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 Overview

If the beginning balance on the Bank Recap Report is incorrect, use the following procedure to make the correction. If the beginning balance is incorrect, the Bank Reconciliation Report cannot be balanced.

 Before You Begin

Print the Bank Recap Report and compare the beginning balance on the report to the ending balance on the previous month's bank statement. The beginning balance is incorrect if it does not match the ending balance.

 

To correct the beginning balance

1. Calculate the difference between the ending balance on the bank statement and the beginning balance on the Bank Recap Report.

2. Select Bank Reconciliation Main menu > Bank Code Maintenance.

3. In the Bank Code field, enter the bank code that has the incorrect beginning balance. For more information, see Bank Code Maintenance – Fields.

4. Write down the amount displayed in the Current Balance field.

5. If the beginning balance is greater than the ending balance, subtract the difference calculated in step 1 from the current balance amount. If the beginning balance is less than the ending balance, add the difference calculated in step 1 to the current balance amount.

6. Type the new current balance in the Current Balance field, and click Accept.

7. Select Bank Reconciliation Reports menu > Bank Recap Report.

8. Enter the information in the appropriate fields. For more information, see Bank Recap Report – Fields.

9. If Range is selected in the Document Date Operand field, do not enter a starting date. Enter an ending date in the second Value field only.

10. Click Print. Verify that the Beginning Balance amount on the report matches the ending balance on the bank statement.

The beginning balance is corrected.