Variances print on the report when the balance derived from the transactions doesn’t match the balance on the bank in Setup, Bank Accounts. See more information about the different Bank Account balances.

The report calculates balances based on the status of the transactions, Open, Cleared, or Reconciled. It compares the calculated or derived balances to the bank's running totals in the master file.

Variances can be caused by changes to reconciliation status of a transaction, errors during auditing, or error updating totals while posting.

Before running this report

1. Complete any bank reconciliation tasks that are in progress.
2. Verify the Last Statement is correct.
   1. Go to CM Setup, Bank Accounts, General tab.
   2. Confirm the Last reconciled Date and the Last reconciled balance match the bank statement from the bank.
   3. See additional information when the Last Reconciled Balance is incorrect. See information for an incorrect statement ending date.
3. Verify outstanding or open items are correct. Look for outstanding/open transactions from a previous statement that don't have a Reconciliation Status of (R):
   1. Use CM Inquiry, Bank Register.
   2. Drill down on the bank account to the transactions.
   3. Add a condition for the Reconciliation Status equal to O to see outstanding/open items.
   4. If you find items with an incorrect Reconciliation Status, see steps to change the reconciliation status of the CM transaction.
4. Verify Cleared transactions are correct. Check for Cleared transactions from a previous statement that don't have a Reconciliation Status of (R):
   1. Use CM Inquiry, Bank Register.
   2. Drill down on the bank account to the transactions.
   3. Add a condition for the Reconciliation Status equal to C to see outstanding/open items.
   4. If you find items with an incorrect Reconciliation Status, see steps to change the reconciliation status of a CM transaction.
5. Record and re-reconcile any reconciled entries deleted or voided for error correction.

 CAUTION: The Derived totals on the report won’t calculate correctly if any of the ABOVE items are incorrect.

Run the report and correct variances

1. From Cash Management Reports, select Reconciliation, Bank Acct Bal Verification report.
2. Select the Register file. Click OK.
3. Select Print Preview.
4. When the preview opens, select the bank account from the list on the left.
5. Review for variances.
6. If the report returns variances, have users exit all Sage 300 CRE applications that access CM Bank Accounts.
    NOTE: This includes Accounts Payable, Accounts Receivable, Payroll, Job Cost, and Property Management.
7. Turn on Audit Setup Activity.
8. Select Setup, Bank Account.
9. Choose the bank from the Bank Account List.
10. Follow the steps below for any section of the report that shows variances.
11. When you've completed the changes, print the verification report to confirm there are no longer variances.
12. Turn off Audit Setup Activity.

Bank Balance Verification

Variances in the Bank Balance Verification section:

1. Go to the General tab.
2. Change the Bank Balance field to match the report's Derived Bank Balance.

CM Posted Balance Verification

Variances in the CM Posted Balance Verification section:

1. Go to the Totals by GL Cash Acct tab.
2. Replace the Posted (CM) Balance and Amount with the report’s Derived Posted CM Balance.
3. If you use multiple cash accounts with your bank account, you may have multiple lines on the Totals by GL Cash Acct tab.
   1. Determine the correct amount for each cash account and adjust the amounts for each.
   2. Delete any lines with blank cash accounts.
   3. When you finish, the amounts for each cash account should sum to the Derived Posted (CM) Balance.

Register Balance Verification

Variances in the Register Balance Verification section:

1. Go to the General tab.
2. Change the Register balance to match the report’s Derived Register Balance.

Bank Account Totals Verification

1. Check for variances in Bank Account Totals Verification:
   1. Verify the Open Derived amounts equal the Open from Bank Account amounts for each line item. For example, the derived open amount for Checks equals the open from bank account for Checks.
   2. Verify the Unreconciled Derived amounts equal the Unreconciled from Bank Account amounts. For example, the unreconciled derived Deposits equal the unreconciled from bank account for Deposits.
2. If you identified variances:
   1. On the Totals tab, replace each of the open amounts with the report’s Open Derived amounts.
   2. Replace each of the various unreconciled amounts with the correct report’s Unreconciled Derived amounts.
   3. After you correct the open and unreconciled amounts, press Enter to update the Open total and Unreconciled total.

Can the CM Bank Account Balance Verification report be ran for one bank instead of all of them?
CM Register Balance is incorrect after canceling a Split Deposit or Split Withdrawal entry
Reconciling Cash Management to Cash Management
Deleted transactions in Edit Register do not update bank balances