▶ How should I approach looking for a bank reconciliation difference?
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How should I approach looking for a bank reconciliation difference?

When trying to locate a bank reconciliation difference, the report AccountsAny Bank can be an effective tool for identifying any discrepancies. 

If you are unsure which bank account(s) the discrepancy may lie in, follow all steps below. If you know the bank account which is causing the discrepancy, skip straight to step 3.


1. Run the Reconcile All Banks Report

By running the Reconcile All Banks report, Scribe will tell you the exact value of the discrepancy that you need to identify, as at the audit date entered. Download a copy of this report, or make a note of the closing bank balances entered.

2. Identify Scribe's Calculated Bank Statement Amount

By running the Accounts/Any Bank report for each bank account (using the Filter button), you can scroll to the bottom of the report to view what Scribe thinks the bank statement amount should be. If this does not match the bank statement balance, calculate the difference - is this the full value of the discrepancy or just part of it? You may need to run this report for other bank accounts to find the full discrepancy.

💡 If the bank statement figure matches what Scribe thinks the statement should show, but your Reconcile All Banks report is showing a discrepancy, this could be due to the cashed date. See Correcting an Incorrect Cashed Date for more information.

3. Compare Scribe Data to the Bank Statement

Using the Accounts/Any Bank report, select the bank account and enter a date range using the Filter button. For example, if everything reconciled fine up to August but a discrepancy appears in September, enter a date range of 01/09 - 30/09.

💡 We recommend running the Reconcile All Banks report to the end of the previous month, to ensure that nothing has changed since all last balanced. If a discrepancy appears, run the Reconcile All Bank report back to the end of each reconciliation period until the discrepancy disappears - this will help you identify which month(s) the discrepancy lies in.

Once you have applied the date range to match the period in which the discrepancy lies, you will be presented with a list of all transactions cashed within this period. This report can be downloaded or printed and compared directly to the bank statement - ticking off items which appear both in Scribe and on the bank statement.

As you go, make a note or circle transactions on the bank statement that do not appear in the Scribe report and vice versa. You may need to:

Once you have made the necessary corrections as above, you can re-run the Reconcile All Banks report and all should then balance.

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