Bank Reconciliation Variances

[annie51ks]

Okay, I've read a bunch of posts on bank reconciliation and didn't find this issue addressed. PT Knowledge Center (at least what I have researched) doesn't address this issue, either.

Using Peach Tree Complete Accounting 2003 SR-1 on WIN XPPro Machine.

At year end I made several adjustments to checks that had previously been reconciled and cleared. Specifically what I did was void checks, reverse vendor invoices, re-issue invoices under correct vendor, and re-issue checks, then post "payment" for the credits and re-issued checks. All transactions are for the original cleared amounts and on the original dates. My vendor subledger and GL are correct. My bank recs are now showing "Unreconciled Differences" on the months involving the changes I made. I know what the transactions are. What I DON'T KNOW is how to get rid of the unreconciled differences. They have accumulated from month to month. It looks like I need to re-reconcile those months to clear the re-issued transactions, but of course, PT doesn't allow a second recon in any one month.

Does anyone know what I can do to fix this?

[lustbergcpa]

I don't know if I am totally following you. If a check was cleared in a previous month, why would it be reissued? Usually a voided check would be one that hasn't cleard the bank.

If you do void or change a previously cleared transaction, it will cause your bank rec to be out of balance. A previous amount you included as a credit to cash is missing.

If the check was paid on an invoice, voiding it will put the paid amount back into accounts payable. When you reissue a check you will check off those same invoices.

If you did replace all of the voided checks with replacement checks for the same amount on the same date, you will need to go back to that month and check off the new checks. Peachtree will allow you to go back to prior months to check off an amount that shows up as uncleared for that month. However, it will have an effect on the subsequent months reconciliation.

[annie51ks]

Thanks for the quick reply!

These were dummy transactions only-nothing went out the door. Because of the way my vendors are coded for reporting purposes, I needed to get the transactions in the right place in order for them to appear in the proper fashion on year end reports.

I'll try the prior month check-off on those correcting entries and see what happens in the two subsequent months I have to reconcile.

[annie51ks]

I've checked off the re-issued items and my bank reconciliations now balance, including the 2 months that were not reconciled. No unreconciled differences! I've worked with PT for nearly 10 years and was unaware you could go back and check off items on a previous reconciliation. Guess the occasion never came up.

Thanks for a quick solve.