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Finance | Project Operations, Human Resources, ...
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Bank Account reconciliation error - ledger account not specified and bank transaction type is not specified

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We have been doing bank account reconciliations for the past 10 months and this month we are seeing an error for the first time.  I get a warning message Ledger Account not specified and then an error message Bank Transaction type is not specified.  Here are the steps

1.  Cash and Bank Management>Bank Accounts - select the bank account

2.  Under Reconcile select Account Reconciliation

3.  Click new to create the bank statement

4.  Click Transactions

5.  In Show transactions select Not Cleared

6.  Click Reconcile Account.  This is where we get the error message Ledger Account not specified and Bank Transaction type is not specified.  

I have checked the following items

1.  there are no bank transactions like fees or interest

2.  I checked for zero dollar transactions and there are none (this was recommended in another post)

3.  I confirmed that all payment methods are setup with a bank transaction type

4.  We reconciled our other bank account this month without any errors

5.  There has been no changes to our bank account setup since the last time this account was reconciled.

Any suggestions on how I can get past these error messages?

Screen shot of the errors

pastedimage1622733829942v1.png

I have the same question (0)
  • Martine Cezanne Profile Picture
    47 on at
    RE: Bank Account reconciliation error - ledger account not specified and bank transaction type is not specified

    Bonjour

    Nous avons eu ce soucis également et cela venait d'écritures "Créer" dans le journal de rapprochement avec des montants a zéro... On les a supprimé et il n'y a plus eu de message.

  • Suggested answer
    Gaurangkumar Jani Profile Picture
    4,512 User Group Leader on at
    RE: Bank Account reconciliation error - ledger account not specified and bank transaction type is not specified

    Hi Mikeev,

    This error is only possible if you have added any transaction and haven't provided bank Transaction Type and Ledger Account on the transaction.

    Please check the following screenshot.

    pastedimage1622909491703v1.png

    Thanks,

  • Suggested answer
    Sheela Ningappa Profile Picture
    on at
    RE: Bank Account reconciliation error - ledger account not specified and bank transaction type is not specified

    Hi,

    Please check if you have use bank tarnasction types on your transactions;

    make sure that bank transaction type you assigned to the BANKACCOUNTTRANS has a ledger account offset on it.

    Please note that the error message for Bank transaction type is getting populated when "Enable update to bank transaction types for advanced bank reconciliation” feature is enabled.

    I hope the above help.

    Regards,

    Sheela

  • Ignacio Lopez Coll Profile Picture
    95 on at
    RE: Bank Account reconciliation error - ledger account not specified and bank transaction type is not specified

    It is indeed an interesting question. Unfortunately, I don't have an answer for you, but if I would be in your situation I would try this.

    1. Analyze all the main accounts that are somehow configured for the bank module
      1. Bank transaction types
      2. Foreign currency revaluation accounts (Bank Module has this since not long ago)
    2. Check if these accounts are included in the account structures
    3. Check if these accounts have the proper posting type definition in the main account (if applicable)

    If that doesn't work out:

    1. Try the same reconciliation for another bank account
      1. You mentioned it worked recently, but you never know what changed from that point of date until today
    2. Try to create/import the bank statement through another route
      1. Path: CB > Bank statement reconciliation > Bank Statements

    Good luck and keep us posted

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