We have just switched to Acumatica from Sage and my first bank rec was a disaster!
I have 2 different banks to reconcile in 1 company. I was reconciling Bank A, but I used Bank B closing balance for this current bank reconciliation starting balance. Because it was the first month-end we hade to make some out-of-the-norm adjustments which is why I didn’t really understand or notice what I had done until closing the current period.
I want to know how to reverse October 2024 bank rec, so the starting balance on November 2024 bank rec is correct. I hope this makes sense.
Thank you!
Best answer by Laura03
Hello,
Both Deleting Voiding the Oct. Reconciliation Statement as mentioned above will leave the individual transactions checked ON for Cleared and Reconciled. If you want to remove all checks, there are buttons above the grid that will clear all Reconciled and clear all Cleared.
On the “Very First” Reconciliation Statement for any account, there are a few extra steps that I recommend:
It’s a good idea to run Recalculate Account Balances process prior to the first Reconciliation Statement, to “scoop up” and include in the Reconciliation Statement any transactions that may have been migrated via GL, prior to setting up the Bank Accounts.
It’s helpful to have the last bank reconciliation report from your prior system with you, and perform your first Acumatica reconciliation for the same Date. Enter the UnCleared/Outstanding items from the prior system as a GL Transaction in Acumatica Journal Transactions as a debit and credit to the same cash account. This entry has no impact on GL In Reconciliation Statements, you will see these debits and credits.
You will clear only the debits representing outstanding Checks and only the credits representing outstanding deposits, and this step will leave the correct transactions open on the next Acumatica Reconciliation Statement when you finish the first one(that was already done in the prior system). You will go forward to the next month with the correct Outstanding items ready for Reconciliation Statement #2 in Acumatica.
If the Oct. Reconciliation Statement was not released, just delete it. If the Oct. Reconciliation was released, at the top of Reconciliation screen, click Void.
Then click plus (+) to add a new Reconciliation, and try Oct. again with the correct statement balance.
Both Deleting Voiding the Oct. Reconciliation Statement as mentioned above will leave the individual transactions checked ON for Cleared and Reconciled. If you want to remove all checks, there are buttons above the grid that will clear all Reconciled and clear all Cleared.
On the “Very First” Reconciliation Statement for any account, there are a few extra steps that I recommend:
It’s a good idea to run Recalculate Account Balances process prior to the first Reconciliation Statement, to “scoop up” and include in the Reconciliation Statement any transactions that may have been migrated via GL, prior to setting up the Bank Accounts.
It’s helpful to have the last bank reconciliation report from your prior system with you, and perform your first Acumatica reconciliation for the same Date. Enter the UnCleared/Outstanding items from the prior system as a GL Transaction in Acumatica Journal Transactions as a debit and credit to the same cash account. This entry has no impact on GL In Reconciliation Statements, you will see these debits and credits.
You will clear only the debits representing outstanding Checks and only the credits representing outstanding deposits, and this step will leave the correct transactions open on the next Acumatica Reconciliation Statement when you finish the first one(that was already done in the prior system). You will go forward to the next month with the correct Outstanding items ready for Reconciliation Statement #2 in Acumatica.
Here is an example showing how to Void a prior month Reconciliation Statement:
Today is April 30. Suppose I need to make a change in January, while Feb and March statements have also been completed/released and are correct.
Void March
Void February
Void January.
Add new January statement. Make changes to January. Release January.
Create February, add bank statement balance, release February (the original cleared/reconciled check-marks in the lower half of the screen will still be there, unchanged.)
Create March, add bank statement ending balance, release March.
