Balance Sheet Variance
The Bank Reconciliation Ending Balance does not match the amount on the Balance sheet. The Balance Sheet is a Period driven report, while the Bank Reconciliation is a Date driven report.
When a bank cash transaction (Deposit, Check, or Journal Entry) is posted to a date that does not fall within the posting Period, this causes a variance. For example, the period for a deposit is 2024.12, but the posting date is 01/15/2025. The amount would be included on the Balance Sheet for 2024.12, but not on the Bank Reconciliation ending 12/31/2024. This would cause the Balance Sheet to have a higher balance than the Bank Reconciliation Ending Balance.
To determine if this is causing your variance, use the G/L Transactions report two different ways.
1. Select a from Posting Date that is greater than the Bank Reconciliation Statement Date.
2. Select the period in which the Balance Sheet amount does not match the Bank Reconciliation Statement Balance.
3. Select the Bank Account in the Account drop downs.
This will return any transactions where the posting date was greater than the posting period. If this does not contain the variance, or only contains a portion of the variance, continue to the next process.
1. Select a Posting Date that is equal to the Begin Date Thru the Statement Date on the Bank Reconciliation.
2. Select a period greater than the period in which the Balance Sheet amount does not match the Bank Reconciliation Statement Balance.
3. Select the Bank Account in the Account drop downs.
4. This will return any transactions where the posting period was greater that the posting date.
If this is the reason for the variance, the Bank Reconciliation in question may be edited, the transaction(s) in question may be un-cleared, and then deleted. Repost the transaction(s) with the correct period and date. Complete the Bank Reconciliation. Alternatively, the above report may be printed out and included in the closing file, which will explain the variance.