Clear a Bank Error
To clear a bank error:
- Open Common Services > Bank Services > Bank Transactions > Reconcile Statements.
- Use the Finder or the navigation buttons for the Bank Code field to display the bank account you are reconciling.
- On the Reconciliation tab, select the payment or deposit that you want to clear.
- Double-click the Cleared
Amount column for the transaction, and then type the amount that cleared
the bank.
The program enters the amount of the error in the Difference column.
- If the bank accepts responsibility
for the error, in the Reconciliation Status column for the transaction,
select the status Cleared With Bank Error.
If the bank does not accept responsibility for the error, change the reconciliation status to Cleared With Write-Off, Cleared With Exchange Rate Difference, or Cleared With Credit Card Charge (depending on which status applies).
- For a deposit that contains more than one
receipt, if the deposit's reconciliation status is Cleared With Bank Error
or if Bank
Services does not automatically write off deposit errors
(that is, the selection for the Deposit Write-Off Method option is None)
:- Click the Details button, or press the F9 key.
- In the Deposit Details form that appears, select the reconciliation status for the receipt that cleared the bank with the wrong amount.
Additional
information
When you clear a transaction with the status Cleared With Bank Error, and then update the Reconciliation Summary, you see that:
- The entire payment or deposit is removed from Withdrawals Outstanding or Deposits Outstanding.
- The amount of the error is added to Deposits Bank Errors or Withdrawal Bank Errors.
When you post the bank reconciliation:
- Transactions cleared with a write-off are removed from the list of outstanding transactions.
- Transactions cleared with bank error status remain outstanding with an amount equal to the difference (or error) for later reconciliation.