Q: I have been behind on doing my bank reconciliations and although I balanced the last bank reconciliation, MoneyWorks informed me that I am out of balance with the ledger Is there a way that I can easily find the unreconciled or reconciled transactions to see which one I am missing.
Yes, and as with most things in MoneyWorks there is more than one way to do things.
This small test file has five transactions, three of which have been reconciled on two reconciliations and for demonstration purposes coloured red.
Option 1 Simple Find
To find the reconciled transaction, click the Find icon or Cmd + F on your Mac keyboard or CONTL + F on your Windows keyboard.
The Find window will open, select Detail.Statement from the drop down list on the left [Red Arrow], select “is greater than” in the second drop down list [Green Arrow] and enter the numeric “0” in the search field [Blue Arrow]. Click OK [Orange Arrow].
The Detail.Statement ID is the Reconciliation page number that is unique for each reconciliation, unreconciled transactions are obviously not assigned an ID, in fact they do not exist to this ledger until they are reconciled therefore you cannot use the Find function to find them.
Option 2: Adding reconciled details to your transactions
However as an option you could flag the found reconciled transactions as being Reconciled and then if desired display that flagged result.
e.g. If I wanted to mark the posted reconciled transactions as being reconciled, I could highlight my found set and then go to the Select menu at the top of the screen and choose Advanced Replace… as shown below.
The Replace Field Value window will open, select the user defined field in the transactions that you want to use (user1, user2, user3, Analysis, Flag etc.) [Green Arrow] and preferably not one that you are currently using. Then type the valyue you wish to assign, e.g. “R” [Blue Arrow] and click Replace [Orange Arrow].
MoneyWorks will ask you to confirm the replacement, click Replace.
to Find the reconciled, by selecting Flag in the left drop down list, is in the second and R in the value field.
Using either method the List View Options window opens, showing the existing Fields or Columns on the right side and the available fields that can be added to the list view on the left side.
Move the Slider down on the Available Fields list [Red Arrow] and double click the Flag field [Blue Arrow) and it will move over to the Right list of displayed fields [Purple Arrow]. You can assign a different name (column header) [Orange], set the Alignment, right centre. left or decimal [Yellow Arrow}, you can also position the column by moving the Flag field [Purple Arrow] up or down, up being left, down being right. Click Ok.
Option 3 Using your Accounts Inquiry
However since the methods above would require you to do a search and retag transactions after each reconciliation, and even though there are some reporting you could do from the transaction lists, a simpler method to verify and reconciled and unreconciled items might be to deal with each bank account separately using the account enquiry, movements window.
Choose Account Inquiry under the Inquiries menu at the top of the screen or click any of the account inquiry icons in the Navigator
The Account Inquiry Window will open, type the name of your Bank Account [Red Arrow] or choose Selection and choose all your bank accounts (see tips article here on Account Inquiry search options) and then click the Movements tab [Blue Arrow] which will list all the transactions (Receipts, Payments & Journals) that affected the chosen bank account or accounts. Note you can also set the date range you want [Green Arrow & Purple Arrow].
The List View window will open as before. This time drag the slider on the left to the bottom [Red Arrow] and double click the last field name Heading [“your calculation here..”].
The Calculation Window will open, Using the If function[Red Arrow] recreate the calculation below [Blue Arrow] or just type this exact calculation If (Detail.Statement >= 1, “R”, “N”) into the calculation field. Then give your column a Name e.g. Rec [Orange Arrow] and click OK [Black Arrow]
The column is now added to the Movements window and will show an R for the reconciled items and an N for the non reconciled [Red Arrow].
Note the Rec # column [Blue Arrow] above, the 0, 1 represent the Bank Reconciliation Page No. e.g the page number shown when you view your completed Bank Reconciliations [Blue Arrow].
To get this result on the list simply, go to Customize List View and when the List Options window opens double Click the Detail.Statement Field on the left, position it on the right side, set alignment, give the column a name e.g. Rec# and click OK.
Although in answer to the customer’s original question we suggested the last option first, the various answers are intended to explain how to use the replace values to selected fields in posted transactions (e.g. adding R to the Flag field), how to customize you lists and use them to find details (adding the R) or how to use the Account Inquiry to monitor your business.
These are very powerful accounting tools and by gaining experience following these tutorials we hope that you will start using them to better manage and analyze your business, whether using MoneyWorks Cashbook, Express or Gold.
It has been said that there are too many ways to do things in MoneyWorks. In an unrealistic world there would only be one way to accounting, with simple functions and big icons. However in the real world the needs of every business and every business owner are different and MoneyWorks is designed to give business people those options.
For MoneyWorks support in Canada and the USA contact us at moneyworkssupport.ca