As part of reconciling your End of Month reports in Eagle, the Variation between the Bank and Cashbook balance should always equal $0.00.
The following information helps to explain why this might not be the case for your report, and how to achieve a $0.00 balance.
When there's a Negative balance?
If you see a negative amount instead of $0.00, this suggests that the end-of-month bank balance entered for the report is lower than the total of all payments and receipts entered for the month in Eagle. To address this:
First, confirm this bank balance is correct, as it appears on your bank statement for the final day of the month
If it's correct, then the issue is likely due to either the following:
A missing trust payment in Eagle that needs to be entered and reconciled, OR
A trust receipt in Eagle dated for a previous month that has been reversed dated the current month. Note: Reversals should always be dated the same date as the original transaction or at least the same month otherwise these variations will occur
If your reversal is on a different date and month to the original transaction, please email us at [email protected] as this date will need to corrected via the back end to help you reconcile.
For more information on reconciling your trust account, please refer to our knowledge articles below.