Bank Reconciliation

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  • Updated 3 years ago
I'm struggling to understand the Reckon One approach to Bank Reconciliation and wonder if there is/are some setting(s) I'm unaware of. As far as I'm concerned, the bank feed data should be sacrosanct - if it comes in through the bank feed, then I need to deal with it, in its entirety. Instead, it seems that I can easily change the total of the bank items or even delete them.

So, to my questions:

* When allocating a line from the bank feed, there is a check-box that says "Use transaction total" (which effectively allows a user to change the total of the line from the feed). This option appears to be checked by default. If I had my way, it would not exist at all, but failing that, is there any way it can be defaulted to unchecked?

* It is quite easy to simply delete items from the bank feed and my office staff have managed to do this accidentally on a few occasions. Is there any way to turn this off? That is, make it impossible (or at least difficult) to delete a line from the bank feed?

Thanks,

Marc H
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Marc H

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Posted 3 years ago

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Fizzer

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Bank feed data is just that, data. What you do with it is reliant on your rules. For instance, a certain name in the depositor can be set as a donation or a payment for service, the comment can be a customer ID or service type etc. how that is allocated to amount is also part of the rules. For instance some can have GST, some have P/H etc. .. I consider the Bank Statement to be sacrosanct. If you set your import rules correctly then all the Bank data will just enter as is. Perhaps another user has better options.
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Marc H

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Thanks Fizzer. My concern isn't about how the bank feed data is allocated. We have rules in place that currently handle maybe 80% of our entries and we're building rules to cover more. Some will always need to be manually allocated  - e.g. we regularly have single deposits that need to be split across more than one GL account, or more than one receivable amount.

My concern is the fact that items from the bank feed  can be altered or deleted. If the bank feed says $100 was deposited in my account, I need to be able to allocate $100 to (presumably) an income account or receivable - that's fine and makes sense. But Reckon also allows me to adjust it from $100 to, say, $50, or even delete it entirely so it appears it was never there at all (both of which mistakes my office staff have made). Sure the bank account won't reconcile, but that means I've got to go looking for the mistake that was made - identify the adjusted or deleted item by poring over bank statements.

If bank feeds represent truth - i.e. they hold the transactions that support my bank balance -  then they should always be allocated somewhere within my ledger - it shouldn't  be easy (or maybe not even possible) to change or delete them.

What I'm hoping for is a way of locking my users out of changing or deleting bank feed amounts, or else at least making it difficult to do so. Right now it just seems to be routinely available and easily done in error.
(Edited)