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Reconciliation Negative Deposits

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Posted on by Jackie L 30

We are experiencing vendor payments made through a Payment Journal appearing as a negative deposit when reconciling. I’m trying to pin-point why this might be occurring. We typically process vendor payments through QuickPay, but when we are paying multiple invoices with one payment, we use the Payment Journal. In the Payment Journal we do not use the balancing account since we are paying multiple invoices.

Edit to include - It appears that transfers between bank accounts have a similar issue. The withdrawal also appears as a negative deposit. These are processed through the cash receipts journal.

Any thoughts?

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  • Jackie L Profile Picture
    Jackie L 30 on at
    RE: Reconciliation Negative Deposits

    We enter a balancing line, just as you have in batch the screenshot.

    So we do not print checks from the system. We are processing these payments via ACH, however BC is not connected to our banking platform. We select “manual check” when processing them through Vendor Quick Pay.

    I think this may be where the issue is arising. The team has not been selecting anything in the “Bank Payment Type” field. I’m having them test it with this month’s reconciliation process to see if selecting “Manual Check” resolves this.  

    The response we got from our consultants was that this is how the system does reconciliations but I'm very doubtful that this is the case.

  • Suggested answer
    Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Reconciliation Negative Deposits

    Jackie,

    Adding to this thread... So you create a Payment Journal that will pay Vendor documents (i.e. Invoices) and on the Payment Journal the Document Type = Payment. You pay these via Electronic or Check. You enter the Balancing line or BC, when it cuts the Check?  

    pastedimage1641230728710v1.png  pastedimage1641230745375v2.png

    Please email back what you do and maybe an example.

    Thanks,
    Steve

  • Jackie L Profile Picture
    Jackie L 30 on at
    RE: Reconciliation Negative Deposits

    No, the purchase invoice is closed.

    One the reconciliation report the payment reflects under the deposit section but is negative.

    Thanks!

  • Inge M. Bruvik Profile Picture
    Inge M. Bruvik 32,722 Super User on at
    RE: Reconciliation Negative Deposits

    So there are no open amount on the entries?

    How do you define "negative deposit" maybe it is getting lost in translation for me.

  • Jackie L Profile Picture
    Jackie L 30 on at
    RE: Reconciliation Negative Deposits

    Yes, the payments are being applied.

    I’ll edit the post to include this – but it appears that transfers between bank accounts have a similar issue. The withdrawal also appears as a negative deposit. These are processed through the cash receipts journal.

  • Suggested answer
    Inge M. Bruvik Profile Picture
    Inge M. Bruvik 32,722 Super User on at
    RE: Reconciliation Negative Deposits

    Do you remember to apply the payments when you post them through the journal?

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