BANK RECONCILIATION

[baba lee]

Good day guys.
Can someone assist me.

I recently started work at my company as an accountant doing postings on pastel among other stuff.

My problem now is that I am not well versed in pastel accounting and what I have discovered is that the previous accountant has not been doing bank reconciliation for a long time, more than a year. I am now starting to do bank reconciliation but there is a huge difference between my cash book and bank balance which I can not trace due to the fact that bank reconciliation has not been done for a long time.

Is there any way I can reset the cash book balance to match the bank balance and move over from there since bank reconciliation has not been done for a long time.

[VLW]

Good day guys.
Can someone assist me.

I recently started work at my company as an accountant doing postings on pastel among other stuff.

My problem now is that I am not well versed in pastel accounting and what I have discovered is that the previous accountant has not been doing bank reconciliation for a long time, more than a year. I am now starting to do bank reconciliation but there is a huge difference between my cash book and bank balance which I can not trace due to the fact that bank reconciliation has not been done for a long time.

Is there any way I can reset the cash book balance to match the bank balance and move over from there since bank reconciliation has not been done for a long time.

No, check your bank balance month by month to see where the problem started and take it from there.. month by month. You cannot quickfix this.

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[Charmaine22]

Hi there I would like to know what should I do if closing balance differs with a R1000? I was on maternity leave and my boss did the cashbook and bank recons but she banked R1000 to much. How do I fix this

[belza81]

Hi there I would like to know what should I do if closing balance differs with a R1000? I was on maternity leave and my boss did the cashbook and bank recons but she banked R1000 to much. How do I fix this

Check all your Pastel cashbook entries for the period against bank statement manually. If you identify the entry that was post with wrong amount - reverse the entry by doing e.g. receipt with a minus amount and enter again with the correct amount - both entries using exactly the same reference as the original incorrect entry and the same date.

Should sort out bank recon difference. If no differences can be found and all entries agrees with bank statement transactions - look at your bank GL account for any entries that was posted with another entry type that's not a payments or receipts cashbook entry type.

Hope this helps!