The General Bank Journal Balance and the G/L Do Not Reconcile
There is an imbalance between the General Bank Journal balance and the General Ledger control accounts (sum of the 10xx General Bank account balances). The imbalance can appear on the G/L Reconciliation report under the General Bank section.
An amount appears in the Journal/G/L column of the G/L Reconciliation Report when there is an imbalance between the General Bank Journal and the G/L. An imbalance can occur for the following reasons:
- You enter a General Bank G/L control account number (1000, 1001, etc.) in the G/L Account column when you enter General Bank transaction. This effectively debits and credits the same General Bank G/L control account creating a net zero effect on the G/L
- You allocate non-General Bank transactions to the General Bank G/L control accounts.
- You back-date a General Bank transaction into a closed month
- You enter an incorrect G/L Opening Balance for the General Bank control account
- You enter an incorrect General Bank Opening Balance
An imbalance cannot occur in the Client/Journal column of the G/L Reconciliation Report because there is not a client report that tracks General Bank entries.
Take the following preliminary actions before you troubleshoot an imbalance between the General Bank Journal and the G/L:
- Rerun the G/L Reconciliation Report G/L Reconciliation and check mark Reread G/L Information to ensure there is still an imbalance on the report
- Find the first date of the imbalance on the G/L Reconciliation Report
- Find the last month closed