Peachtree Accounting / Sage 50 File Repair

Peachtree Accounting Software Technical Help


Unreconciled difference in my Account Reconciliation

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 Your unreconciled difference may be due to transactions that were never entered into the system because you are a new user to Peachtree.

If you are a new user of Peachtree, you most likely entered beginning balances for your Chart of Accounts but, when reconciling your bank statement you realize there are transactions that have cleared but are not listed to be cleared in the Account Reconciliation.

Locate the LAST Account Reconciliation PRIOR to using Peachtree. (If you started using Peachtree November 1, 2003 this would be the October 31, 2003 Account Reconciliation). You will need the listing of all outstanding deposits and checks from that account reconciliation.

  1. Select Tasks from the Peachtree menu bar and then select System, choose Change Accounting periods.

  2. Change to Period 1 or the period that represents the first month you entered transactions in Peachtree (in the above example, this would correspond with November 1, 2003).

  3. Select Tasks, and then select Account Reconciliation.
    Select the cash account you want reconciled then select the Beginning Transactions button. Enter all deposits and checks that were outstanding prior to using Peachtree.


Your unreconciled difference may be due to beginning balances for Chart of Accounts not posting properly.

If you entered beginning balances for your Chart of Accounts in a prior year that is now closed.

  1. Select Maintain, then Chart of Accounts and then select the Beginning Balance button. You will be presented with a window listing all available dates for Chart of Accounts beginning balances. Select the period you first entered your Chart of Accounts beginning balances you should be presented with a screen similar to the one below.

  2. With your cursor highlighting the amount of the first general ledger account, keep hitting the enter key through all the accounts.



  3. When you have completed scrolling through all the accounts, you will be presented with the following informational screen. Click OK to complete the process and re-post the transactions.


If you entered beginning balances for your Chart of Accounts in an open period you will first need to unpost all journals.
  1. Select Maintain and then select Company Information. Select the posting method button and be sure you are in Batch posting. Click OK twice to save any changes.

  2. Now select Tasks from the Peachtree menu then select System and then select Change Accounting Periods. Change to period number 1 and click OK.

  3. Next select Tasks from the Peachtree menu then select System and then select Unpost. Unpost each journal individually selecting the journals one by one and clicking OK after each selection.

  4. Once you have unposted all journals you should be able to access a period in the open year. Follow the above instructions (….you have entered your beginning balances in a prior year that is now closed) for accessing and recreating the beginning balance transactions.

  5. Once this is completed, select Tasks from the Peachtree menu bar then select System then select Post. Post All Journals.

Occasionally, you will need to audit all transactions that have been posted to the cash account.

You will need to print a detailed General Ledger report for the Cash Account for All periods. Compare this to your Bank Statements to be sure all transactions have been entered properly. You may need to either enter missing transactions or edit existing transactions to change the general ledger account the transaction has been distributed to.

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Keywords: peachtree account reconciliation difference balance off

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