One way would be to post the invoices as Pay Later and then go into payment module to pay the invoices.

That would eliminate the adjustments showing up on bank rec since it is only on the invoices and not on the payment.  However one has to be careful that the net amount of the invoice does not change - otherwise this will affect the payment since it is linked to that invoice and amount.

Are you sure? 90 percent of our invoices are pay later, and we still get it.

Oh - so you are saying that the adjustments are made with the payments themselves - and not with the invoices that are 'Invoice with Payments'?

Try this below and see what ou come up with - it is for invoices but could same method could also be for payments.

Pull up those journal entries that affect one adjustment that you are noticing in bank recs - there should be the original invoice, then an Rev of J??? (should be the original JE nbr), and the next JE that is the correction. Verify that this is a 'Pay Later' invoice and not a 'Invoice with Payment'.

Then compare the 'corrected' against the 'original'. Both should net out to exact amount - meaning the invoice total including taxes should be the same. If not then this will affect the payment.

Compare the date to see if the same and if not the same then check the payment date to see if earlier than invoice date (which makes the payment as Pmt on Acct since the invoice was not around at that date).

Also when these adjustments are made why not have those that makes it also go into the bank rec and clear out the adjustments they just made?

In most cases the original and reversal (if in same period) can be cleared against each other since it would be in the transaction nbr order.

If corrections are made for entries that were already reconciled in previously reconciled bank rec then it would the the reversal and the corrections that can be cleared out against each other.

I am unfamiliar with the 'asterick' portion. I do know this can appear in A/R (or A/P) Aged Trial Balance if - for example - a payment dated Dec15/13 was applied against an invoice dated Jan10/14. When you pull up an Aged Trial at the Dec31/13 date there will be an asterick against that payment because the invoice is not showing on the Aged Detail since it has a Jan/14 date.

*********Try this below and see what ou come up with - it is for invoices but could same method could also be for payments.

Pull up those journal entries that affect one adjustment that you are noticing in bank recs - there should be the original invoice, then an Rev of J??? (should be the original JE nbr), and the next JE that is the correction. Verify that this is a 'Pay Later' invoice and not a 'Invoice with Payment'.

Then compare the 'corrected' against the 'original'. Both should net out to exact amount - meaning the invoice total including taxes should be the same. If not then this will affect the payment.

Compare the date to see if the same and if not the same then check the payment date to see if earlier than invoice date (which makes the payment as Pmt on Acct since the invoice was not around at that date).*****

Thanks for your suggestions smithco, but been there done that.    We sometimes get both sides, sometimes only one side in the Bank Rec module.  We also do go through and compare on the Account Reconciliation with Outstanding Transaction Detail Report, but when you are dealing with 8 pages of that, it is too much, and wastes too much time

********In most cases the original and reversal (if in same period) can be cleared against each other since it would be in the transaction nbr order.

If corrections are made for entries that were already reconciled in previously reconciled bank rec then it would the the reversal and the corrections that can be cleared out against each other.********  

Again smithco - both sides aren't always there.

The Asterisks appear in the Account Reconciliation with outstanding Transaction Detail Report, and they appear beside every transaction that had been adjusted after the bank rec for that date period had been done

**********One way would be to post the invoices as Pay Later and then go into payment module to pay the invoices.

That would eliminate the adjustments showing up on bank rec since it is only on the invoices and not on the payment.*********

The transactions run the gambit of being a paylater invoice, a payment made on a paylater invoice in the payment window,  and a invoice pd by chq at the posting time in the invoice window.  

.  

EMaude, are you changing the date from one reconciled month, to a different month

ie original pmt Dec 28 and reconciled with Dec bank statement

then you change the date of the entry from Dec 28 to Jan 5 ?

if so, the 'rev of J' will be dated Dec 28 and the new JE will be dated Jan 5

so when you look at the Dec bank rec ending Dec 31st, you would only see one-half the adjustment - the other half is on the Jan bank rec

Only occasionally.  Most of the time it is a job number, or a phrase in the description of an invoice, the hst included amount, or the chart of account one of the lines in the invoice is going to, ie gas instead of purchases.

