Enter reconciled opening balance

Use this when your opening bank balance is partly made up of a reconciled balance and partly made up of unreconciled bank transactions. This allows you to enter a Reconciled bank balance and the details of the unreconciled transactions that make up the opening balance. You can reconcile these transactions in the normal way.

This makes sure that:

  • The statement balance for the bank account in Sage 200 matches the reconciled value of your bank account.
  • The book balance for the bank account in Sage 200 matches your actual bank balance.

You cannot amend opening balance transactions. If you make a mistake when entering an opening balance you can alter it by entering a payment or receipt, where appropriate, to adjust the opening balance. You must reconcile this entry against the incorrect opening balance.

Your total bank balance is £100. You have a reconciled balance of £60 and four unreconciled transactions with a total value of £40. Enter this in the following way:

  • Enter the Reconciled balance as £60.
  • Enter a value, date and a reference for each of the four unreconciled transactions.

The Book balance is updated to £100. The Statement opening balance (on the bank reconciliation window) is updated to £60.

  • An opening balance cash book transaction (OP) is entered for the bank account.

    This is not posted to the nominal ledger.

  • Individual cash book transactions (BR and BP) are entered for the unreconciled values.

    They are not posted to the nominal ledger.

  • The Statement opening balance on the bank reconciliation window is updated.
  • The bank account balance is updated. This is the reconciled balance plus the total of the unreconciled transactions.

To enter reconciled opening balance

Open: Cash Book > Other Transactions > Bank Account Reconciled Opening Balance.

  1. Select the bank account you want to enter an opening balance to.
  2. Enter the Date and Reference.
  3. Enter the amount of your reconciled bank Balance (positive or negative) in the account's operating currency.

  4. If applicable, enter the Exchange rate for the opening bank balance.

    This rate is used to convert the opening balance value to base currency, and is applied as the default for the unreconciled transactions.

  5. Enter the Value, Date and Reference for each unreconciled transaction, in the account's operating currency.

    • If the transaction is a payment, enter a negative value.
    • If the transaction is a receipt, enter a positive value.

  6. If applicable, click Exchange rate to enter a different exchange rate for each transaction.

    This rate is used to convert the unreconciled transaction value to base currency.

See also

Other tasks

Enter a single value opening balance

Reference

Foreign currency processing