Reconcile Cash Accounts - Suspense Items Tab
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Access this tab using Activities>Reconcile Cash Accounts. |
Use this tab to manually enter and delete suspense items. Suspense items are reconciling items that typically are not entered as a transaction—a bank error, for example. Since the bank error is a reconciling item, only enter it on this tab until it is corrected. Do not enter it as a transaction.
Later, in the subsequent reconciliation period, when the error is corrected and no longer a reconciling difference, manually delete it from this tab.
Note: A Suspense Item cannot be deleted if contained in a Locked Reconciliation ID.
Multicurrency Users
If the Administrator has installed and added the Multicurrency module (Organization>Add a Module), a functional currency account is selected on the Summary tab, and you make changes to the Cleared Amount, a system generated suspense item is generated. The suspense item is assigned a number of N/A and a Suspense Date the same as the reconciliation date. The Amount is calculated by taking the sum of the Exchange Adjustment columns from the Checks/Vouchers, Deposits, and Other Cash Items tabs and is also displayed as the Plus or Minus Exchange Adjustment field on the Summary tab. The system displays the Description as System Generated Exchange Adjustment.
Suspense Items Table: To select an individual row, click in the leftmost column of the table, or use the buttons at the top of the form to select or clear multiple rows.
- Suspense Number: Enter a unique number for the suspense item for tracking purposes.
- Suspense Date: Enter the date of the suspense item.
- Amount: Enter the amount of the suspense item (positive or negative).
- Description: Enter a description of the suspense item.
- When you move between tabs or click the Update button, the unreconciled difference between the bank account and the ledger balance changes to reflect the items marked as cleared.
- Once the Unreconciled Difference is zero for the cash account you are reconciling, use the Lock button to record a historically accurate record of the reconciliation. This should be done once you are sure subsequent activity will not affect the reconciled Book Balance. Note that a Suspense Item cannot be deleted if contained in a Locked Reconciliation ID.
- You can also use this form to enter startup reconciling items. For example, if you are just beginning to use the system and are converting from another product, checks which were not written in our system but are currently reconciling items, may be entered in this table. You can also enter deposits and other cash-related items from the other system here.