Common GL Balancing Issues

Related Topics

I was comparing my 410 Report on my loans by loan type section and my total loans do not match my 290 Report.

The 410 Report reflects the member's account summary, while the 290 Report reflects the balance in the general ledger accounts. If the two do not match, then here are some issues to look for:

  • There was an entry made to a general ledger directly that did not affect the member's balance. To discover the general ledger entry, find out what loan types are tied to that general ledger and add them together to see if it comes back to the general ledger total.
  • There was a teller open across month-end. If this occurs you will need to look at the 280 Report to see if there are any effective-dated transactions to prove this theory. Then, there is nothing you can do except to make sure the teller is closed now, then it will balance back out next month. One month will be over and the next month short and they will wash each other out.

My 739-200 GL always reflects a 0.00 balance at the end of the day. Last night the GL had an ending balance. How do I find out what caused this? Here are some issues to look for:

  • Was the teller left open overnight?
  • Did the teller's checks for deposit and checks disbursed balance?
  • Are there any check reversals that got hung up?
  • Was there a direct posting to the GL?
  • Did the teller not use product code CD directly?
  • Was there an on-us check clearing that actually posted to the members account?

We posted recovery funds to my charge-off general ledger 719-000 and today I am looking at the GL History window to see the credit and I do not see it?

If you have a CO loan type with 719-000 listed as the principal general ledger, then you will not see each item listed. You will only see direct postings to the general ledger completed using the Adjustments tab. All other transactions will be bulked in the total debit and credit for the day. If you pull the 280 Report for that day, then you can see the teller totals posting to the general ledger for that day. If you want to see what members were affected, you will need to review the Teller Journaling - Transaction Journal tab for the teller on that day.

I am looking at my 290 Report. Why does the net income general ledger not match the net income located at the bottom of the report?

The Net Income GL (960-000) reflects the balance in that individual GL and the Net Income located at the bottom of the report is the NET of all the debits and credits on the report.

I am looking at my General Suspense GL 999-999 and there is a posting that has a description of FORCE BALANCING. How do I find out what this item is?

This generally occurs when back office is trying to post something automatic. The credit union can check the following reports:

  • Transfer File
  • Payroll
  • ACH

Normally, this ends up being a member's automatic post to an IRA account.

I am looking at my Inter Branch GL 998-400 and there is a credit balance, why?

Inter branch GLs are used by the system to move funds between the branches. If you look at the GL Activity window for that GL, you will see a credit in one branch and a debit in the other branch. If you select the Daily Totals and Balances check box on the GL History – Prior Day window, then the Net balance or credit union total should be 0.00. If it is, then they are in balance. You should run the 295 Report to obtain the credit union totals, then the GLs will reflect a 0.00 balance for the auditor.