Year Old Check Cashed

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PVPC-Shelly
Posts: 2
Joined: Thu Aug 05, 2021 12:07 pm

Year Old Check Cashed

Post by PVPC-Shelly »

I am new to the bookkeeping job at my church and need help with a situation. Or I may be overthinking it!

I had a check from June 2020 recently cashed by a vendor. Since this check was not showing up on my reconciliation reports, I'm assuming the previous BK accidentally marked it as cashed before this time. Now my thinking is it doesn't really affect my books from last year since it is a closed year. But my concern is that now my checking account is off the $532. Am I right in thinking this? If so, how do I fix it?

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Re: Year Old Check Cashed

Post by NeilZ »

PVPC-Shelly wrote:
Thu Aug 05, 2021 12:48 pm
I am new to the bookkeeping job at my church and need help with a situation. Or I may be overthinking it!

I had a check from June 2020 recently cashed by a vendor. Since this check was not showing up on my reconciliation reports, I'm assuming the previous BK accidentally marked it as cashed before this time. Now my thinking is it doesn't really affect my books from last year since it is a closed year. But my concern is that now my checking account is off the $532. Am I right in thinking this? If so, how do I fix it?
This is one of the reasons the program (V12.2) will let you reopen closed years, and don't advise closing months. There really isn't a need to, as things like this sometimes happen.

What I would do is check last years reconciliation report to see exactly what was done with the check. If it was 'checked off' as clearing the bank or, more than likely it may have been voided in the system but the bank was not contacted to put a 'stop payment' on the check there.

If it was indeed voided last year, then you would need to account for the check in some way . If you have v12.2, you can create and POST the check in the correct month last year. You would then RECONCILE that check in your next reconciliation.

In future, what I would do is this: If a check has not been cashed within 3 or 4 months, I would contact the vendor to see if they received it, or misplaced it. If they cannot find it, I would VOID the check, and reissue a new check using the same date and other information as the original check. I would then contact the bank and put a 'stop payment' on it., so it cannot be paid in future.
Neil Zampella

Using PC+ since 1999.

PVPC-Shelly
Posts: 2
Joined: Thu Aug 05, 2021 12:07 pm

Re: Year Old Check Cashed

Post by PVPC-Shelly »

That is most helpful. Thank you! I'm using v11.55 - so I need to see about getting the latest. Thanks again!

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Year Old Check Cashed

Post by NeilZ »

PVPC-Shelly wrote:
Fri Aug 06, 2021 8:05 am
That is most helpful. Thank you! I'm using v11.55 - so I need to see about getting the latest. Thanks again!
The Upgrade is only $159.00 for the download only, and $179 for the Download, along with the CD and printed manual. Its worth the extra $20.00.

https://www.powerchurch.com/products/pcplus/?id=160

As far as what you can do now on V11.55, if they voided the check last you, you'll need to reenter the check (as a MANUAL CHECK) but it will show in this year's reports. Not much you can do other than document as much as you can in the notes section about what happened.

If the check was 'checked off' last year by accident, then I'm surprised there wasn't a problem at the time of reconciliation as that would have been 'off'. It should have been carried as a non-cleared check. I suspect that they finally voided the check but didn't stop payment at the bank.
Neil Zampella

Using PC+ since 1999.

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