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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Old checks
Microsoft Dynamics GP (Archived)

Old checks

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Posted on by AZKate 30

Hello, I'm relatively new  to GP, so I'm sorry if this question sounds novice.  Gotta start somewhere! Anyways, when going to do the bank reconciliation, I see that there are un-cleared checks in there from as far back as 2008.  Is there a way we can clear those, and other checks that we know won't clear, without screwing up anything?  TIA!

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  • Suggested answer
    Victoria Yudin Profile Picture
    Victoria Yudin 22,769 on at

    There are a few ways to handle this:

    1. Void the payments in Payables (assuming these are payables checks). Make sure to use a current void date, you don't want to have these create 2008 transactions! This would make the payables invoices now open, so you would need to clean that up. You can either void these as well, again using current void dates, or create a credit memo to apply to them to clear them out. If you void the invoices, you will reverse the GL distributions they originally had and you may need to make GL adjustments to those. If you create a credit memo, you can determine what GL account to use. 
    2. Enter a bank increase adjustment for the checks you want to clear. For example, let's say there are 5 checks for a total of $3,000. You can enter one bank increase adjustment for $3,000. The debit will be cash, you will need to decide what account to use for the credit. Once posted, on your next bank reconciliation you can select the 5 checks you want to clear and your $3,000 adjustment and they will net out to a zero difference.

  • Jinak1 Profile Picture
    Jinak1 10 on at

    Is #1 the best method to use so that it leaves some kind of trail to research? I'm just wondering if I do #2 (which is the easiest for me) and the vendor comes back to say that he wasn't paid, would it be hard for me to research this? I mean on my end it would show as cleared.

    If I do #1 can I leave a note someplace that I'm writing off these old checks that weren't cashed? I'm reversing it to the same accounts so I can just void them and not do credit memos like you suggested.

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