Support,
I have about 12 outstanding checks from 2009 thru dec 2010. I need to correctly get rid of them, void or something. I need help in doing this the correct way to stop this come up ever month during reconciling.
tommy
how to handle old outstanding checks
Moderators: Moderators, Tech Support
Re: how to handle old outstanding checks
Are they truly outstanding, as in they were never cashed ??wellspringcc wrote:Support,
I have about 12 outstanding checks from 2009 thru dec 2010. I need to correctly get rid of them, void or something. I need help in doing this the correct way to stop this come up ever month during reconciling.
tommy
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
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Matt
- Authorized Teaching Consultant
- Posts: 733
- Joined: Fri Dec 05, 2003 4:04 pm
- Location: Jacksonville, AL
Re: how to handle old outstanding checks
Just go in Fund Accounting and Posted Transactions and reverse the checks that have never cleared. You may also want to add a note to the transaction explaining why it was reversed. Once you post the reversals you will be able to clear the check and the reversal on the bank recon.
I would not void the checks because the checks were never actually voided. If you do the reversals, in the unlikely event that one of the checks ends up clearing the bank statement later on, you can just "Reverse the Reversal".
I would not void the checks because the checks were never actually voided. If you do the reversals, in the unlikely event that one of the checks ends up clearing the bank statement later on, you can just "Reverse the Reversal".
Re: how to handle old outstanding checks
To add to what Matt said, when you reverse a posted transaction it will be found in Modify unposted transactions under Fund Accounting. That is where you can go to add a note as well as pick a posting month in the case that the original posting month has been closed. You shouldn't change the actual transaction other than that because then it won't be a true reversal. Changing a reversal does not change the original transaction, it merely zeros it out of the affected accounts. 