What's happening to my bank statement reconciliation?
JK2416
Member Posts: 8
I went to reconcile my bank statement for the year. It said it had been last reconciled on 12/31/18. I started with January. After I entered the ending balance, Wave says that it has already been reconciled! So then I start with February, enter the ending balance, and it says the same thing! I thought I'd try a different account, and the same thing happened. What's going on?
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Hey @JK2416 . Would love to dig into this some more for you. Can you send me some screenshots of the messages and when you're receiving them?
I believe the same pattern of problem occurred to my account as well. The Wave Balance is not tally with the Statement Balance even though everything is identical and reconciled in the previous month. Please help.
Here are the three screenshots. 1) What it shows on the main reconciliations page. (this one is not uploading but shows the previous "reconciled date of Feb 28, 2019. 2) Entering a date 3) the message that it's already been reconciled.
Here is the first screen.
Hey @Ferdaus, can I get some screenshots of what you're seeing from within those reconciliation pages? I just want to confirm that we're looking at the same situation.
@JK2416 can I get a screenshot from within one of those accounts that's telling you it's reconciled? This is odd, for sure, but I'm wondering if it has to do with the dates that we have set - I think the screenshots you'd uploaded had a bit of a hiccup as they were coming in as well, since I'm seeing small thumbnails of a couple of them but don't have the ability to expand them. Thanks for your patience.
That's what I sent.
1. I first sent the one that shows the last time it was reconciled. (Actually the last time was 12/31/18 but I went through this a few times. Then you can see what I entered as the next date of the my bank statement. After that there is the icon that says "this period has been reconciled.
Dear @ConnorM,
Please refer to the following screenshot.
@Ferdaus Typically, changes to transactions would automatically flow into the way that your reports and reconciliation work. In some cases though, on the backend, all of the information doesn't move into all of the right places. I have run a diagnostic on the back end and it looks like the issue should be resolved. Can you take another look and let me know if I'm correct?
@JK2416 From the screenshots provided, this seems like expected behaviour. Essentially, the only time the individual transactions will show up is in the event that you are not reconciled. In the cases that you have explained, it seems as though your Wave balance and statement balance match, which means that there is no need for you to actually need to verify anything because the balances match. It sounds as though you are running into a good problem here, but if I am misunderstanding, then please let me know and provide some further context as to why you believe this is incorrect!
But how do I actually know that without some kind of report? Most accounting reconciliation reports will show ending balance per bank statement, then ending balance per the system. Then the person completing the reconciliation can select ok, and then run reports showing what was reconciled for that month.
Also, can this message occur when the person entering the transaction marks it as reviewed?
Hi @JordanD !
Thanks a lot for your assistance on my issue. My account for the month of Aug 2019 was reconciled perfectly. My I know what happen actually? Coz all the transactions are all the same, remain unchanged. Just for my precaution in future.
Hey @Ferdaus . This has nothing to do with your actions, it was instead the way that the system was displaying the info. Jordan was able to make a tweak on the back end which fixed the way that the info was being displayed. You should be good to go moving forward
Hi @JK2416 . After this modal shows up, you can click "view reconciled transactions" to see the balance difference. Ultimately though, seeing that your account is reconciled is exactly what you want to see and it means that your accounting has been done properly.
This message does not happen if transactions have been marked as reviewed, only when a user enters in the correct ending balance to match Wave's balance.
Dear @AlexL,
I'm afraid the same problem occurred to my Dec 2019 reconciliation. Please help to tweak on the back end again.
@Ferdaus just took a look at the back end but it seems like this is not the same issue and might actually be related to account not reconciling because of actual missing (or additional transactions). If the issue was not within December 2019, typically this would mean that something is wrong in the previous months. Have you completed a monthly reconciliation for the month of November 2019? If not, I would recommend completing reconciliations for each month in order to find the error