About TurboCASH

After doing the bank reconciliation in the Input Reconcile Bank menu option, the cash book (bank account) balance in TurboCASH and the bank statement must be in balance after all the outstanding deposits (receipts) and the outstanding payments (cheques) is reported on the Cash Book reconciliation report. Any differences should be displayed on the following screens or reports:

Input - Reconcile Bank menu option - The bottom right-hand corner
Cash Book Reconciliation Report -

TurboCASH will subtract any unreconciled payments and add any unreconciled receipts from the bank balance according to the bank statement, thus giving you a reconciled balance.

If there is a difference between the Reconciled Bank Balance and the balance according to TurboCASH, you have an error in either your Payments or Receipts journals. You would have to search for the error and correct it. The following is only a few examples that can possibly cause a difference:

Your closing bank balance is incorrectly entered on the Reconcile Bank Account screen (Input - Reconcile menu option) or on the Reconcile Bank Account report options screen (Reports - Reconciliation menu option). If you have downloaded a bank statement or imported a bank statement, you need to save the bank statement transactions as a file using the correct dates to include transactions when you save the file.
Incorrect date entered in the Include Items Until field Reconcile Bank Account report options screen (Reports - Reconciliation menu option).
Not all transactions appearing on the bank statement have been marked or selected as reconciled items on the Reconcile Bank Account screen. If amounts have been marked or selected as reconciled, there may be a difference in the amounts in your cash book (receipts and payments journals) and the bank statement.
Transactions appearing on the bank statement may have not been entered in the receipts or payments journal or batch. In this case, you need to find the transaction and add or insert the transaction form the receipts or payments journal or batch.
Transactions appearing on the bank statement may have been entered twice in the receipts or payments journal or batch. In this case, you need to find the transaction and delete the transaction form the receipts or payments journal or batch.
Transactions appearing on the bank statement may have been entered incorrectly in the receipts or payments journal or batch. In this case, you need to find the transaction and delete the transaction form the receipts or payments journal or batch.
Errors in posting – they should have been detected when your bank reconciliation was done. An example is where you may have posted an amount incorrectly e.g. as R(£) 64.00 and entered it as R(£) 46.00.

If the difference is a positive amount, it is likely that a transaction on the bank statement is not entered or omitted in the payments journal.

If the difference is a negative amount, (the amount prefixed by a minus sign (-)), it is likely that a transaction on the bank statement is not entered or have been omitted in the receipts journal.

If everything else fails you may sometimes have to look at your cash-book and link up the source documents to check if you have entered all your transactions correctly.

You may need to generate a Cash-Book report from the Reports - General Ledger - Ledger menu option to trace some errors if your payments and receipts journals or batches have been posted to the ledger.

If you had not changed the description "BALANCING ENTRIES - RECEIPTS JNL" "BALANCING ENTRIES – PAYMENTS JNL" AND JNL to a meaningful description such as Deposit Slips D5000 to D5001 and Payments Cheques 105 to 111, you will find serious difficulties in tracing the errors if you have lots of data.