One of the following fields is typically incorrect:
Statement Balance, Outstanding Checks, or Deposits in Transit
If the CA Balance in the Daily Cash Balances screen agrees to the CA Balance in the Bank Reconciliation screen, it is likely the error is due to a data entry error.
The following are guidelines that can be used to help identify the potential error:
1. Compare the Statement Balance on the Bank Reconciliation screen to the bank statement received from the bank.
2. If this is the very first bank rec, an O-type entry need to be entered to record the beginning balance of the bank account. If this is not the first bank rec, proceed on.
3. Compare the bank statement received from the bank to items in Cash Manager. The Check Deposit/Reconciliation report can be used or view the data on screen by selecting the 'Both' option on the top of the Bank Reconciliation screen and clicking on the Reconcile Deposits and/or Reconcile Checks buttons to view the item detail, comparing these items to the bank statement.