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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Bank Reconciliation Pr...
Microsoft Dynamics GP (Archived)

Bank Reconciliation Problem - Help!

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Posted on by tentwistle 235

Hello!  I am new to GP but have already made what seems to be a big mistake.  Until recently, the bank account was reconcilied in Excel.  However, we now want to use GP.  As such, I am going back through 2008 to reconcile accounts in GP using the Excel reconciliations.  Unfortuntely, I didn't realize one of the Excel reconciliations had the wrong bank balances.  After entering in the wrong bank balance, there were obviously differences between the adjusted bank balance and adjusted book balance.  As all the transactions were correct, I simply made an adjustment for the difference and reconciled the account.  BIG MISTAKE!  I didn't realize the problems this would cause.  Is there any way to "undo" the reconciliation and start over? 

If anyone could help I would appreciate it so much!

Thank you.

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    Community Member on at

    I am not quite sure what the big problem is - the resolution to this issue would be to ensure tht your adjustment affects only the checkbook.

    What you should do is to enter the difference through Bank Transactions, either as an increase or Decrease adjustment, and make sure that you debit and credit the same default bank account. In the Reconcile Bank window, mark off the ite as reconciled. This will not affect your GL, but will adjust the checkbook adjusted balance.

    If you are not quite comfortable, do it in the training company first, to satisfy yourself, that you have done the correct adjustment.

    Good Luck!

    Deesom.

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