Accounting error but has caused an issue with how to fix in Reckon. Audit has said just fix it in 2018 but how. The entries show on my bank reconciliation as uncleared transactions. I need them to be reallocated to an expense account. But how do I get them out of the bank rec'. Guidance please.
So are you saying that there are cheques/payments sitting as uncleared in your bank rec and you need to reverse them out? if so, go into the uncleared entries and note the details - account allocated to, tax code used, original date, payee etc. Now create a Journal entry - which will be dated in this financial year - the first line will be for the bank account and be a debit entry - put in details about the original date of the cheque and the payee etc - then the 2nd line (and others if applicable) will be credit entries to the same account you found in the original entries - use the same tax code etc and put in details of what you are doing in the memo. Once these are entered and saved - go to your Bank Rec screen and you will then be able to tick both the uncleared original payment and the journal entry you just created - and this will clear them from the Bank Rec. Hopefully I have understood your issue? cheers Linda
Linda, sorry I just started to realise that I may not have been clear. The entries are caused by two journals (I know they should not have been done to the bank). By creating this new journal I am going to impact my bank balance........which will cause another reconcilation issue won't it?