Hi,
I have a huge problem going on, I'm hoping someone here can help me. I was working on reconciling the bank statement when I noticed I have two transactions that are making my balance not match (one is a repeated transaction and the other a credit/debit mix up that I reversed) and I'm over the correct amount. The problem is, all my transactions are posted already and I failed to check before posting! I could be wrong, but I've read that once transactions are posted, that's it, no fixing them.
I don't mind re-doing the month, but I'm unsure on how to do so.
If anyone can guide me I would truly appreciate it.
Hi,
I have a huge problem going on, I'm hoping someone here can help me. I was working on reconciling the bank statement when I noticed I have two transactions that are making my balance not match (one is a repeated transaction and the other a credit/debit mix up that I reversed) and I'm over the correct amount. The problem is, all my transactions are posted already and I failed to check before posting! I could be wrong, but I've read that once transactions are posted, that's it, no fixing them.
I don't mind re-doing the month, but I'm unsure on how to do so.
If anyone can guide me I would truly appreciate it.
thank you!
Not exactly true. However, I have a question. If you uncheck the transactions, what happens? Does it then reconcile? I'm trying to understand what you mean by 'over the correct amount', do you mean that you're showing more money in Powerchurch, then what the bank statement showed for the end of the month?
As far as fixing posted transactions, as I said, that's not exactly true. If you closed the month (which is NOT recommended) you'd have an issue if you were using v11.x of Powerchurch. V12 allows you to reopen closed months.
However, it does not sound like this is the case here, you just posted the transactions. Not knowing where you entered these transactions all I can advise is to go into the module and void the check there. If you could come back with more info about the transactions, and where you entered them I can be more specific.
Thank you for your prompt response!
When I uncheck one of the transactions that was entered under the "Accounting, enter transactions" tab, it appears under " deposits and other additions when reconciling, so my deposits and additions are over. The second transaction I'm having trouble with, was entered twice, I don't know how to delete it, since I already posted. These transactions put me over the bank statement amount, I'm showing more money in Powerchurch than what the bank statement shows.
I'm fairly new with accounting in Powerchurch, so I wouldn't know how to void a check. if you could walk me through on how to do it, I would appreciate it very much.
Thank you for your prompt response!
When I uncheck one of the transactions that was entered under the "Accounting, enter transactions" tab, it appears under " deposits and other additions when reconciling, so my deposits and additions are over. The second transaction I'm having trouble with, was entered twice, I don't know how to delete it, since I already posted. These transactions put me over the bank statement amount, I'm showing more money in Powerchurch than what the bank statement shows.
I'm fairly new with accounting in Powerchurch, so I wouldn't know how to void a check. if you could walk me through on how to do it, I would appreciate it very much.
Find the check in Accounts Payable by looking up the vendor it was written to. Look at the history, select the check, and click on the VOID button. The exact procedure is in the v12 Powerchurch manual on page 267.
and I failed to check before posting! I could be wrong, but I've read that once transactions are posted, that's it, no fixing them.