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Corrected transactions are showing on the next month's bank rec

Created on  | Last modified on 

Summary

What to do when old transactions appear.

Cause

  • Bank reconciliation entries are based on journal entries and not the cheque or transaction number
  • If you do a correction, then the system takes the next available journal number as the reversal
  • Then it reposts the next journal number as the entry
  • The original entry and the reversal will be automatically cleared on the bank rec
  • The next journal posting (original transaction) will not be cleared

Resolution

  1. Look in the Reports, Banking, Account Reconciliation Report....
  2. Use the Report Type, Summary Report with Outstanding Transaction Details.
  3. If there is a ' * ' after any outstanding transactions, then they were posted and/or corrected after the month was reconciled.
  4. Reset the bank rec.