Transactions Missing from Account Reconciliation in Sage 50
It’s not hard to guess why Sage 50 is extremely popular among the business community all over the world. It helps businesses and professionals accomplish their accounting tasks in a more efficient manner. Sage 50 is also appreciated for its user-friendly interface. Even a novice accountant can operate this software with utmost ease. However, as per the feedback received from a section of Sage users, they are finding an issue while performing bank reconciliation in Sage 50. They have informed us that certain transactions are missing from the account reconciliation or bank reconciliation window. In this blog, we are going to discuss why this issue occurs and how to fix it once and for all.
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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-
- If the date of the transaction is not matching with the reconciliation period.
- If the transaction is entered against the wrong account.
- If the type of transaction is not approved by a bank.
- If the start and end dates of a statement are the same
- If the transaction is grouped with other transactions
- If the transaction has been reconciled already
- If outstanding statements are not added after the reset of the bank reconciliation
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 >>Company, Information)
- 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.
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.
