Rather than answer this specific question, let me provide the general solution.
There are three cash balances, which will all equal if the books are in balance:
ACTUAL Balance
GL Balance
Subsidiary Ledger Balance (here it is Bank Rec/Cash Management module, since we are entering payable correcting transactions as increase/decrease adjustments)
IF ACTUAL <> GL and GL = SUBS
Enter the correcting entry in SUBS (subsidiary module), so it will create a GL entry.
IF ACTUAL = GL and GL <> SUBS
Enter the correcting entry in SUBS only, but do not post the generated GL AJE.
IF ACTUAL = SUBS and GL <> SUBS
Enter the correcting entry as a GL adjusting entry ONLY.
IF ACTUAL <> GL and ACTUAL <> SUBS and GL <> SUBS
Step 1: Enter the correcting entry in either the GL or SUBS (subsidiary) to balance to ACTUAL.
Step 2: Then make the next correcting entry using the logic above.
How do you Enter the correcting entry in SUBS only, but not post the generated GL AJE?
Method 1.: Under posting setup for the transaction type, uncheck POST THROUGH GL, and delete the generated GL AJE.
Method 2: Under posting setup for the transaction type, uncheck POST TO GL, but be sure nobody else is posting, and that you check the box when you are done.
For bank transactions, Increase and Decrease adjustments show up in cash balances immediately.
Remember that CASH RECEIPTS transactions only show up in the cash balances after you print the deposit slips.
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Bruce Strom
Programmer Analyst
Superior Lighting, Inc.
Sunrise FL
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Original Message:
Sent: Dec 02, 2019 11:27 AM
From: Gerald Buenafe
Subject: accidentally created a JE in closed year 2018 -
Hi Tammy,
Out of curiosity, what GL accounts were used with the original bank transaction (i.e. the un-voided version)?
As per the attached Bank Transaction Posting Journal - the same GL account (1006) was debited and credited. This JE has a zero net effect on GL account 1006, which might be the reason why this JE appeared in the 'Unmatched Transactions' section of the Reconcile to GL report.
At any rate, an additional control to prevent posting would be to mark off the periods as closed via the Fiscal Period Setup window (i.e. mark the check boxes corresponding to the series / period that shouldn't be posted to anymore).
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Gerald Buenafe
Owner/Consultant
BTP Technologies LLC
CHANTILLY VA
Original Message:
Sent: Dec 02, 2019 10:18 AM
From: Tammy Bies
Subject: accidentally created a JE in closed year 2018 -
Hello everyone,
All of a sudden my bank reconciliation report was off $11,277.36 from my GP total. (attached - Bank Account to GPUG)
I ran a transaction reconciliation (attached JE 49346 - $11,277.36) and found this transaction JE#49346. I do not remember doing this posting but records of my JE indicate I posted 9-2018 instead of 8-2019.
I looked and posting to history is selected on this company in GP, UGH.
Outstanding Transaction Report indicated this transaction (FMLB Outstanding Trx Report)
CHK 0000000000000013046 9-7-2018 Medline Industries debit trx $11,277.36 instead of check transaction typically ($11,277.36)
This check was voided in system on 9-7-18(18 Medline Historical Void check) reissued so not sure what this transaction is and why posted opposite as a check would be.
I have only been with this company since 12-2018 to transactions before that were previous accountant.
Anyways when JE 49346 posted it created a CMTRX and also a BBF transaction in December (FIRSTMID Trx 16 092018)
I need to adjust my bank reconciliation to included the missing $11,277.36 back in 2018 for my account to balance in 2019.
I have attached the (backup filed) - I hope someone can help me.
Tammy
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Tammy Bies
Surgical Management Professionals
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