Detailed Suspense Reconciliation

If the overall suspense balances are not matching the balances in the suspense accounts then you will need to do a more depth investigation to determine where the discrepancy came from. The first step is to create a "Custom Transaction Detail Report" in QuickBooks to help you see the detail of what has posted. The instructions to create and "memorize" this report are listed below in the section titled "Creating a Detailed Custom Reconciliation Report in QuickBooks".

Step 1: Find owners with a Discrepancy
Print the suspense report in SherWare with a report type of "All Legal Suspense Entries" (for legal suspense) or Cumulative Owner Deficits (for deficit suspense), for the most recent run number. Mark the option to "Summarize by Owner" and to "Include Suspense Entries from All Groups". This report will show the total suspense balance for each owner. Compare the total listed on the suspense report to each owner's total balance on the custom reconciliation report in QuickBooks for the respective suspense account. Take note of any owners that do not match up.

Step 2: Determine which well has the discrepancy
Print the suspense report again for each owner that you found a discrepancy with. This time mark the option to "Subtotal by Well ID" and to "Include Suspense Entries from All Groups". Do not mark the option to "Summarize by Owner". This report will then total the owners suspense balance by well. You can compare the total listed for each well on the suspense report to the total listed for each well on the custom reconciliation report in QuickBooks. Take note of any wells that do not match up.

Step 3: Finding the discrepancy within a well
Using the same report from Step 2 you can then look into each of the problem wells since this is sorted by well. You can compare each suspense entry on the suspense report to each line on the custom reconciliation report in QuickBooks.
These two reports should match exactly. A few things would cause them to not match up exactly. If anything does not match then that is a problem that you will have to look into. The first thing you can do is to view the "Discrepancies" section below to see if any of those would have caused this discrepancy.

Step 4: Fixing the discrepancy
By this step you should have a pretty good idea of what the discrepancy is. If the amount did not post correctly to QuickBooks then you will need to make a journal entry to correct the balance of the suspense account. If you feel something was not properly allocated in SherWare then you will need to make a correcting entry in SherWare so that the amounts that are disbursed can get corrected. A correcting entry in SherWare can be made by adjusting the suspense balance on the "Suspense Beginning Balances/Adjustments" window or just entering additional revenue or expenses that can process on the next run.

Step 5: Reporting the discrepancy
If you feel the issue was a problem with the software or if you are not able to figure out how to fix the issue at this point then contact SherWare support for additional assistance.