USD Bank account reconciliation on Sage 50

Discussion in 'Accounts & Finance' started by Csills73, Nov 10, 2018 at 8:51 PM.

  1. Csills73

    Csills73 UKBF Contributor Free Member

    71 0
    Hi All,

    I am wondering if anyone has come across the situation where the difference between the USD amount and the GBP amount on Sage 50 accounts is really huge at the year end when trying to reconcile the USD bank account? Can this huge difference be the currency fluctuation or something else?

    Many thanks
     
    Posted: Nov 10, 2018 at 8:51 PM By: Csills73 Member since: Oct 1, 2013
    #1
  2. John44

    John44 UKBF Contributor Free Member

    48 1
    No. If all the entries have been entered with reasonable rates then there's no reason why the end balance should be materialy different. Are you sure someone hasn't managed to enter a 'pure' sterling transaction?
     
    Posted: Nov 11, 2018 at 5:15 PM By: John44 Member since: Jan 25, 2013
    #2
  3. Csills73

    Csills73 UKBF Contributor Free Member

    71 0
    Hi,
    Thanks for coming back to me. It seems like everything is entered with a reasonable rate. What do you mean about pure sterling transaction?
    Thanks
     
    Posted: Nov 11, 2018 at 9:28 PM By: Csills73 Member since: Oct 1, 2013
    #3
  4. John44

    John44 UKBF Contributor Free Member

    48 1
    Where someone manages to enter a sterling tranaction without the dominated currency equivalent as well. Best to run off a transaction listing with the two currencies in columns from a start point you know Is good. That way you can track it movement by movement. When was the last bank rec that worked? If it was recent then that should rule out any other issues such a year end rollover issues etc
     
    Posted: Nov 12, 2018 at 7:01 AM By: John44 Member since: Jan 25, 2013
    #4
  5. johndon68

    johndon68 UKBF Big Shot Full Member - Verified Business

    3,333 608
    You can't enter a Sterling Transaction on a USD bank account in Sage 50.

    John
     
    Posted: Nov 12, 2018 at 7:56 AM By: johndon68 Member since: Nov 2, 2009
    #5
  6. Csills73

    Csills73 UKBF Contributor Free Member

    71 0
    Thank you both for your help. I am not sure how I will sort it, but thank you
     
    Posted: Nov 12, 2018 at 9:33 PM By: Csills73 Member since: Oct 1, 2013
    #6