Question:

What do I do if I can't get my bank reconciliation difference to zero?

Answer:

Step 1 (a): Verify that the Statement balance in CDM+ equals the ending balance on the bank statement.

Step 1 (b): Verify that the Total Cleared Debits and Credits equal the total deposits and withdrawals on the bank statement.

Step 1 (c): Verify that you have properly cleared voided transaction entries.

If you have verified the information in steps (a) through (c) and you still have a non-zero difference, move to Step 2.

Step 2: Select Accounting Troubleshooter and run Check Account Balances.

If fixing the account balances makes your bank reconciliation zero, file the bank reconciliation. If you have fixed any discrepancies with account balances and you still have a non-zero difference, then move to Step 3.

Step 3: Un-File and review the previous month’s bank reconciliation.

If this causes the difference in this month’s reconciliation to be non-zero, then go through Step 1 above. If you verify all information to be true for this month, then proceed to the next previous bank reconciliation month and un-file.

If this is non-zero, go through verifying the information in Step 1. You will continue this process until you find a month where there is a discrepancy between one of the items in Step 1.

When you have found and corrected the problem, you can File that month and move forward through your bank reconciliation months verifying a zero difference and filing them as you go.

For a more detailed explanation with screen shots, click here.