with the bank statement only the cashbook detailed report balance. So if you look on the trial balance as well it shows the incorrect balance. Would I go through the same process as you described hereunder? I don't understand how come it has done this. I do recall from my previous company that we had a suspense account that we used to enter the trsf between accounts amts and then take them out.

    Cindy
    • Cashbook Detailed Report (View...General Ledger...Transactions...Cashbook Detailed Report).
    • Detailed Ledger Report for the cashbook account (View...General Ledger...Transactions...Detailed Ledger).


    You will, most likely, find that the closing balances differ between the two reports and that the closing balance of the Detailed Ledger report agrees with your bank statement.

    The bank reconciliation refers to the Detailed Ledger Report (not the Cashbook Detailed Report) when it makes the comparison to the bank balance.

    Possible reasons for the two closing balances not agreeing include:


    • A non-cashbook journal (i.e. general journal) has been posted directly to the detailed ledger for the cashbook.
    • A payment from another cashbook to the cashbook in question has been allocated directly to the general ledger of the cashbook in question. Any inter-cashbook payments must be processed via a clearing account. In other words, the payment must be processed as a cashbook payment journal in the "paying" cashbook and allocated to a designated clearing account (not directly to the "receiving" cashbook account), and a corresponding cashbook receipt journal must be processed in the "receiving" cashbook and allocated to the same clearing account. This will ensure that both the payment and the receipt appear in both the Cashbook Detailed reports.


    Please let me know if I have missed the boat completely in my diagnosis and we can look at other possible causes.
    [/QUOTE]

    OR......you've posted to the wrong period in either the Payments or Receipts side of the Cash Book like I did!!!

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