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Bank Reconciliation - Incorrect data at implementation

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Posted on by ematheson419

We went live with GP in July 2015, we have just recently decided to use the bank rec feature in GP instead of on a spreadsheet. After many hours of research I can confirm that our beginning balances have been incorrect from day one. My question is, where do we go from here? I've read a few suggestions, including create another checkbook entry and map it to our current cash account and update the vendors/employees/customers to be mapped to the newly created checkbook.

Can anyone provide some input or suggest a support team?

Thank you!!!

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ematheson419 on at

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RE: Bank Reconciliation - Incorrect data at implementation

Thank you!!!
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Mariano Gomez 26,225 on at

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RE: Bank Reconciliation - Incorrect data at implementation

There are few ways you can go about this:

1) Assuming you don't want to have to deal with reconciling a whole bunch of documents that you never looked at to begin with, outside of the spreadsheet you currently have, you can do a blind reconciliation, this is, you mark off all documents as of the last date you completed on the spreadsheet, where and adjust to your last reconciled balance. You can adjust to your cash account to create an in/out to the same account. The assumption here is your cash account reflects the correct balance as of today, so you don't want to affect that balance.

2) Go nuclear and remove all records from the CM20200 for records with a GL Posting Date under your last bank reconciliation date. You will also need to remove the documents in the CM20100 table and CM20201 (deposits) as presumably you don't need these if you have reconciled them.

In any case, this is doable. I have used both methods in the past, and perhaps, even a combination of both.

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