Opening Bank Reconciliation

Question

In order to ensure that your client is able to perform their first bank reconciliation correctly, you need to perform the following steps:
First we'll create an example:
Opening Cashbook (General Ledger) balance           = $100 Dr (Favorable)
Oustanding unpresented Cheques                           = $50
Opening Bank Statement balance                           = $150
Step 1:
Firstly enter the Cashbook balance via Incoming Payments as:
Dr         Bank Account        $100.00
Cr         Cashbook Opening Balance Suspense account   $100.00
Step 2:
Secondly enter each oustanding cheque via Outgoing Payments against the bank Account
Dr         Bank Account (Contra)    $100.00
Cr         Bank Account (with Chq No)        $100.00
Step 3:
Open you Bank Reconciliation via Banking - Bank Statement + External Reconciliation - Manual Reconciliation.
Enter:
Opening Statement Balance  =  $  0.00
Closing Statement Balance   = $150.00
Statement Date = Date before Go Live
Tick / Select Opening $100 + All Dr Balance Cheque Entries.
Once Reconciled you will be left with the Oustanding Cheqs, which will clear once the User starts on their Post Go Live entries.

Answer 1

Hi Kevin,
Nice to have your message here about OB recon. Actually we have also related problem and let me discuss with financial application consultant about that, then I go back to post the result here.
Rgds,