Transactions Missing from Account Reconciliation in Sage 50

Sage 50 Transactions Missing from Account Reconciliation

Usually the users of Sage notice that during the Recording, Analyzing or even summarizing that transaction, it is quite important to evaluate the financial status of the business. Nevertheless there are times when the users come across certain errors when preparing the finances for the tax returns. This is a commonly occurring error that one faces when recording the finances. So what do you do when the Transaction Missing From Account Reconciliation in Sage 50? Let us take a closer look at the aspect.

Here we go!

Causes of Transactions Missing from Account Reconciliation In Sage 50

The following points will tell you why you can’t find transactions in the account reconciliation of bank reconciliation window-

Read More : Transaction Manager for Sage 50 Service

How to Fix the issue of Transactions Missing from Account Reconciliation in Sage 50?

Here, we are providing multiple remedies to solve this issue-

Solution I: Verify the following details in Reconciliation & Deposit Window

  • Check if the correct account is selected.
  • If the Statement Start Date and bank statement start date is matching 
  • If the Statement End Date is the same as that of your bank statement end date and is not matching with the Statement Start Date.

Solution II: Verify if Certain Transactions affecting the Account for this Period

  • Go to the Reports section 
  • Click Financials.
  • Choose Transactions by Account / General Ledger
  • Choose the account.
  • Make the Start and Finish dates the same as that mentioned in your bank reconciliation.
  • Checkmark the Corrections box
  • Click OK.
  • If you can see transactions on this report, run the Advanced Database Check
  • In the General Ledger report, set the Finish date to the Latest Transaction Date ( which can be viewed in Setup >>Settings >>CompanyInformation)
  • If you can see transactions on this report, this company may not have any transactions for the chosen period 
  • Please check if the incorrect transactions have been entered with the wrong dates, in the wrong company file

Solution III: Verify if the General Ledger Mentions Correct Accounts for the Transactions

Verify if the general ledger mentions correct accounts for the transactions:

  • Go to the Reports section 
  • Click on Transaction Details /Journal Entries
  • Click All
  • Choose the correct year
  • Click on Date for Report By
  • Provide the correct Start Date and also the Finish Date
  • Click on Corrections for Show
  • Click OK
  • Verify if the correct accounts are mentioned in the transactions

Solution IV: Check if Transactions were Posted during Bank Reconciliation

  • Go to the Account Reconciliation window (Reconciliation & Deposits)
  • Click Save 
  • Close the Reconciliation & Deposits window
  • Open the Reconciliation & Deposits window again
  • Check if the transactions are showing now.

Why a Bank Account doesn’t Reconcile

Here are the Steps to be taken if your bank account does not  reconcile within Sage Accounting

As you try and reconcile, you are in fact confirming that transactions within Sage Accounting matches with those within your bank statement. Once everything matches, the starting balance will match the closing balance. To confirm this, take note that the difference will be zero.

Now, there are times when the difference is not, zero, this could be because:

  • The statement end date is in- correct
  • The statement end balance is in- correct
  • The starting balance does not tallies with the opening balance within your bank statement
  • You might have saved a previous reconciliation with a difference
  • You might saved a previous reconciliation with a wrong date
  • Certain transactions have the wrong date.

Why don’t Transactions appear in the Bank Reconciliation Window?

There are various aspects to this, let us take a look at the most common reasons for missing transactions:

  • The Date – The transaction date does not match with the reconciliation period
  • Wrong Bank – The transaction has been entered against the wrong bank account
  • Transaction Type – The specific transaction is not a bank transaction
  • Grouped Transactions – The transaction has been grouped with other transactions. 
  • Reconciled already – The transaction has already been reconciled

This can normally be resolved by following the steps below:

Why your Transaction Does not Show?

In order to identify why a transaction does not appear within the Bank Reconciliation window, within the Transactions locate the transaction(s) that should be displayed, then check the following columns:

  • Type – Make sure that it is a bank transaction. Only bank transactions will appear with in the Bank Reconciliation window
    EXAMPLE: BR, BP, CR, CP, VR, VP, SR, SA, SP, PP, PA, PR, JC or JD
  • Account / Nominal – Make sure that it is the correct bank account. The bank reference will appear  within any of these columns, according to the transaction type. The Bank Reconciliation window only displays transactions for the specific selected bank.
  • Date – The date of the transaction should be either on or before the reconciliation date.
  • Amount Paid – In case the date and reference are the same as other bank transactions, then the transactions can be grouped together within the bank reconciliation window . In case the transaction has been grouped, only the total value of the grouped transactions will appear within the Bank Reconciliation window and this will not be the same as the Amount Paid column in the transactions or financials window.
  • Bank – Check the reconciliation status in the Bank column

The Bank column can display one of the following:

Bank ColumnDescription
RThe Transaction has previously been reconciled.
NThe Transaction has not been reconciled yet.
The Transaction isn’t applicable for bank reconciliation.
1. In order to appear within the Bank Reconciliation window, the transaction should be N, as only transactions that have not been reconciled are displayed within the Bank Reconciliation window.
2. In case the transaction is displayed R or ‘-‘, then this can be a reason why it is not showing.