in the bank rec session, there is a 'do not show corrections' checkbox

if checked it could be hiding the other half of your correction entry

when a transaction is modified, two JE's are created

 a reversal of the original JE  - status of reversed on bank rec

 a new JE to record the change - status of adjustment - comment like Rev of J146 Corr is J148

normally in the bank rec session, both of these transactions are checked as cleared and checking the checkbox 'do not show..' hides them, making it easier to work with the bank stmt

but I've seen a few things,

  one of the JE's has a status of outstanding (instead of reversed/adjustment) and it's not cleared

  the status of the two JEs is correct, but one of the transaction is not marked as cleared

so unchecking the checkbox, allows me to scan and confirm that all matching reversed/adjustment entries are cleared

also if I find an entry with the wrong status, I can clear the transaction (maybe temporarily), then double click on its status to change the status - allows me to change 'outstanding' to 'reversed' or 'adjustment'

  - changing the status to reversed/adjustment will not hide it if the box is checked, but does provide

    a visual clue that this entry will not be on the bank stmt

so if you're changing a payment, but not the date field, both the reversed and adjustment entries should appear on your next bank rec - and if not automatically cleared, you should be able to clear them

One comment you made was that one does occasionally change the date of the payment from one month to another. If that payment was cleared and the bank stmt for that month reconciled then yes you will have a problem with the bank rec if one changes date to a later month. I'm not sure why one would do that since if the cheque cleared thru Dec then why change date to Jan? That is likely why you have all those astericks showing.

Also I always leave the box unticked for 'Do not show corrections'. It does seem some users do not have a problem with adjusting entries not showing both original and reversal as reversed/adjusted but I quite often find that in my case only one side gets cleared.

Another suggestion is when starting the bank rec - leave the ending balance as nil. The unresolved amount will be the same as the starting balance - as you work your way thru the bank stmt one by one the unresolved amount will change and be the same as the bank stmt balance for that date. If you have a lot of transactions going thru daily then save it after reconciling to one of the daily balance on bank stmt.

If you are doing bank rec weekly then when you have reconciled for the week you make a notation in the Comment box what the unresolved amount is and save it.

Then the next time you open it up verify the unresolved amount against your comment - if it 's not the same then you know someone has adjusted something that was dated within that week or prior to the last week. Likely only one side of adjustment was cleared and you need to clear the other side. Keep doing this until your unresolved balances again with your comment. Then continue with reconciling the next week and enter new comment when you have reconciled and save it.

***in the bank rec session, there is a 'do not show corrections' checkbox***  

Thought of that - and it was unticked.

******so if you're changing a payment, but not the date field, both the reversed and adjustment entries should appear on your next bank rec - and if not automatically cleared, you should be able to clear them****

That is what I thought too, but it isn't.    I have been able to handle the entries in the Bank Rec module so far.  Like I said at the first, if I remember when I do my next rec, I just click the one sided entries marked adj, and the bank rec balances.  ( Just wanted to know why it only put one side)

The thing I am really trying to clear up is the Account Reconciliation with outstanding Transaction Detail Report.  We are required to print it off each time we do a bank rec.  When there is really only 4 outstanding entries, but there are 8 pages of deposits and withdrawals, because the asterisk is beside them, it is frustrating.  

I'm stumped, it doesn't make sense

When you go into your Reports to Banking to Account Reconciliation Transaction Report do you have 'Resolved' box as unticked and only 'Outstanding' as ticked?

It seems the only way I can get the 'asterick' transactions you mentioned is if I have Resolved ticked but rest of boxes under that is not ticked except for Adjustment and Reversal - those 2 are ticked.

If so then untick the 'Resolved' box and just have the 'Outstanding' box as tick and try pulling up the outstanding report to see what shows..

We only rec once a month, when the bank statement comes in.

The date is changed because the manager wants it be changed, ie Oct 31 instead of Nov 01, Also we had one girl who started that was used to posting day month year, we post month day year, it was discovered in Dec, and they decided to correct everything, even though many things had been cleared in the bank rec.

One of the adjustments that really started this question was;  statement started on 4th, deposit was on 1st.  Of course it was not cleared on previous statement ( Nov), it was outstanding,  then the next statement (Dec) was rec'd.  Then manager wanted the deposit corrected to proper date.  This transaction is only showing one side on the current rec ( Jan)

I like your suggestion about leaving the ending balance blank.

Thanks - let me know if just having the 'Outstanding' box ticked in the Outstanding Transaction report option helps.

I don't see a box called "outstanding" in the Account Reconciliation with Outstanding Transaction Detail report.  I see it in the Reconciliation Transactions Detail report, but we have to run the 1st report to show Statement end balance, and statement start and end dates, etc.  

