As part of the setup on Scribe for new users, the opening bank balances as at the 1st April will need to be entered so that Scribe has a starting position for your bank reconciliations. This is done under Setup/Bank Balances.
When setting the opening bank balances against your bank accounts remember this is NOT the statement balance as at the 1st April. The opening balances need to be the cashbook figures - the adjusted figures for any unpresented cheques at year end. For example, if the bank statement has a closing balance of £600 but you had sent a cheque payment off for £100 before the year end then the balance to be entered on Scribe should be £500.
The total of your bank accounts' opening balances (plus petty cash if you use it) should be equal to Box 8 on your Annual Return and entered in Setup/Restate Last Year/Cash at Bank. Remember Scribe requires the figures including pence so this may need adjusting from the rounded up figures on the AGAR.
How to deal with unpresented cheques?
In the first year of using Scribe you may initially have a bank reconciliation difference due to the the unpresented cheques at the previous year end. This is because you have entered the opening bank balance as if all the unpresented cheques had been cashed. If the unpresented cheques are not all cashed by the end of April (or whenever you complete your first bank reconciliation) then you should expect a difference equal to the value of the unpresented cheques from the previous year that have still not been cashed.
When an unpresented cheque from the previous year appears on the bank statement it does NOT need entering/reconciling on Scribe as it has been dealt with in the previous financial year and in the adjusted balance entered on to Scribe. It can simply be ticked off on the statement and a record kept that it has been cashed in order to give an up to date value of the cheques still waiting to be cashed from the previous year.
Once all the unpresented cheques from the previous year have been cashed and have appeared on the bank statement there will be no bank reconciliation difference.
NB. This only applies to new users who have not yet completed a year end in Scribe. If you have used Scribe in the previous financial year then any transactions entered that had not been presented in that year will appear in the new year in the bank reconciliation screen to tick off when they appear. As they are entered on to Scribe there will be no bank reconciliation difference.
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