To ensure that your Cashbook Balance and Bank Statement Balance are correct, you must enter your Cashbook Balance, Unreconciled Transactions and a Contra Entry for the Unreconciled amounts.
This is done via a take-on batch.
To select, click on the Batch Entry icon on the Transactions Menu, or press Alt together with the underlined letter in the title of the menu you want to open, E, then press the first letter or the underlined letter of the menu command, C. The Batch Entry displays.
Note - We suggest that this take-on is done in the prior month, i.e. if you want to create your Cashbook for May, enter this take-on batch in April, to avoid reflecting these transactions on any reports.
Enter your Cashbook Balance, this can be taken from your manual Cashbook, if stand-alone, or taken from your Bank Account Balance in the Sage 300cloud General Ledger.
Enter all your un-reconciled items i.e. all those transactions not yet on your Bank Statement.
Enter a Contra Entry for the exact amount of your un-reconciled entries.
If the total of un-reconciled items is a net payment, your contra entry must be a receipt, (or vice versa).
|
Cashbook Balance |
10,0000.00 (Credit) |
|
Unreconciled Transactions |
500.00 (Credit) |
|
Contra Entry (Use any account code for entry) |
500.00 (Debit) |
After completing the entry, print the batch from the File menu to check your batch details.
Once you satisfied that the batch is correct, proceed to post it.
Post this Take-on batch using the Post Batches function on the Entries Menu.
You must now reconcile the Cashbook Opening Balance amount as well and the Contra Entry amount.
Go to your Cashbook display and use the Reconcile function to reconcile these amounts.
You can now check that the two balances equal your Cashbook balance and Bank Statement balance respectively.
Finally, if interfaced to Sage 300cloud General Ledger, print and clear (without Transferring) the G/L Transactions, this will avoid duplication of transactions to the General Ledger.