I have a check issue to one of our vendors, unknown to us the check was intercepted by someone and altered. The following week the check was presented to the bank, it showed up on our bank detail report and the check number and amount matched so the team reconciled it. The next day the bank advised us there was an issue with this check, which is when we found out the payee information had been altered. As a result, we rejected the check and had the bank return it, but the bank recon was completed. I have tried finding information on how to correct in GP, but I am not able to locate anything how to correct an item that had already cleared.
Appreciate your help, any thoughts on how to correct?
There is a way to undo an entire bank reconciliation using SQL. There are a few articles out there on this. If you go this route, I noticed the articles do not mention adjustments made during the bank reconciliation and I normally have to adjust the bank balance for those when all is said and done.
For Payables checks, you can't void them once they've been reconciled. You can enter an increase adjustment in bank to offset the cleared check and just reference it. You'd then have to enter another invoice to pay the vendor. I would offset the GL accounts on those two transactions (bank increase adjustment and AP invoice).
Stefanie
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