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We just switch from using Cash mgr to Bank rec. We closed our period to begin Dec but need to bank rec Nov but the program will only allow us to bank rec for Dec. We need to be able to go back one period to bank rec the previous month on some of our account while also being able to bank rec some accounts in the current month.
Spoke with a SL advisor we use and they didn't think you could do past and current months in the bank rec module--Why not?
I seems to me to that most companies can not finish the bank rec' for the previous period before the first of the current month.
Hello RdCorbin,
I talked with a Bank rec specialist, here is his explanation:
When they setup bank reconciliation, they should have set it up in the period they want to ‘start using’ bank reconciliation. They cannot add bank reconciliations for prior periods. Example: If you want to create period 10-2019 as your first bank reconciliation, then you would need to setup bank reconciliation in period 10-2019. You cannot setup bank reconciliation in period 11-2019 and then enter a bank reconciliation for period 10-2019.
If they are just starting bank reconciliation, they can delete data from the BR tables, including BRSetup, and then just start over. Go into BR Setup, and enter the period number that they want to use for their first bank reconciliation.
The customer wrote “It seems to me that most companies cannot finish the bank rec for the previous period before the first of the current month”.
For that reason, they can close GL ahead of the BR module. If GL is in period 11-2019 as an example, BR can still be in period 09-2019 or 06-2019. BR is the only module that is not required to be closed prior to GL being closed. But you still cannot enter a bank reconciliation for a prior period. If GL is in period 11-2019, there is no problem with BR being in period 10-2019 or period 09-2019, but if it is already in period 11-2019, then you can’t go back and add a period 10-2019 bank reconciliation.
Best Regards,
Jana MacDonald
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