Incorrect posting date

[laanra]

I am using verson 11.1 currently. My question is ..... I incorrectly dated a Dec 2012 transaction Dec 2013. In the Selected Transactions report for 2012 I can see the transaction in question. I can also see the transaction which appears to be posted in 2013 in the Account Activity report. However, when I reconciled my bank statement for Dec 2012 I am off by the amount of the transaction. I can also see the transaction when I go to reconcile bank accounts and include Dec 2013. How do I fix this?

Will I have a problem if when reconciling Feb 2013 bank statement I include through Dec 2013 to clear that transaction? Will that cause a problem somewhere else?

thanks for any help anyone can give!

Lois

[NeilZ]

I am using verson 11.1 currently. My question is ..... I incorrectly dated a Dec 2012 transaction Dec 2013. In the Selected Transactions report for 2012 I can see the transaction in question. I can also see the transaction which appears to be posted in 2013 in the Account Activity report. However, when I reconciled my bank statement for Dec 2012 I am off by the amount of the transaction. I can also see the transaction when I go to reconcile bank accounts and include Dec 2013. How do I fix this?

Will I have a problem if when reconciling Feb 2013 bank statement I include through Dec 2013 to clear that transaction? Will that cause a problem somewhere else?

thanks for any help anyone can give!

Lois

I would reverse the transaction, then reenter using the correct date.

[laanra]

I figured that would be the fix but the original transaction posted to 2012 even though it was date 2013. Can I go back to 2012 and reverse since 2012 year is closed out?

Lois

[NeilZ]

I figured that would be the fix but the original transaction posted to 2012 even though it was date 2013. Can I go back to 2012 and reverse since 2012 year is closed out?

Lois

Did you actually close all the months in 2012 ?? Is December still open ?? If so, change the working month to December, you'll then be able to see the posted transactions for 2012. Reverse the transaction, and then post it to Dec 2012 with a date of 12/31/2012 .. be sure to include an explanation of why this reversal was done in the remarks area of the transaction.

FWIW .. in v11.x (and v10 I believe) you can keep up to 18 months open in Funds Accounting. You need to set this preference under the Accounting Preferences.

[laanra]

Dec 2012 is closed out. So I can't get in that year to reverse the transaction. Anyway, it did post to 2012 which is okay. I just can't reconcile my bank statement because that transaction doesn't show during reconciliation because of the Dec 2013 date. Can I simply reconcile my bank statement using Dec 2013 and clear that transaction? That will enable me to balance the bank statement, but will it cause any problems at the end of this year?

[NeilZ]

Dec 2012 is closed out. So I can't get in that year to reverse the transaction. Anyway, it did post to 2012 which is okay. I just can't reconcile my bank statement because that transaction doesn't show during reconciliation because of the Dec 2013 date. Can I simply reconcile my bank statement using Dec 2013 and clear that transaction? That will enable me to balance the bank statement, but will it cause any problems at the end of this year?

I don't understand.

It posted to 2012, but the transaction still shows in the system as Dec 2013 ???

[laanra]

I apologize, Neil....this is confusing. It is posted in 2012 even though the year in the original transaction is 2013. It did not appear on the bank reconciliation screen so that I could clear it. Therefore, the reconciliation is off.
When I search the transaction in 2013 everything seems to be okay, except that I can't clear it on the bank reconciliation. If I go into the reconciliation screen asking to reconcile Dec 2013 it is there all by itself. I'm wondering if it's okay to clear it that way or will it cause me problems at year end? It seems to me it wouldn't but I know I can be hit with surprises later when I do something I'm not sure of. I'm thinking the bank reconciliation doesn't affect anything else, reports, etc. Would you agree with me on that?

Thanks for letting me pick your brain.

Loia

[NeilZ]

I apologize, Neil....this is confusing. It is posted in 2012 even though the year in the original transaction is 2013. It did not appear on the bank reconciliation screen so that I could clear it. Therefore, the reconciliation is off.
When I search the transaction in 2013 everything seems to be okay, except that I can't clear it on the bank reconciliation. If I go into the reconciliation screen asking to reconcile Dec 2013 it is there all by itself. I'm wondering if it's okay to clear it that way or will it cause me problems at year end? It seems to me it wouldn't but I know I can be hit with surprises later when I do something I'm not sure of. I'm thinking the bank reconciliation doesn't affect anything else, reports, etc. Would you agree with me on that?

Thanks for letting me pick your brain.

Loia

OH ... now I see what you mean, while the action of POSTING was done in 2012, the transaction POSTING was actually to the month of Dec 2013.

You can't get back into 2012 because the month is closed. I would open reconciliation, elect to see ALL transactions, find it and clear it. I suspect that will correct your reconciliation, however, the transaction will affect all your 2013 reports.

I would also adjust your Accounting preferences to be able to keep 18 months OPEN at any one time. We've found that it pays not to close any month of previous year until actually needed, for this very type of reason. For example, in Dec 2012 we finally closed out July thru Dec 2011; thus giving us Jan thru Jun 2013 to have open. In June, we'll close out Jan thru Jun 2012, allowing Jul thru Dec 2013 ... and so on.

If that sounds too extreme, you can leave the last month of the year open until the first quarter or half of the next is done. Again, this is to allow you to correct any issues that may come up.