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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Opening balance in ban...
Microsoft Dynamics GP (Archived)

Opening balance in bank reconciliation module

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Posted on by P NOUSHAD 1,821

Hi,

I did not use bank reconciliation module in last 10 years in GP. So many transactions are in bank reconciliation statement for reconciliation.  I want to start from next month onwards this module without updating status of old transactions.  Please let me know how I can do this.  Please find attached screen-shot for your reference.

bank.png

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  • Suggested answer
    L Vail Profile Picture
    L Vail 65,271 on at

    I recommend you clear everything except the truly outstanding items and then make an Adjustment to balance the checkbook. Be sure not to post the adjustment to the general ledger. If you need to increase the balance of the checkbook, enter a Deposit without receipts; deposits do not impact the general ledger.

    Leslie

  • P NOUSHAD Profile Picture
    P NOUSHAD 1,821 on at

    Hi,

    Thanks for your support and help.  Let me know how do clear all previous transactions and start from this month by any utility or backend

    Regards,

    Noushad

  • Suggested answer
    L Vail Profile Picture
    L Vail 65,271 on at

    You'll need to start a Bank Rec. Check all of the boxes EXCEPT your outstanding transactions. Use the Range button to Begin Range, End Range, Mark Range. Go back and uncheck any boxes for outstanding transactions.

    Look at the lower right-hand corner of the Select Bank Transaction entry window and make note of the Difference and which way it's going (too high or too low).

    If you need to increase the balance in the checkbook, make a Deposit Without Receipts. The checkbook balance will increase and no change will be made to the GL.

    If you need to decrease the balance in the checkbook, click the Adjustment button in the Bank Rec window and enter an 'other expense' transaction. Book the adjustment to your cash account so that both sides of the entry go to cash. This way, it won't change your GL balance.

    Kind regards,

    Leslie

  • Suet Lee Profile Picture
    Suet Lee 1,351 on at

    Hi P NOUSHAD,

    Did you managed to go about doing this implementation successfully as per suggested by Leslie?

    Hope to hear from you

    Thank You  

  • Community Member Profile Picture
    Community Member on at

    I tried your solution and now I have difference between the bank rec and the trial balance

  • Rdmatlo Profile Picture
    Rdmatlo 5 on at

    Did you ever get an answer for this?  Mine is too.

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