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Article ID:                  4147

Subject:                    Imbalance between the bank account balance and the General Ledger (G/L) account balance

Last Modified:         December 19, 2013

Applies to:                Pro Gold i2 2.0, 3.0

Issue:  The actual bank account balance in Pro Gold i2 does not match the G/L account balance for the G/L account assigned to that bank account. 

Cause:  This behavior may occur when any of the following conditions are true:

•          Banking transactions are not posted in the G/L (Check Batch Post Icon on the Banking Tab for that bank account)

•          One or more bank transactions are future dated [e.g., 2008 or beyond]  (Check G/L Icon on the Accounting Tab using the date range filter for tomorrow’s date through infinity {e.g., thru year 9000})

•          A transaction has a posting error

-          Incorrect General Ledger account used

-          A non bank account transaction was posted to a Cash General Ledger account.

-          A beginning balance is posted under a Cash General Ledger account without a corresponding Bank Account adjustment.

Resolution:  Action to correct imbalance:

•          Use the Daily Checking vs General Ledger Balance Report under Banking Reports to find individual days that are out of balance.  Make a note of the amount out of balance for that day and use the G/L Icon on the Accounting Tab using the date range option for that day only to isolate and review the individual transaction(s) that may contain the erroneous G/L entry

•          Unpost and correct the individual transaction and repost it or enter a manual G/L adjustment to offset the posted entry

•          Beginning Balances on Cash Accounts should be entered as a Banking Adjustment in the Bank Account. Make a beginning balance was not entered under the Beginning Balance option in the Chart of Accounts for the Cash Account.

References:   Below is a link you can use to access Enhancement HelpNet Center resources, which includes the Knowledge Base Article (KBA) Library, Pro Gold i2 Documentation, and Training Webcasts:

   http://secured.progoldi2.com

•          The Enhancement HelpNet links are located on the right side of the web page.

Related articles: N/A

Keywords: Imbalance, out of balance, General Ledger, G/L, Bank Account Balance, 4147