Core Financial Modules

[rob01]

Hello

We had an intern working on our bank recs last year and we recently realized that 2 months were reconciled with incorrect bank balances. Is there a way to undo the reconciliation from that point and start over?

[TomTarget]

If the cleared items were purged - no.

If cleared items were NOT purged,  yes.   It will be something of a pain unclearing all the items but it can be done.

[rob01]

yes, items were purged. Is there an adjustment to the following month that we can do to correct and move forward?

[TomTarget]

You can always plug and move forward.   Hopefully it's not a huge amount.   If it's small,  just plug it and move on.   If it's big amount you'll want to spend a little time figuring out exactly what the error is.

Exactly how you fix it really depends on exactly what the error is that you are trying to correct..  Is the g/l wrong?  Is the bank rec wrong?   Are they both wrong?  Do the G/L and Bank Rec not agree with each other (they should - but there are ways to get them out of sync).  What specifically is the problem transaction?   Can't really give you any specific recommendations not knowing the exact situation.  Correcting these things are 90% researching exactly what is wrong and 10% actually correcting it. 

[rob01]

The bank rec is wrong and the GL is fine. I'm not sure of all the details but it seems the ending balance that they entered for that month does not match the bank statement.

[TomTarget]

Ouch.  From that it sounds like they couldn't reconcile and fudged the balance per bank to get into balance.   Then purged the cleared transactions.  

About all you can do at this point is post an item into bank rec (check, deposit and adjustment entry)  to get you resynced and move on.  Theirs probably some item still on the outstanding items list that is the culprit and it you will eventually spot it.

Once again,  hopefully it's not big $'s.

Playing the devil's advocate now.  How do you know for sure the g/l is accurate?

[rob01]

Yeah I know. I don't think it was deliberate it looks like the balance entry was off due to a transposed number and Ironically with all our even number receipts its could easily happen if you are not paying attention to details. I will consider your suggestion and move on as it seems like the most logical way to go. Yes, I do believe our GL is correct. Thanks for all your help.