View Full Version : Bank Reconciliation Reports
04-06-2003, 07:03 AM
Although the reconconcilation process is very slick in QB the reports produced are not true bank reconciliation reports.
By this I mean I want to know why my bank statement shows x and my QB shows y.
Its all perfectly clear on the "Reconcile" screen but has anyone found a way of getting a report that shows this screen detail.
The QB "Reconciliation Summary" and "Reconciliation Detail" reports seem to be designed by a programmer who has never actually reconciled a bank account!
04-06-2003, 08:28 AM
I don't understand your problem. The reconciliation report shows the Cleared Balance, a list of uncleared transactions and the resulting ledger balance. What else are you looking for?
04-06-2003, 03:38 PM
I can see two bank reconciliation reports - 1) The Reconciliation summary and 2) the Reconciliation detail.
Neither seem to me to give me a) the total unpresented cheques or b) the total uncredited amounts paid in. Perhaps I'm missing something here but QB sometimes has that effect on me!!
The conventional idea of a bank reconciliation report is surely as follows:-
Bank balance per statement
Less: Unpresented cheques (gving details)
Add: Uncredited amounts paid in
Bank balance per Quickbooks
04-07-2003, 02:43 AM
Which version of QB are you using?
04-07-2003, 04:22 AM
Hi Robjoy - I'm using 2003 but 2002 to my knowledge did not have a true bank rec report. We wrote them out just to be sure!
04-07-2003, 08:49 AM
I'm flummoxed. My 2002 Reconciliation reports show Opening Balance, Cleared Transactions, Cleared Balance (i.e. Balance per Statement), Uncleared Transactions, Register Balance (balance per QB) - what's missing that you need?
04-07-2003, 03:10 PM
Thanks for your patience on this one. Lets perservere to the end!
I am using QB2003 & looking at a Reconciliation Statement. I believe this is the one that you can chose to print afer you get the "Congratulations" message.
My complaint is that uncleared cheques and payments are given in total with the number of items and separetely the Deposits and credits again in total and with the number of items. But what I need is the detail of these items. You might say why but its just to detect old or duplicated items which could conceal problems.
Maybe it is there & its my eyesight!
04-07-2003, 04:33 PM
Eureka!!! You are using the Reconciliation Summary, try the Reconciliation DETAIL Report.
04-07-2003, 05:41 PM
Getting close but still can't see the answer on the Rec Detail report. However lets give it a break and I'll check this over again when more Bank recs are done. Thanks again.
04-11-2003, 12:12 PM
It can't just be me as Intuit advise that they are aware of the problem in QB 2003 (I'm using premier Accountant edition), which is.........
When finalising a bank reconciliation, the detail report you get displayed shows all the bank transactions back to the beginning of the file, in my case it's back to 1998.
Is this not happening to you guys out there? I'm so annoyed I've stopped all my clients upgrading until it's fixed.
04-11-2003, 01:32 PM
Blast them they've done it again! Released a new version when they quite evidently CANNOT have tested it.
Can you use a Custom Transaction Detail Report on the bank account, immediately after reconciling, select uncleared transactions only, sort by Type. Date range from beginning of file to statement date. This should give you the difference between your statement and your ledger balance. You could export it to Excel and pretty it up.
04-11-2003, 07:54 PM
Can see how you select cleared but uncleared is not in the filter list I can see. Can you be more specific please.
04-12-2003, 03:23 AM
In my version (2002 Premier, UK) the 'Cleared' filter gives you the options Either, No or Yes - you want No.
04-12-2003, 10:03 AM
Thanks - yes I forgot that - I can now get the detail of the outstanding cheques and the outstanding credits. Thats good!
However I would like to perservere on this with the hope that one day Intuit will get the bank rec report to be a true bank rec report so I don't have to export to Excel & finish off.
This is an example of what I call a true bank rec report as at 31/3/03 and its an actual case which is on 2003 Premier:-
a) Bank statement balance (in credit) 350.12
b) Less: Outstanding cheques (8) (2,573.06)
c) Add: Outstanding credits paid in (3) 18,009.21
d) Bank register balance 15,786.27
The Quickbooks reconciliation detail report with the date filtered set to blank to 31/3/03 and the Cleared set to No shows:-
a) Beginning balance 18,347.41
b) Payments & cheques (it lists them) 2,573.06
c) Receipts and credits (it lists them) 18,009.21
d) Total uncleared 15,436.15
e) Ending balance 33,783.56
So to get what I call a true bank report I have to export this to Excel and then amend a) to be the bank statement balance at 31/3/03 and then if necessary alter the formula to get e) to be the actual Bank Register balance at 31/3/03.
Simple enough I guess for the Intuit programmers to do. Bank recs are of course a key area to ensure the integrity of Quickbooks data and its important to keep a record that they have been done on a regular say monthly basis.
Any views from other members?
07-07-2003, 10:46 PM
I spent 20 years as an accountant before changing professions and getting into the security camera business. I'm amazed that a company (QB) that does so many good things completely missed the boat with the bank reconcilliation report. Your example is textbook standard yet they can't do it. Also missing is a basic invoice journal that shows sales and cost of goods sold.
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