Account reconcilitation

[TBCgunni]

V 11 - I am reconciling for July 2011. In the top box 'Deposits and other Additions" I have a voided ck and a transfer both dated 6-1-11. When I clear them they make my balance (reconciled balance) the amount of them totalled. How do I get them to clear and have my balance reconcile? I know that I need something down below to check with them, but I am not sure what I have done. I hope this makes sense. Elida Jacobs

[NeilZ]

V 11 - I am reconciling for July 2011. In the top box 'Deposits and other Additions" I have a voided ck and a transfer both dated 6-1-11. When I clear them they make my balance (reconciled balance) the amount of them totalled. How do I get them to clear and have my balance reconcile? I know that I need something down below to check with them, but I am not sure what I have done. I hope this makes sense. Elida Jacobs

OK ..

you have a voided check, and a transfer in the Deposits and other additions block. When you clear them, the To Balance shows the total of the the two items.

It appears you don't have an offsetting amount in the Checks and other subtractions block. I know the symptom, and I know what I've done to fix it, enter transactions to have the offsetting amount in the bottom block. That said, I'm not sure if I've done it right in the past. Hopefully John will come by to give us both a hint.

[JohnDMeyers]

From what I can understand, it sounds like the bank account is reconciled BEFORE you clear these two items, and it becomes off by the total of the two items when you clear them. Is this correct?

If so, it means that you already cleared them.

Change your option to show ALL items, not just the UNRECONCILED items, and see if you have already cleared these two items.

[NeilZ]

John,

do you mean the 'offsetting' items have already been cleared ??

[JohnDMeyers]

Neil:

I'm thinking that there must have been another set of the same entries.

Maybe I am not grasping the whole picture.

If clearing the VOIDED check makes the reconciled amount off by the amount of the VOIDED check, then I suppose there are three possibilities:
1) Another VOIDED check entry was already entered and cleared
2) the original check entry was never reconciled
3) the original check was posted in accounts payable (or payroll) and never posted in fund accounting

[tborgal]

I have had this catch me in the past as well. It is not always understood that when you void a transaction that you need to clear it in both the "Deposits and Other Additions" list, and in the "Deposits and Other Additions" list as well. From what I read of the original post it sounds like only the former was done. The original check and transfer are most likely not yet cleared. John's option 2

[TBCgunni]

Thank you for all the responses. I fixed the one that was a voided check - entered a manual check to offset it. But the other transaction is a transfer. I am not sure how to offset that????THANK YOU!!!

[NeilZ]

Thank you for all the responses. I fixed the one that was a voided check - entered a manual check to offset it. But the other transaction is a transfer. I am not sure how to offset that????THANK YOU!!!

Where did you transfer from ?? Did you use the transfer accounts ??

[TBCgunni]

That is it - I am not sure that I am doing transfers right. It was from checking to a Fund Balance Account.

[JohnDMeyers]

If you were transferring it "on your books" but not really transferring it as far as the bank is concerned, then you need two transactions with two accounts per transaction.

To transfer from fund 02 checking to fund 01 checking, for example, where both fund 01 and fund 02 use the same bank account, would look like this:

Out of Fund 02 checking:
CR 02-1110-000 checking $100.00
DB 02-9110-000 transfer $100.00

Into Fund 01 checking:
DB 01-1110-000 checking $100.00
CR 01-9110-000 transfer $100.00

[TBCgunni]

I get it - we only have one Accounting Fund - I am talking about transferring within that Accounting Fund - The transaction that is showing up on the reconciliation transferred from our one Accounting Fund (01) to a Fund Balance account. This was not right way to do it I am assuming. Should I have used General Offering and then into the other account????? Thanks.....

[JohnDMeyers]

If you did this:

DB or CR 01-1110-000 checking $100.00
CR or DB 01-3110-000 fund balance $100.00

That doesn't "transfer" money. That creates a beginning balance or shows a loss, depending on which way you use the DB and CR.

You should undo that transaction and do another one which doesn't include the bank account as one of the accounts in the transaction.

What is it that you are trying to do with this "transfer"?

[TBCgunni]

Okay, I get it....thank you. Elida