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Evo-ERP and DBA Classic >> Accounting >> What is my real bank balance?
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Message started by David Waldmann on 04/03/15 at 08:20:26

Title: What is my real bank balance?
Post by David Waldmann on 04/03/15 at 08:20:26

I've struggled with this general question ever since we started using DBA.

This year our accountant found something funny and it turned out that a transaction had been entered in GL-B to our cash account, but it was entered as a type GJ so it never showed up on the check register. The reason it didn't red flag us initially is that when it came time to reconcile the check register that month and we couldn't find it, I just assumed the transaction hadn't been entered at all, so it got reentered as a type CD.

My accountant was not very thrilled that such a thing could happen. And, considering it, I had to agree. Why are you allowed to make GL Journal entries to the cash account that will not show up on the check register? At least a warning, like it does if you try to select your AP or AR GL Account.

Anyways, I made some changes so that the above situation is much less likely to occur.

However, just today I found another problem. Haven't figured out where it is yet, but our online bank balance is more than the current GL cash account shows, and there is over $10k of outstanding checks.

So, a couple questions:
1. How do I go about trying to find this? We always use the Reconcile feature in Evo at the end of every month. I just reconciled the March statement and it is all balanced.
2. How do others find out what the "current" balance is of a cash account? Printing a check register doesn't do any good - it assumes a 0 balance at the beginning of whatever period you pick.

Title: Re: What is my real bank balance?
Post by Lynn_Pantic on 04/03/15 at 15:20:34

GL-I, Uncleared only, date range 00/00/00 through today, all types will have a beginning balance that matches your reconciled balance from the last reconciled bank statement and then list all your outstanding checks and deposits since the reconciliation resulting in a correct ending balance. You must be running it some other way if you don't have a beginning balance that ties back to the reconciliation. You have to use a 00/00/00 start date to get any old uncleared items. Same thing when you reconcile, you need to use 00/00/00 through statement ending date.

I agree, at least a warning in GL-B when entering a GJ as opposed to CD or CR would be a good idea.

Title: Re: What is my real bank balance?
Post by David Waldmann on 05/27/15 at 04:57:07

Interesting. I never would have guessed that using those options would give me the desired results.

Thanks!