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Microsoft Dynamics GP (Archived)

Voided uncleared check - now Bank rec out.

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Posted on by Rita Wong 400

Hi,

The bank rec was completed at the end of Oct, however, it came to our attention that one of the checks didn't clear so we had to reissue it.  A stop payment was done at the bank so in GP, we voided the check via the Void Historical trx module.

But now - our bank rec is out by the same amount and of course this has affected the Financial statements.  Is there a way of printing another bank rec for the period so that this voided check is reflected on it?

 Thanks so much for your responses!

Rita

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  • Rita Wong Profile Picture
    Rita Wong 400 on at
    Re: Re: Voided uncleared check - now Bank rec out.

    Thanks so much William!  This is very helpful.  I'll correct it as you've suggested - what a lot of work! 

  • Hossam Fathy Profile Picture
    Hossam Fathy 2,597 on at
    Re: Voided uncleared check - now Bank rec out.

     HI Rita,

    Yes

    go again to reconcile bank statment and select your checkbook and enter the bank statment ending balance and date and then press transactions you will find the vioded transaction mark it.

     

    Hope this what you want.

  • William Calloway Profile Picture
    William Calloway 125 on at
    Re: Voided uncleared check - now Bank rec out.

    Hi Rita,

    I have had to void and reissue checks numerous times and found that the best way around these issues is to adjust the void date to reflect the current day you are voiding it and NOT the original date the check was issued. For some reason GP looks to void a check on the same date of issue, however, this will result in the problem you have come across. Further to this, if you are using multiple currencies, you will end up receiving foreign exchange gains and losses due to the different rates of exchange on the void date and original issue date.

    If you choose the uncleared check to void, notice that the date section contains the original date of issue. Change this to the current day, then process the void. Process your reissue and voila, you have a net transaction of 0.00 for these two transactions in the current period. An added benefit is that your historical financial statements have not changed, nor have your banking modules.

    As far as correcting your old bank rec, GP will look for transactions to process in order to RE-process a bank rec. so you will have to recreate the check on the original date, void it on the current date (net 0.00 transaction) and finally reprocess the bank rec from the original date leaving the voided check uncleared until processing the current periods bank rec. (Rationale is that it was not known to be a void until the current date) When doing the bank rec for the current period, you will no longer have an open check since the void has a current period date and is excludable from the bank rec with the original date.

    Hope this helps

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