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Hello -
I'm new to Dynamics GP and new to this company.
They have an inactive checkbook account (old bank) and an active checkbook account (new bank) tied to the same GL account.
I suspect this is a problem... as most of what I've read says that the GL cash account should only be linked to one checkbook ID. But, I'm not sure I understand the magnitude of the problem.
To date, they have been reconciling the GL account to the bank statement outside of GP.... no reconciliation has ever been done in GP.
Do I even worry 'bout reconciling this old, inactive checkbook to a zero balance?
If you're looking for a partner for as-needed things, I am happy to help out. My contact information is linked below.
Thanks.
Joe
1. You can stop GL posting by going to Tools | Setup |Posting | Posting | Financial | and select 'Bank Transaction Entry', and unmark the 'post through to GL files' option. Save.
2. Then go to Transactions | Financials |Bank transactions, and you can key in Checks or Adjustments. Post.
3. Then go to Transactions | Financials | Batches, and select your batch (CMTRX prefix) and print an edit list of it to make sure it's the right batch, then click DELETE to remove the batch so it doesn't post to GL.
4. When you are done, be sure to go back to step 1 and turn on posting again.
Please remember, if you need step by step instructions for processes it would be best to reach out to your Microsoft Partner for training or assistance. Thank you in advance.
Cheryl W.
Microsoft Support
The steps are in this KB article:
support.microsoft.com/.../how-to-start-using-an-existing-checkbook-to-reconcile-in-bank-reconcil
OK. So, I've identified a handful of uncleared checks in the inactive checkbook account.
I think what I want to do is enter them into the active checkbook account... without impacting the ledger account.
I'm not sure how to do that.
To answer your questions:
1. What should I choose in Step 4d ? I assume clear unused receipts....but, I'm not sure.
>>If you don't need to post a deposit for any of the cash receipts listed, and simply want to clear them off the window without updating the GL cash account or the checkbook balance, then yes, simply use the 'Clear Unused Receipts' option. It does exactly what it says. It 'clears' any receipts off that window that will not be used.
2. In Step 6 - I'm certain I would mark all.
>>You would mark all the transactions that you want 'out of your way', and leave any transactions unmarked that should be 'carried' at the point in time, so they show up again on the bank reconciliation window next month.
3. Question - to be clear - do any of these actions in steps 4 or 6 affect the GL account?
No, we wouldn't have you hit GL on a 'dummy bank reconciliation'. The only thing that will hit GL is the 'adjustment' you key within the Bank reconciliation in step 8, so we have you turn off posting to GL in step 7 before keying that and then key your adjustment in step 8 and print your reports in step 9. When you click the RECONCILE button in step 10, that will 'complete' or post the bank reconciliation and that is when the adjustment would normally hit GL,but since you turned GL posting off in step 7, it will not post to GL. After completing or finalizing the bank reconciliation in step 10, then we have you turn GL posting back on again in step 11, so you are ready for real bank reconciliation next time. All the steps to follow are in the KB article.
Please make sure to have a backup first or do this in a TEST Company first, so you can see how it works.
Cheryl
Microsoft Dynamics GP Support
Thank you!
Based on the link you provided.
I ran the Undeposited Receipt report. There are some.
What should I choose in Step 4d ?
I assume clear unused receipts....but, I'm not sure.
And briefly - why that choice?
In Step 6 - I'm certain I would mark all.
Question - to be clear - do any of these actions in steps 4 or 6 affect the GL account?
Thanks again.
David
Hello,
Typically you would only have 1 checkbook ID linked to one Bank Account, or your bank reconciliations in GP would be complicated, but since you are not reconciling in GP and you have one checkbook ID inactive, I think it would be fine to leave 'as is' since it is inactive and cannot be used.
Do you worry about reconciling it to a zero balance? If you are not using it and don't need it, then I don't see a point to 'reconcile' it in GP. However, it may confuse users to see a balance on it if it is inactive. Again, up to you, but if you want to clear out the balance on that old inactive checkbook to $0.00, you can update this in SQL in the CM00100 table, or you can activate it back, and go into Bank Rec and key a positive or negative 'DEPOSIT' against this checkbook ID (deposits do not hit GL) and post that to clear out the balance, and then inactivate the checkbook ID again. Totally up to you if you want it to display a zero balance or not.
If you ever want to start reconciling in GP, here is the KB article on how to do a 'dummy' reconciliation that you can run parallel to your reconciliation outside of GP. It has you do a one-time 'adjustment' within the 'Select Bank Transactions' window to get the checkbook ID balance up to date so you can start Reconciling in GP. (Again, it's up to you if you want to use the Bank Rec feature in GP or not, or run it parallel to your other reconciliation method, if you wish to switch over to using GP, as it has an Electronic reconcile feature, where you can import in your bank statement and have the system do the matching for you for checks and deposits, which is handy if you have a high volume of transactions each month.
support.microsoft.com/.../how-to-start-using-an-existing-checkbook-to-reconcile-in-bank-reconcil
I hope this information helps.
Cheryl W
Microsoft Support
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