If you record your daily cash and cheques received, to a separate 'Cash On Hand' account, then set up and use the Sage 50 Bank Deposits to record and print your bank deposits,  (you record the bank deposits as coming from the 'Cash On Hand' account, and going into the bank account:)

- you don't have to write up deposits.

- When reconciling, you won't be matching up a number of cash receipts that add up to one bank statement amount.

- There will be few adjustments, because adjustments to paid sales invoices don't create bank account entries, and no-one can adjust a bank deposit.

If you do that, when you use the Sage 50 Deposits, you print and save, but don't post yet! Triple-check the addition or wait 'till you're back from the bank, and when you post you can note the journal entry number on the deposit.

I feel your pain on the DD MM vs MM DD issue.   To resolve it permanently, I strongly recommend that under

Setup | Settings | Company | Date Format,

 - set your date format to MMM dd, yyyy,  

 - Set your screen and reports to use Long Dates.  

We used to have invoices from June through September blended into one big mess, now we only have the odd typo.

If you record your daily cash and cheques received, to a separate 'Cash On Hand' account, then set up and use the Sage 50 Bank Deposits to record and print your bank deposits,  (you record the bank deposits as coming from the 'Cash On Hand' account, and going into the bank account:)

- you don't have to write up deposits.

- When reconciling, you won't be matching up a number of cash receipts that add up to one bank statement amount.

- There will be few adjustments, because adjustments to paid sales invoices don't create bank account entries, and no-one can adjust a bank deposit.

If you do that, when you use the Sage 50 Deposits, you print and save, but don't post yet! Triple-check the addition or wait 'till you're back from the bank, and when you post you can note the journal entry number on the deposit.

I feel your pain on the DD MM vs MM DD issue.   To resolve it permanently, I strongly recommend that under

Setup | Settings | Company | Date Format,

 - set your date format to MMM dd, yyyy,  

 - Set your screen and reports to use Long Dates.  

We used to have invoices from June through September blended into one big mess, now we only have the odd typo.

We do use the bank deposit module, as 2 of our banks accept the print out.  Most of our trouble is with accounts payable.  

We have always had the default setting as m d y in settings, but she didn't pay attention.   Never thought about ticking the long dates, that's a good idea.

Smithco - I must not be explaining myself correctly.   Yes I can print out the Account Reconciliation Transaction Detail Report and get a list of only outstanding transactions,  But our company HAS to print out the Account Reconciliation Summary Report with Outstanding Transactions .  Doing the Account Reconciliation Transaction Detail Report does not affect the Account Reconciliation Summary Report with Outstanding Transactions .  I still have the 8 pages printing,  All I have now is another report that spells out what not to ignore on the 8 page report.  I am trying to make sure there are no asterisks on the Account Reconciliation Summary Report with Outstanding Transactions, so that 8 page report shrinks to 1 page.

ok I see - the astericked transactions on the specific report you are using includes transactions that were entered after the reconciliation - so that will always show up when using the report you always use because of the beginning date you use. There is another way to do your bank reconciliation report and eliminate the asterick transactions.

If you were to print the Summary just for the month you just reconciled you will see a section on there called 'Outstanding Transactions as of Nov 30, 2013 and under that will show the 'Outstanding Deposits' with amount and 'Outstanding Withdrawals' with amount.

Then print off the Account Reconciliation Transaction Detail Report for the earliest date that you can enter and ending date of Nov30/13. The total for the Deposits column and the total for the Withdrawals columns will be exactly the same as on your summary report for outstanding transactions as of Nov30/13 section and there will be no astericked transactions showing.

Those 2 reports are printed off right after the bank reconciliation has been posted and are kept together with the bank statement.

Hopefully your manager will accept that and save you a lot of frustration and extra work.

Thanks.  I'll have to take the last one and see if it works.  Thank you everyone for all the help,  I've learned a couple of things that will help day to day also.

I should mentioned that when printing off the Account Reconciliation Transaction Detail Report it does have to be printed right after posting the bank reconciliation. If you try to print it at a later date after you have already started the next month's bank reconciliation then it will not show outstanding transactions that have been cleared thru bank rec after Nov30/13 even tho you have used - for example - Nov30/13 date, therefore will not match up to your Summary report of outstanding deposits/withdrawals.

Just one of those quirks Sage 50 has.