I am currently trying to reconcile a bank statment for August 08, We use Version Power church 9, our operating system here is Windows 98.
I have mistakenly reversed a transaction twice. I want to know is there a way I can force a balance for the month. I know for sure all transactions have been entered correctly, but I need to balance this month before I can continue. Please advise
Reconciling bank statement - force reconcilation
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JohnDMeyers
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You can enter two correction entries, if you intend on clearing both of the transactions.
If you meant to cut a check from 01-1110, for example,and the expense account is 01-5550, then your two incorrect entries have a debit in 01-1110, and a credit in 01-5550.
Any transaction you enter that includes 01-1110 will show up in the reconciliation window. So, you credit 01-1110 twice and debit 01-5550 twice (or double the amount in a single transaction). Post the correction entry, and it will show up in the reconciliation window, in this case, in the lower window with the checks. Mark these corrections and the two original transactions as reconciled, and they will not affect you true checking balance.
If your mistake was the other way, then debit 01-1110 twice (or double the amount in a single transaction) it will appear in the upper window after posting.
Note: I always use a reference that starts with the check number, like 23957CORR so that appears close to the original check in the reconciliation window.
If you meant to cut a check from 01-1110, for example,and the expense account is 01-5550, then your two incorrect entries have a debit in 01-1110, and a credit in 01-5550.
Any transaction you enter that includes 01-1110 will show up in the reconciliation window. So, you credit 01-1110 twice and debit 01-5550 twice (or double the amount in a single transaction). Post the correction entry, and it will show up in the reconciliation window, in this case, in the lower window with the checks. Mark these corrections and the two original transactions as reconciled, and they will not affect you true checking balance.
If your mistake was the other way, then debit 01-1110 twice (or double the amount in a single transaction) it will appear in the upper window after posting.
Note: I always use a reference that starts with the check number, like 23957CORR so that appears close to the original check in the reconciliation window.