First time bank reconciliation

Dovid Lando
Dovid Lando
Second Anniversary Kudos 1 Name Dropper Participant
in Blackbaud Financial Edge NXT® General Discussions

Hi, relatively new FE user.

We carried forward many outstanding transactions from the previous accounting system.

Per my implementation specialist, I brought these transactions into FE on a do not post transaction (as I think it should be).

Now when I go to make my bank rec, it shows the account is out by the total of these transactions.

What am I to do?

If i select ignore, will this discrepancy continue to carry forward?

Comments

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Dovid Lando
    If you're saying your GL Cash account is out of balance to the statement, yes that will roll over if you ignore. The purpose of bringing in outstanding checks as do not post , centers around if their amounts are already in the GL balances when you're implemented. If they are not then you'd enter them as not yet posted, and post them. Since you're off exactly that amount, then it sounds like those amounts are not included in your GL balances. Before doing anything, I would get confirmation from your implementation specialists and attempt to confirm this so you can make the best decision on what to do next. IF they can say they didn't include those balances in the GL balances, then yes , post those entries from the bank adjustment. But it does depend on verifying that information first.

  • Dovid Lando
    Dovid Lando
    Second Anniversary Kudos 1 Name Dropper Participant

    @Kevin Brazell
    I did include them in my GL amount when bringing in the TB. How could I not have?

    My implementation specialist claims this is a known issue.

  • Dovid Lando
    Dovid Lando
    Second Anniversary Kudos 1 Name Dropper Participant

    @Kevin Brazell and for anyone else concerned about this, here goes.

    I spoke to @Chelsea Riley and one of the course writers, @Mary Aquino as well.

    They explained that the GL will always be out by the amount of the outstanding on the DNP. However, as you clear those transactions, the discrepancy will resolve itself.

    I followed their lead, and cleared my transactions successfully.

  • Kristen Bylenga
    Kristen Bylenga
    Name Dropper First Anniversary Facilitator 1

    @Kevin Brazell
    Hi there - I have the same issue but we're now months past our implementation and our specialist at the time said it would clear out. It has not. Is there a smooth way to clear these out? We need to deal with this for our next year end.

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