Page 1 of 1
RECONCILIATION QUESTIONS
Posted: Sat Oct 24, 2015 7:23 pm
by Dione Clagg
I am having problems with my reconciliation being off the exact amount of the credit card transactions for the week that wasn't on Aug statement. The bank will have it on the next statement but what do I do with this now?
Appreciate so much your help!
Re: RECONCILIATION QUESTIONS
Posted: Sat Oct 24, 2015 11:51 pm
by NeilZ
dione wrote:I am having problems with my reconciliation being off the exact amount of the credit card transactions for the week that wasn't on Aug statement. The bank will have it on the next statement but what do I do with this now?
Appreciate so much your help!
I'm not sure I understand. Are you reconciling the checking account or a credit card account ??
Re: RECONCILIATION QUESTIONS
Posted: Sun Oct 25, 2015 9:57 am
by Dione Clagg
The checking account. We take credit cards for tithes and offerings, but the one in Aug 30 th didn't get on the Aug. statement. So I show that my deposit posted by PC is 194, too much to balance.
Re: RECONCILIATION QUESTIONS
Posted: Sun Oct 25, 2015 3:28 pm
by NeilZ
dione wrote:The checking account. We take credit cards for tithes and offerings, but the one in Aug 30 th didn't get on the Aug. statement. So I show that my deposit posted by PC is 194, too much to balance.
Then you're going to have to reverse that deposit transaction, and re-enter that deposit without that credit card entry.
Re: RECONCILIATION QUESTIONS
Posted: Sun Oct 25, 2015 5:07 pm
by tborgal
I don't understand. If it is not on the statement just don't reconcile that transaction. Or am I missing something.
Re: RECONCILIATION QUESTIONS
Posted: Sun Oct 25, 2015 5:52 pm
by Dione Clagg
The complete transaction is $1528, less the 194 credit cards debits so its 1300+. So should I just reverse the credit card part or reverse the whole entry and repost as two different entries for the same day. Sorry accounting is not my main talent!
Re: RECONCILIATION QUESTIONS
Posted: Sun Oct 25, 2015 6:59 pm
by tborgal
I understand now. In such case it would seem that Neil's solution would resolve the problem.
Re: RECONCILIATION QUESTIONS
Posted: Sun Oct 25, 2015 8:33 pm
by NeilZ
dione wrote:The complete transaction is $1528, less the 194 credit cards debits so its 1300+. So should I just reverse the credit card part or reverse the whole entry and repost as two different entries for the same day. Sorry accounting is not my main talent!
First off, reverse the entire deposit since (I'm assuming) that it was all entered together. Then re-enter the deposit as a new transaction in Funds Accounting with everything but the $194 credit card entry.
Then enter the remaining $194 as a separate deposit transaction so you'll be able to clear that on the next month reconciliation.