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Account reconciliation

AprorescoAproresco Member Posts: 2

We came across this amazing user-friendly accounting software and it ease how as a small nonprofit organization; we manage our finances.
I easily export all our bank account data (from 2014) to waves and categorize almost all transactions. I have and issue with reconciliation.
1. I started reconciliation process from the first transaction in our bank account until May 2019

  1. In May 2019, I suddenly get and offset of $500.00. The ending statement balance and date are the same as on my bank statement

  2. All transactions match my bank statement

I don’t see were the difference is coming from. Have explore all my account and I didn’t find how I can explain the difference.
Can you please help me with this?
Thanks for your help that will provide me with the hints I need to continue using this amazing accounting software with confidence.

edited March 30, 2021 in Accounting Technical Support

Comments

  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey @Aproresco !

    It's possible that this issue is associated with the ending balance amount and date. Typically, banks provide monthly statements. It looks like your statement balance date is May 2nd. If the balance you are looking at doesn't reach May 2nd or exceeds it, you will need to calculate the correct balance manually and punch in the correct amount for May 2nd.

    I recommend taking a look at our Reconciliation Help Center article if you haven't already: How to use Account Reconciliation

    We also have a video tutorial here.

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