How do I resolve discrepancies between SayPro bank transactions and SayPro Sage records?

📌 Resolving Discrepancies Between SayPro Bank Transactions and Sage Records

Discrepancies between SayPro’s bank transactions and Sage records can cause financial reporting errors. Here’s how to identify and fix them efficiently.

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🔹 1️⃣ Steps to Identify and Resolve Bank Transaction Discrepancies

✅ Step 1: Review Bank Statements & Sage Records

1️⃣ Access SayPro’s bank statement via online banking or a downloaded PDF.
2️⃣ Open Sage Banking and compare transactions with the bank statement.
3️⃣ Look for missing, duplicate, or incorrect transactions.

💡 SayPro Tip: If using Bank Feeds in Sage, ensure transactions are fully imported before reconciling.

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✅ Step 2: Check for Common Errors

🔹 Missing Transactions – Not recorded in Sage but appear in the bank statement.
🔹 Duplicate Entries – Entered twice in Sage.
🔹 Incorrect Dates – Transactions in Sage may have the wrong date.
🔹 Incorrect Amounts – A Sage entry may not match the bank statement.
🔹 Uncleared Transactions – Pending payments or deposits may not reflect in Sage yet.
🔹 Bank Fees or Interest – Charges or interest not recorded in Sage.

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✅ Step 3: Adjust & Correct Transactions in Sage

1️⃣ For Missing Transactions: Manually enter them in Sage with the correct category.
2️⃣ For Duplicate Entries: Delete or void the incorrect one.
3️⃣ For Incorrect Dates/Amounts: Edit the transaction details.
4️⃣ For Bank Fees/Interest: Add journal entries in Sage.

💡 SayPro Tip: If unsure about a correction, consult SayPro’s financial team or an accountant before making changes.

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✅ Step 4: Reconcile the Bank Account in Sage

1️⃣ Go to Banking > Select the SayPro bank account.
2️⃣ Click “Reconcile” and enter the statement closing balance.
3️⃣ Match transactions one by one.
4️⃣ Ensure the reconciliation balance is ZERO before finalizing.

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🔹 2️⃣ Preventing Future Discrepancies

✔️ Enable Bank Feeds in Sage to auto-import transactions.
✔️ Set Up Bank Rules for automated transaction categorization.
✔️ Regularly Reconcile (weekly or monthly) to catch issues early.
✔️ Keep Accurate Supporting Documents (receipts, invoices, and bank statements).

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🚀 Summary: Fixing SayPro’s Bank Transaction Discrepancies in Sage

🔹 Review bank statements & Sage records.
🔹 Identify missing, duplicate, or incorrect transactions.
🔹 Adjust Sage transactions to match the bank statement.
🔹 Reconcile the bank account in Sage to confirm accuracy.
🔹 Implement best practices to prevent future issues.

Would you like a custom reconciliation checklist for SayPro? 😊