Sage 50 Bank Reconciliation Issues, Resetting, and Setup
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Sage 50 Bank Reconciliation is easy to do with the solution given by the support team. Do follow the steps as prescribes by us below to resolve it easily. The solution is correct and up-to-date also if you follow all Sage 50 Reconcile Bank Account instruction then you never face Sage 50 Bank Reconciliation Issues.
Create the backup of your account data because in resetting the data will be lost.
Make the outstanding transactions list
Click on the Reports, Banking and then go to the Account Reconciliation Report option
Summary report with outstanding transaction detail is the type of report you need to use
Click on the bank account and then enter the correct start and the end date in it
To view, the report click on the OK button
If you want to print it then click on the Print or you can also open it in excel.
Clear the Bank Reconciliation
For this, double-click on Charts of Accounts and then also click on your bank account
Click on the tab named Reconciliation and Deposits
Un-tick the Save Transaction for Account Reconciliation
Select the button Save & Close to close the account and then select the OK button to remove all the information of reconciliation.
A bank account needs to be re-enabled for reconciliation
Select the bank account and then go to the Reconciliation & Deposit tab
Now tick-mark the checkbox Save Transaction for Account Reconciliation
A Set-up button appears at the bottom of the page click on this button and does the setup
Now click on the Save & Close button to close the account
Then close this window as well by clicking on the X at the top right corner of the window.
Note: In case you have a single business credit card then automatically that card will appear in the field. Also you can check How To perform Credit Card Reconciliation in Sage 50.
For Bank Reconciliation Setup
Firstly, double-click o the Account Reconciliation journal
Then choose the bank account for which you want to do this setup
Now enter the start and the end date of the statement and also enter the Reconciliation date
Also, enter the Statement opening and the closing balance from the report by the financial institution
List all the outstanding issues that are before the start date and click on the button named ADD Prior Outstanding
A pop-up window asks “Do you want to save the changes?” Then do click the Yes button
After this, set the Show Resolved Transaction On or after
Do select the option Resolved Transaction and then select the Resolved Transactions
Click on the Add option to move it to the Outstanding Transactions
If any outstanding transaction doesn’t appear in the list then click on the Insert Statement