Why Your Bank Reconciliations in Timberline are out of Balance

Top 5 Reasons Why Your Bank Reconciliations in Timberline are out of Balance

Written by: Olivia Roemer, CCIFP – Sage Timberline Certified Consultant

bank reconciliations in timberline

In my years of consulting for Sage 300 Construction and Real Estate (Timberline) I am frequently asked these questions from my customers; “Why is my bank reconciliation in Timberline out of balance?” and “Can you help me fix it?” My answer is “Yes, I can help” and “Here are the main culprits…” Today I am going to discuss the top 5 reasons why your bank reconciliations in Timberline are out of balance and how to fix them.

  • Reconciliation Status on a Transaction was Changed
    Changing the reconciliation status of an item is the most common cause for out of balance bank reconciliations. How do you identify whether or not this has happened? Look at your bank reconciliation report from Sage 300 CRE.

If the bank statement ending balance does not match the ending balance on your bank statement, more than likely you have some transactions that fall under this category. First, find the last month your bank statement ending balance in Sage 300 CRE matched your bank statement. Once you’ve identified the first month you were out of balance, look at any transactions with a status of “open” or “cleared”, should any of these be reconciled? If you have verified that all the open and cleared transaction are correct, then look through your reconciled transactions to verify none were reconciled in error. The easiest way to do this is to print out the reconciliation register and compare it to your bank statement. If the totals on the report match to totals on your bank statement then that month’s reconciliation is correct. Continue the process until you reach the current month’s bank reconciliation.

  • Check was Voided with a Future Date and Reconciled
    Look up the accounting date of any void checks you may have reconciled. If they have been voided with a future date, un-reconcile the transaction and you should be back in balance.
  • Reconciled a Transaction with a Future Date
    This one falls in line with item number two. Most commonly a check is printed with a future date but then cashed in the previous month. This can be from date typos and checks written with future dates in error. To fix this common problem, void the check and reissue it with a date in the current bank reconciliation month. If you do not know the actual print date of the check, you can pull up the transaction date in the AP check inquiry.
  • Register Balance Includes Unposted Entries
    This happens occasionally, mostly with transactions that were created in Cash Management. The easiest way to find out if this is a causing your out of balance issue, pull up “Edit Register” and condition it to show unposted transactions only. See the picture below.
  • Accounting Date in PR Settings is Set to Period End Date
    This is simple to identify. If you have the correct security permissions, go to the Payroll module, then File>Company Settings>Payroll Settings. Under “Accounting Date” does it say Period End Date or Check Date? See example below.

Never fret, most problems can be fixed in Sage 300 CRE. I have found the Sage knowledgebase to be a great resource for any problem I may have in Sage 300 CRE. Knowledgebase article KB5982 has links to different KB articles with the most common causes of bank reconciliation out of balance issues.

Do you have items you look for if your bank reconciliation is out of balance? If so, leave it in the comments below.

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