Special Issues

Occasionally there are issues that don't easily fall into the patterns of reconciliations that are set up in RecWizard. That doesn't mean there is no way to do the reconciliation, you just may have to think creatively about how to handle the problem.

In this section we will review methods you can use to solve these problems. As you will see, there are ways to handle many complex reconciliation issues if you think creatively about how to address the problem.

If you come up with unique reconciliation problems, or creative ways to solve your challenge, please contact us. We'll add your solution to our tutorial so others can benefit from your perseverance and problem solving ability.

The following index briefly describes some reconciliation challenges. You can then click on the link to go to the detailed solution.

Import General Ledger Balances - if you are reasonably computer savvy and want to speed up the entry of your Period End Balances into RecWizard, we have provided a tool to let you electronically import that information. Click here to Import GL Balances.

Prepaid Taxes - normally you receive the tax bill in advance of your amortization period. This allows you to set up the amortizable item before the actual amortization period begins. Sometimes you have a situation where the tax bill doesn't come in before you begin the amortization period. Click here to see the solution for the Tardy Tax Bill Dilemma.

Multiple Entities or Companies - if you have several different companies that you are preparing reconciliations for, you may want to set up separate databases for each of those entities. Click here to see how to set up multiple databases and access them if you're a Multiple Entity User.

Period Ends are not Calendar Month Ends - some industries have come up with their own way of identifying accounting periods that is different that the traditional Julian calendar. If you're in one of these industries you will recognize the terms "5 - 4 - 4" or "13 - 4's" or "4 - 5 - 4". Usually your period ends are always the same day of the week - Saturday or Sunday. These "non-traditional" period end dates can easily be handled by RecWizard. To see what you need to do differently, go to the solution for Odd Period Ends.

Changing Reconciliation Types - if you want to change the reconciliation type for an account, review the instructions on the Reconciliation Types page of the tutorial.

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