The Bank Reconciliation Window

Enter the date of your actual bank statement. Only the transactions posted up to and including this date will be included in the Reconciliation window.

Sage Line 50 automatically enters the closing balance from your last reconciliation here. You should now enter the closing balance of your actual bank statement.
If this is the first time you have reconciled your bank account, Sage Line 50 enters your opening balance in the Statement End. Balance box.

This column shows the transaction type code automatically assigned by Sage Line 50. The code can be one of: BR for bank receipt, BP for bank payment, JD for journal debit , JC for journal credit, VR for Visa Receipt, VP for Visa Payment, CP for Cash Payment, CR for Cash Receipt, PA and SA for Payment on account, PP for Purchase Payment and SR for Sales Receipt.

This column shows the number that is assigned to the transaction as it appears on the audit trail.

Displays the date the transaction was made.

Displays the text reference you entered when you made the transaction.

Displays the description you gave the transaction.

Displays the value of the transaction, when money was withdrawn from the bank account (For example, a bank payment).

Displays the value of the transaction, when money was paid into the bank account (For example, a bank receipt).

The column displays whether a transaction is grouped or not. If a transaction is grouped a 'Y' appears in this column. You can select to group transactions that have the same transaction type, date a reference. Grouping does not occur if the transaction reference field is left blank. To turn the transaction grouping function on for bank reconciliation, open the Settings menu and choose Bank Defaults. Select the Group Items in Bank Rec check box.

This is the statement balance brought forward from the last reconciliation. It should reflect the opening balance on the statement.

This is the balance of the bank account up to the date entered on the bank reconciliation screen and represents the balance as if all transactions have been cleared.

This is the total of all items uncleared; the net value of all transactions in the reconciliation window not already highlighted.

This box initially shows the Opening Balance figure, but then changes automatically by the value of the transactions you select for reconciliation. As you work through your bank statement reconciling each line, this value should change to match the balance shown by your bank statement. Before you save the reconciliation, this box should show the same balance as the closing balance of your bank statement, otherwise the opening balance on your next reconciliation will be incorrect.

Initially, if you have not manually changed the Statement End Balance that was entered automatically, the Difference box displays zero.
When you enter the closing balance of your actual bank statement, the Difference box shows the difference between the transactions you have selected for reconciliation and the Statement End. Balance. When you have selected all of your transactions, this displays a zero balance unless you have adjustments to make, e.g. bank charges or interest payments.

The Bank Reconciliation window displays a list of your bank transactions, one line at a time.

This list box window has been designed so that you can reconcile your programÆs transactions with your actual bank statement all in one go. Enter the date of your actual bank statement to display the transactions posted up to and including that date.

Note: Only those transactions that have not previously been reconciled appear. If the check box æNo Bank ReconciliationÆ is selected on a bank accounts record you will not be able to reconcile this bank account.

Work through your statement, and for each line, select the matching transaction from the list of Sage Line 50 transactions. As you work through, you can make any adjustments to ensure that the Sage Line 50 bank includes all transactions that have been processed by your actual bank. When all the lines of your bank statement have been ticked off against the Sage Line 50 transactions and the Sage Line 50 reconcile balance is the same as the bank balance, reconcile the Sage Line 50 bank by choosing the Save button.

On the Bank Reconciliation window, the following information appears for each transaction: