Our church currently uses Power Church online. At the end of each month all bank accounts are reconciled to a "zero to balance" and monthly financials are prepared. For 4 months we have carried an outstanding check. However, it has been decided that a check needs to be voided that was written 4 months ago. What affect does voiding a check from 4 months ago have on the bank reconciliation procedure that for 4 months have had a "zero to balance"? Do you have to go back a redo bank reconciliations for those 4 months and then reprint monthly financial statements.
Thank you.
Bank Reconciliation & Voiding check
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Re: Bank Reconciliation & Voiding check
If the check never cleared the bank, then it would never show on the bank statement. Thus you shouldn't have 'checked' it off as reconciled. It would however, show up on the reconciliation report as an outstanding check, which is correct. There is no need to 'correct' anything for the past 4 months.fbctnc wrote:Our church currently uses Power Church online. At the end of each month all bank accounts are reconciled to a "zero to balance" and monthly financials are prepared. For 4 months we have carried an outstanding check. However, it has been decided that a check needs to be voided that was written 4 months ago. What affect does voiding a check from 4 months ago have on the bank reconciliation procedure that for 4 months have had a "zero to balance"? Do you have to go back a redo bank reconciliations for those 4 months and then reprint monthly financial statements.
Thank you.
When you void the check, you will see a 'void' entry for the check in the 'deposits' section, and the check in the regular check section. Just check both off, and you will still come to zero.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.