A/P Check - Bank Reconciliation
Posted: Fri Feb 28, 2020 3:49 pm
We are on Powerchurch v12.2
I have an issue with reconciling a check on the bank statement.
1. We entered an accounts payable invoice for $1,132.50.
2. We paid this invoice via "Pay Open Invoices"
3. Check was printed for $1,132.50
4. Posted to accounts payable, which then posted through to Fund Accounting
Now I am trying to reconcile the bank statement. The check cleared the bank for $1,132.50. However, in the bank reconciliation screen, the check is showing up with the amount of $1,400.00. When I click to view the transaction (or view posted transactions) it shows the expense debited for $1,400.00, and my cash (checking acct) credited for $1,400.00.
Down in the "Transaction Notes" field it says:
Vendor ID: 52458
This check paid the following invoice(s):
Invoice #133094617 1/06/2020 1,132.50
Memo: INV#133094617
How did the check print the correct amount, and yet when posted to Fund Accounting, the amount is totally different?
I know I can reverse this in Fund Accounting, enter a correcting journal entry, and clear the check to reconcile, but I am curious how and why this happened, and has anyone else experienced this as well?
Thanks.
I have an issue with reconciling a check on the bank statement.
1. We entered an accounts payable invoice for $1,132.50.
2. We paid this invoice via "Pay Open Invoices"
3. Check was printed for $1,132.50
4. Posted to accounts payable, which then posted through to Fund Accounting
Now I am trying to reconcile the bank statement. The check cleared the bank for $1,132.50. However, in the bank reconciliation screen, the check is showing up with the amount of $1,400.00. When I click to view the transaction (or view posted transactions) it shows the expense debited for $1,400.00, and my cash (checking acct) credited for $1,400.00.
Down in the "Transaction Notes" field it says:
Vendor ID: 52458
This check paid the following invoice(s):
Invoice #133094617 1/06/2020 1,132.50
Memo: INV#133094617
How did the check print the correct amount, and yet when posted to Fund Accounting, the amount is totally different?
I know I can reverse this in Fund Accounting, enter a correcting journal entry, and clear the check to reconcile, but I am curious how and why this happened, and has anyone else experienced this as well?
Thanks.