The transaction is not in balance warning when posting End-of-Day files to Reckon Accounts

Legacy KB ID: 5514

Question

Why do I get a "The transaction is not in balance" warning when posting a POS end-of-day file to Reckon Accounts? (I summarise transactions) 

Answer

Make the necessary adjustments in the QBError.IIF file and import it into Reckon Accounts through Files > Utilities > Import > IIF

 

The Issue

This issue arises from items within Reckon Accounts that lack an associated account link. If these items are transferred to Point of Sale (POS) and then sold, the resulting end-of-day file from POS will be out of balance as it will be missing one or more rows for the sale(s) of these items.

All items apart from Group and Subtotal items should be linked to an account.

To see if this is the reason for your end-of-day file being out of balance:

  1. Open the Item List in your company file in Reckon Accounts
  2. Add the Account column if it isn't showing.
    1. If all items apart from Group and Subtotal items are showing an account, then your issue is not directly covered by this KB, however it may be useful to view the details under 'To fix any out of balance end-of-day files' below.
    2. If there are items (apart from Group and Subtotal items) that are not showing an account then edit each of these items, and set the account.
  3. Perform a Transfer in Point of Sale Administrator. Any sales from then on should be balanced.
In Reckon Point of Sale 2017 onwards, the user is warned during a Transfer if items without accounts are found, and new items without accounts are not imported into Point of Sale.

 

Detailed Instructions:

To fix any out of balance End-of-Day files:

  1. Make a copy of the appropriate QBError IIF file (located in: C:\Users\Public\Documents\Intuit\QuickBooks\ImportErrors)
  2. Open the original QBError IIF file in Microsoft Excel.
  3. If the End-of-Day file is summarised
    1. Sum the figures in the AMOUNT column (column G) by dragging the cursor over them from the beginning to the end of the transaction, then clicking the AutoSum button. This will put a total in the AMOUNT column in the ENDTRANS row.
    2. Sum the figures in the TAXAMOUNT column (column S) by dragging the cursor over them from the beginning to the end of the transaction, then clicking the AutoSum button. This will put a total in the TAXAMOUNT column.
    3. In a balanced transaction, the two totals when added together equal 0. In this transaction you will need to add a new row to balance the transaction.
    4. Insert a new row before the first payment row in the transaction
    5. Copy the first 3 columns of data from the row above into the new row. Check that the date in the third column stays the same.
    6. In the fourth column of the new row, add the name of an existing income account that the missing income will be assigned to, for example, 'Misc Income'.
      If you know which item is missing from the transaction, use the account for that item, the tax code for that item (in the step below) and add the item name into the INVITEM column. If it's an inventory item and you know the quantity sold for the day, enter that quantity as a negative into the QNTY column (column k) for the new row, else the quantity will be recorded as 1 in Reckon Accounts.
    7. If your sales generally include GST, add the text GST to the TAXCODE column (column Q) and Y to the TAXABLE column (column O) of the new row, else just add N to the TAXABLE column.
    8. Add the two totals of the AMOUNT and TAXAMOUNT columns.
    9. If you didn't add 'GST' to the TAXCODE column of the new row, then just add the negative of this amount to the AMOUNT column of the new row.
    10. If you did add 'GST', then calculate 10/11 and 1/11 of the total of the totals, and round these new amounts to 2 decimal places (and ensure they add up to the total).
      Put the negative of the 10/11 amount into the AMOUNT column and the negative of the 1/11 amount into the TAXAMOUNT column of the new row. For example, the total of the totals comes to 32. 10/11 of 32 rounds to 29.09 while 1/11 of 32 rounds to 2.91 and they add together to give 32. -29.09 goes in the AMOUNT column and -2.91 goes into the TAXAMOUNT column.
    11. In the MEMO column of the new row add some text to explain, For example, 'balancing amount to fix unbalanced end-of-day file'
    12. Delete the two totals of the AMOUNT and TAXAMOUNT columns on the spreadsheet that we added.
    13. Save the file. Click 'Yes' to the question 'QBError....  may contain features that are not compatible....' then close the file. Click 'No' to 'Do you want to save changes...'
    14. In Reckon Accounts select File > Utilities > Import > IIF Files and browse to where the QBError file is and import it. 
    https://www.reckonlimited.com.au/dataservices/KB_Images/FixedEndOfDayFileExample.jpg
  4.  If the end-of-day file is not summarised (if you got a warning '..one of your items does not have an account..')
    1. Find any items in column 'M' (the 'INVITEM' column) that had no account in Reckon Accounts. They will have no account in the 'ACCNT' column (column D) for those rows. Enter the correct account name into the 'ACCNT' column for those rows.
    2. Save the file. Click 'Yes' to the question 'QBError....  may contain features that are not compatible....' then close the file. Click 'No' to 'Do you want to save changes...'
    3. In Reckon Accounts select File > Utilities > Import > IIF Files and browse to where the QBError file is and import it.

 


Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or Log a Support Ticket: https://www.reckon.com/au/support/

 


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