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Knowledgebase: Transactions
Can I adjust a financial transaction without affecting my bank reconciliation?
Modified on 14 March 2013 07:27 PM

Yes, adjusting a receipt/cheque without affecting the Bank reconciliation is possible.

  • A receipt / Payment type needs to exist that is not attached to the GL bank account involved with the Bank Reconciliation. The GL account can be a clearing account of some form and must always net to a zero balance.
  • The receipt / Payment can then be Re-allocated (these steps are covered in the “Re-allocating receipt entered in closed period” white paper).
  • When the new receipts are created they will use the new receipt / payments type mentioned in the first step.
  • This will create a debit and credit respectively with the reversal and new receipt and the GL clearing account will net off to zero.

This method of using a receipt / payment type posting to a clearing account, will be of use for all types of corrections that need to be made where a negative and positive receipt or payment is being processed in order to make a correction. Yet you do not want to affect the reconciled page balances.

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