Change a reconciled transaction

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  • Updated 12 months ago
Last December I made an error in entering a transaction which has the correct amount but its entry is wrong. Share dividends are entered under my share section in the investment area then transferred to my bank account. This particular entry was not entered that way but was entered in my bank account as 'interest earned' and reconciled. I would like to change it but don't know how. Could somebody please help?. I am using Reckon Accounts Personal Plus 2016.
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Daniel

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Posted 12 months ago

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Diver Dave

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Daniel, it doesn't matter that the item has been Reconciled.  Just delete the incorrect entry, then enter the dividend the way you want.  After that you need to reconcile again, but that's no big deal. 
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VikingOz

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I think you'll get a warning message that you are changing a reconciled transaction, but just accept it and proceed.
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Daniel

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Thank you both. I have deleted the entry and placed the correct one but how do I reconcile again?
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Diver Dave

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Just do a normal Reconcile - enter the final balance of your statement, and the only un-reconciled entry will be the dividend, so click it and you're done.
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Daniel

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Thanks Oliver, it worked a treat. I must say I expected the whole change would have been a lot harder.
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VikingOz

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Just a comment on reconciliations. Many people don't bother, but over the many years of using Reckon (previously) Quicken, I've identified over $2k of bank errors.
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VikingOz

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Interesting, can you still do an annual comparison report, say, of balance sheets, to see how you are performing?
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VikingOz

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Also, when Reckon bring out a new version requiring the datafile updated to a new format, which has happened. Do you need to reformat all your old files so they can be read. Hope you get my drift Dave.
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Diver Dave

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Thanks.  It is a trade off between a single massive file and separate annual ones, Lief.  And, as you point out, when they change format it's necessary to open and save each annual file - bit tedious, but no big deal, really.

I track my SMSF performance over time in Excel, when I keep a record of total and each members balance, monthly and annually with value, contributions, withdrawals, return and IRR etc.

It's more comprehensive than Reckon's reports.
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VikingOz

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Good old reliable Excel. Being an Engineer by profession means I use it all the time for analysis and what-ifs. Thanks for the chat Dave, always nice to hear how others are using Reckon Accounts.
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Diver Dave

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Also an Engineer!  One thing I didn't mention regarding Reconciling, Lief, is that I use it in Reckon to see what forecast costs and income hasn't been received - very easy to scan the Register and identify an anticipated transaction that hasn't occurred.

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