Further Steps:

In case the transactions still do not appear after checking the reasons above, you might have corruption in your data. In order to check this:

  • Start by clicking on File 
  • Next click on Maintenance 
  • Finally, click Check Data

Enter Beginning Transactions in Account Reconciliation

In order to do this, you need to:

  • Go to the Tasks men
  • Next select Account Reconciliation. Sage 50 displays the Account Reconciliation window.
  • Now, Enter or select the account you wish to reconcile. 
  • In order to display a list of existing accounts, type ? within the G/L Account ID field, or select the Lookup option.
  • In case you have just started entering data within Sage 50, if this is your first reconciliation of this account, and if you have a nonzero unreconciled difference, you might need to enter the beginning transactions in order to resolve the reconciliation.
  • Bear in mind that the Beginning transactions should include every one of the following criteria:
    • The outstanding transaction amount has been originally entered as part of the general ledger account beginning balance.
    • The outstanding transaction is dated before the general ledger beginning-balance date.
    • The outstanding transaction has not cleared the bank as of this statement, this is the first statement you are trying to attempting to reconcile in Sage 50.
  • In order to enter the beginning transactions, select the Beginning Transactions option located at the bottom of the Account Reconciliation window.The Sage 50 displays the Beginning Transactions window.
  • Next enter an amount, description, and reference for each outstanding transaction not listed in the statement.
    • Amount: Here you need to enter the amount that corresponds to the adjustment or beginning transaction.
    • Description: Here you need to Enter a brief description of the purpose or nature of the transaction.
    • Reference: It is here that you Enter the check number, deposit ticket ID, or other reference that identifies this transaction. Also avoid duplicate references ,for example, DEPOSIT or CASH. Each reference should be unique.
  • Next, enter the date when the outstanding transaction took place. The date should be within the current or previous accounting period.
    The Beginning transactions are generally dated before to the general ledger beginning-balance date, which is usually just before the first day of the first period when you are entering data in Sage 50.
  • Once you have finished entering beginning transactions, click on OK. Now, each beginning transaction will be displayed in either the Checks and Credits or Deposits and Debits section and be added on to the outstanding Checks or Deposits in Transit totals.
  • Next, be sure to not select the Clear check box next to these items, as  they were not listed on the bank statement. Once you reconcile the next monthly statement of the following period, you need to select the Clear checkbox when the bank statement indicates that the transactions have cleared.
    • Note: The beginning transactions are not posted on to the General Ledger. They are used only when initially reconciling an account. Once you have reconciled an account in two or more periods, the beginning transactions should be cleared.
  • Once you have successfully reconciled the account, the unreconciled difference is zero, next click OK to close the window.
    • Note: In case you are interrupted in the middle of reconciliation, click OK, and exit the window. After this, while still in the same accounting period, one can resume where you left off. All the cleared items and other reconciliation details for the account will remain. Likewise, you can also change the accounting periods in order to edit previous account reconciliations, if required.

Also Read : Sage Pay Error Codes and its Cause with Solution

Final Words

We hope, after going through the blog, you have received a fair idea of why certain transactions get missed from account reconciliation and how to fix this issue. If you are stuck at any point, you may contact any experienced Sage professional.

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Frequently Asked Questions (FAQs)

How to Delete a Transaction in Sage 50

Please follow the steps below to delete a Transaction in Sage 50
1. Navigate to the Task Menu 
2. Click on Edit Register
3. Now, click to select the relevant bank account
4. Click Ok to proceed
5. Now, locate the transaction to delete, in the row that matches the transaction
6. Click to select the transaction to delete
7. Right-click on the black arrow for this transaction
8. Click on Delete Row 
9. A prompt will pop up. Click yes to delete
10. Select Finish 
11. Click Start to print the journal or if you want to save it as a file
12. You can post the reversing Cash Management entries with the General Ledger 
13. After deleting the entries, you may need to delete the bank balances as well

How to Make an Account Inactive in Sage 50?

Please follow the steps given below to make an Account inactive in Sage 50
1. Open Sage 50
2. Navigate to the Maintain menu
3. Click on Chart of Accounts
4. The window named Maintain Chart of Accounts will come up on your screen
5. Enter/choose the account ID you wish to make inactive
6. To go to the list of existing accounts, click on the G/L Account ID field 
7. Now type ?. Alternatively, you can click on the Lookup button.
8. Checkmark the Inactive box to the right of the selected Account ID

How to Unflag a Transaction Made in Sage 50?

Please follow the steps to unflag a Transaction made in Sage 50
1. Navigate to the navigation bar 
2. Click on Transactions
3. Choose the required transaction 
4. Click on Edit.
5. Unmark the Bank rec on the check box
6. Click Save 
7. Click Yes
8. Navigate to the navigation bar again
9. Click on Bank accounts
10. Double-click on the bank account 
11. Click Memo.
12. Double-click on Statements
13. Right-click on the statement to remove
14. Click Delete.
15. Click Save
16. Finally, click Close.

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