Why do transactions from previous months appear in my unmatched bank reconciliation tab?

When completing a bank reconciliation in iplicit, you can submit the reconciliation before every transaction has been matched. Any unmatched transactions carry forward automatically into the next period's bank reconciliation. This article explains why transactions from previous months appear in the unmatched tab and how to avoid balance discrepancies in the Bank Reconciliation module.

Why previous months' transactions appear in the unmatched tab

iplicit does not discard unmatched transactions when you submit a bank reconciliation. If a transaction was not matched during its original period, it remains in the unmatched tab and appears in all subsequent bank reconciliations until it is matched.

This is expected behaviour. The unmatched tab in Bank Reconciliation shows every outstanding transaction regardless of which period it originated in.

How to avoid balance discrepancies after reconciliation

Complete each bank reconciliation only after every transaction within that period has been posted to the Bank Reconciliation module. If transactions are backdated into a period after the reconciliation for that period has already been submitted, the following balances will not agree:

• Trial Balance and Balance Sheet figures
• Closing balance per cash book

If you need to post a transaction into a period that has already been reconciled, you can still post the transaction - it will appear in your most recent bank reconciliation to be matched.