When starting the reconciliation, GLS makes a calculation adding together all of the reconciled activity in the account you’re reconciling. If this calculation does not match your statement beginning balance, the discrepancy message is displayed.
The Calculated Beginning Balance is used to make sure that your balances are accurate. The calculated balance can be different from the statement balance for a number of different reasons. The message provides the option to print a GLS Reconciliation Discrepancy Report. This report will show balances, the total of manually reconciled entries (if any), information about the last reconciliation, and outstanding items. This information can be used to troubleshoot the message.
Because there can be several reasons for the message to be displayed, we recommend troubleshooting this message using Knowledge Base Article R11661, “GLS Reconciliation Troubleshooting.” This article provides a list of possible reasons why the Calculated Beginning Balance might not match the beginning balance from your statement, as well as how to correct it.
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