Sage line reconciliation error occurs when the 2 balances are not equal (opening balance – statement opening balance + outstanding opening balance). So, if the balance is not equal there is the discrepancy in the balance that is the difference between those 2 balances. The discrepancy is of 2 types negative or positive. If the discrepancy is here then there are issues or errors in the bank reconciliation. So to resolve it follow the process below or contact the Sage helpline number.
The discrepancy is equal to the opening balance subtracted from opening outstandings subtracted by statement opening balance.
The process to fix the Sage line reconciliation error
For discrepancy you need to follow these steps:-
- If you want the value of opening outstandings you have to check the previous leftover outstanding amount at the end of the reconciliation.
For the first time reconciliation, the total prior outstanding is equal to the opening outstanding that you just added it before the starting date.
If you want to know the balance of opening book then follow these steps:-
- Bank reconciliation is moved to the next level when the discrepancy is fixed
- Verify that your reconciliation bank data is corrupted or not. To verify do these steps:-
- For an equal opening balance – statement opening balance + outstanding opening balance
- If these balances are not equal then that means there is a difference between these amounts. That difference is known as discrepancy amount
- If these balances are equal and you still, have the discrepancy amount. That means the bank reconciliation have some incorrect data. You have to reset the reconciliation to solve this issue
- The balance that you see on the top in the first line is the opening balance
- Now click on the OK button
- The option named Account need to be selected
- You need to provide the dates for start and finish to identical bank reconciliation dates.
- Select General Ledger, Reports, Financials, (or Transactions by Account).
If there is a negative amount of discrepancy: Negative means that the opening balance of the book is less than the addition of opening outstanding + statement opening balance
3 possibilities are there in case of negative discrepancy are as follows:
- The statement opening balance is high
- The opening outstanding is high
- The opening book balance is low
If there is a positive amount of discrepancy: In this, if the opening balance of the book is more than the sum of statement opening balance + opening outstanding
So the possibilities of positive discrepancy are mentioned below:-
- The statement opening balance is low
- The opening outstanding is low
- The opening book balance is high
How to contact us?
Still, you are having any issues or queries then contact the support team via call, email, or live chat. You just need to dial the toll-free Sage customer support number 1800-961-6588 or email them at firstname.lastname@example.org. The team is always here to help you out in the entire situation all around the clock.