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courtneylsheldon
October 26, 2023
Question

trial balance vs recon report vs bank statement

  • October 26, 2023
  • 1 reply
  • 0 views

My bank statement and reconciliation reports match but my trial balance is way off for the bank accounts. I recently took over for someone who left in Oct 2021 and started from there, one account looks like all 3 never matched and the other matches in May 2020 but everything is locked up until Jan 2021. How do I locate the issue? And how do I resolve it?  Please help. 

1 reply

J
JamesM4
October 26, 2023

Hi there,

 

Glad to have you reach out to us here. It's essential you're able to get the help you need so you can continue to run your reports with confidence. Rest assured, I'll be happy to point you towards the right direction.

 

Based on what you've described, I encourage you to reference the following variables that may be causing the discrepancies on your report: 

  • Reporting dates: It's important to make sure your report dates include the transaction in question.
  • Cash vs Accrual: Since the report amounts can report differently due to the accounting method, I recommend checking the method you're using on your reports. You can change this setting while running your reports by selecting the Cash or Accrual radio buttons under Accounting method.

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