Sage reconciliation error 19 is one of the bank-related issues in the program that can take place when managing your bank transactions. There is no doubt that Sage 50 is one of the finest accounting applications for businesses. It lets users reconcile their bank transactions to the software itself so that you can ensure that the recorded transactions are accurate.
However, you may encounter multitudinous issues related to bank reconciliation in the Sage 50 application. Worry not! We will discuss this Sage 50 error 19 in this post, along with its possible troubleshooting solutions. Let’s start!
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What Is Sage Line 50 Bank Reconciliation Error 19?
Sage 50 reconciliation lets you confirm and verify that the transactions in the Sage 50 application accurately match the transactions recorded in your bank statement. It is a useful feature in the program, which enables users to make sure that their financial records are accurate and there are no discrepancies.
You need to make sure that all the entries match. It will make the starting balance equal to the closing balance, and their difference becomes zero. However, if the difference is not zero, it indicates a discrepancy in the recorded transactions, and the reconciliation is not done correctly.
What Causes Sage Error 19 To Take Place?
There are several possible reasons that can bring forth error code 19 in Sage 50 when reconciling accounts, as mentioned below:
- It is possible that the end balance of the statement is incorrect.
- The wrong end date for the statement can also give rise to the Sage 50 error 19.
- The discrepancy between the starting balance and the opening balance is stated on your bank statement.
- If a previous reconciliation was saved with an incorrect date.
- The previously saved reconciliation has a differential amount.
- Transactions that were entered with the wrong dates can also evoke Sage error 19.
Procedure To Reconcile Transactions in Sage 50 Application
If you want to prevent the Sage 50 reconciliation error 19 from taking place, you need to make sure that the reconciliation is done properly. Failing that, you may experience this issue in the program. Therefore, below are the steps to reconcile bank transactions with the Sage 50 application:
Step I: Enable Bank Reconciliation in Sage 50
Follow these steps to allow bank reconciliation in the Sage 50 application:
- First things first, go to the Sage 50 Home window to initiate the process.
- Now, from within the Enhanced View, select the Company and then double-click the Charts of Accounts option.
- Alternatively, if you are in Classic View, double-click the Chart of Accounts option.
- Next, double-click on Bank Account to proceed further.
- When you see Reconciliation and Deposits tab, click it and check the transactions and then Save it.
- Now, move down to the bottom of the page and locate the Setup button.
- Once found, click on it and set up your revenue accounts of these items- Exchange gain, Interest Income, Error-Gain, and Adjustments.
- It can also be used for bank charges, NSF Fee setup expense accounts, and Interest expenses.
- Moving ahead, rename all Expenses and Interest that are listed in the bank statement.
- Finally, click the OK button, followed by clicking Save and Close to conclude this procedure.
Step II: Set up for Bank Reconciliation
Once the bank reconciliation option is enabled, you can set up bank reconciliation by implementing the following steps:
- Move to the Home window to initiate the reconciliation process once the journal and bank account you want to reconcile are selected.
- Next, enter the start date, end date, and date of reconciliation to match your bank’s report that has the statement opening and closing balances.
- After that, hit Add Prior Outstanding button, and it will add those transactions that come before the start date you have selected.
- When the system prompts you to save these changes, click Yes to move ahead.
- Thereafter, click the OK button if it doesn’t show any transactions before the Start date.
- Here, you need to give a date for the oldest outstanding transaction in the Show Resolved Trans. On or after box.
- Once entered, use Resolved Transactions to open up the list of transactions that are dated before the beginning date of the statement.
- Finally, click Add to transfer to the Outstanding Transactions list.
Check and Verify Sage 50 Bank Reconciliation
After setting up the bank reconciliation, you can check your bank reconciliation manually. There are no ways in the Sage 50 application that reflects the reconciliation discrepancies automatically. Below is how you verify the reconciliation:
- First, click on the Add All button, and it will select the outstanding transactions.
- Next, you need to clean a specific transaction that has cleared your account and then hit the Remove button.
- If the resolved transactions list doesn’t show the outstanding transaction as of the statement start date, click Insert Outstanding option to add it manually.
- Finally, select the outstanding transactions, and click OK to finish.
If it gives Sage reconciliation error 19, then you may need to reset the bank reconciliation in the Sage 50 application.
What Makes Users Reset Bank Reconciliation in Sage 50?
Reconciling your bank accounting in Sage 50 is an important process. It is possible that you may receive Sage 50 error 19, causing reconciliation to not work in an intended manner. In this scenario, there are various reconciliation issues in the program when you may need to reset reconciliation in Sage 50:
- Sage 50 application is unable to reverse bank reconciliation for a given month.
- The program reads the incorrect data as incorrect data is recorded in the Bank Reconciliation database.
- Even after closing and opening balances are equal, and nothing is cleared, there exists an unsettled amount.
Step-By-Step Process To Reset Sage 50 Bank Reconciliation
If you are stuck in a scenario wherein you need to reset your bank reconciliation, then you can implement the below-given steps to see it done:
- First of all, go to the Tasks option and then select System.
- Next, select General Tasks and then click the Rebuild Data option to move ahead.
- Further, select Bank Reconciliation from the list of options.
- In the end, hit the OK button to confirm the reset and conclude this procedure.
Other Reconciliation Issues In Sage 50
In addition to Sage 50 error 19, there are several other reconciliation issues that can cause trouble with your banking transactions, which are:
1: Bank reconciliation (reference) has a bank account ref of (account number), but no bank record exists.
In the given scenario, you need to implement the below-stated steps:
- First of all, click on the File menu to initiate.
- Next, hit Maintenance and then click Recovery tools.
- Thereafter, create a backup of your Sage 50 data when you are prompted to do so.
- After creating a backup, click Reset Bank Reconciliations.
- Now, click OK and then hit the Close option.
- Next, click Yes when you are prompted to re-check the data.
- If the error continues here, click Close and then click Reindex.
- Moving ahead, mark the checkbox for Reindex Bank Reconciliation Records and click OK.
- Here, you need to click Yes and then the Compress Now option.
- Proceeding further, click Compress, and then hit the OK button.
- Finally, click Close and check the status for the error resolution.
Now, click the Check Data option to check if the error is resolved or not. If the error continues, restore an error-free backup of your data and re-process the procedure.
2: Bank reconciliation (number) does not contain any transactions.
On getting this error message related to Sage reconciliation, you need to implement these steps immediately:
- Hit on the File menu and then click Maintenance.
- Thereafter, you need to move ahead by clicking the Recovery Tools tab.
- Here, you will be prompted to save a backup of your data. Do what is required and proceed further.
- Now, hit Reindex option and then select Compress All.
- After making these selections, click the OK button.
- Next, click on Reset Bank Reconciliations and then click OK.
- In the end, click Close and hit Yes after following the prompt for data check.
Visit more : Sage 50 Error 1920
This post offers a comprehensive guide on how to fix Sage 50 error 19 by implementing the relevant solutions. If you are finding it difficult to implement the solutions, getting additional help from experts can help you out in this situation. Once connected, you can get your queries answered with ease.