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Use the following checklist to identify and resolve the issue:
1. Verify Cash Balance
Open the Cash Assets Balances Report.
Money module > Reports > Cash Assets Balances
Select the relevant filters: choose the Entity, Cash/Bank Account, and Balance Date.
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Example: Today’s balance looks fine, but if you schedule a payment for next week that will make the balance negative, the system won’t allow today’s posting because it would eventually cause a shortfall.
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Note!!!
The system checks balances up to the selected date, not the document date.
This means payments can be created in advance, even if no balance exists on that document date.
For accurate reporting, always use the Current Date as the "On Date".
Enter documents on the actual date received/paid, and repost any pre-dated or post-dated documents to ensure correct balances.
2. Type of Cash Account/Entity
Check that the correct Cash Account is selected in the document. Sometimes accounts may have the same name but different codes (for example, two accounts named PETTY CASH). To avoid confusion, it is advisable to keep a slight difference in their descriptions. Always verify the Account Code when posting to ensure the correct account is used.
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If multiple entities exist, verify that the correct Entity and Account are selected, then post the document.
3. Check Document Chronology and Compliance
Ensure that all documents (receipts, payments, transfers) are recorded in the correct chronological order.
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A list of documents contributing to the balance will then be displayed. This will help identify any missing documents or incorrectly dated entries and ensure the running balance is accurate.
4. Review GL Movements
To review GL movements, generate the statement for the relevant GL account (e.g., 2050100 - Cash on Hand) and check the debits, credits, and running balances up to the posting date to identify why the error occurred
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