Reconciliation for Previous Year Not Closed, Transactions Show in January Statement

Question

Hi 
 In attempting to reconcile January 2019, I've realized that the Reconciliation Report 'START DATE' is December 1, 2018. The only issue is that I already closed off 2018. Now, Reconciliation & Deposits shows Last month end balance, along with last months deposits and withdrawals. Although I've entered January 2019 figures, I can still void/undo them, but at this point I'd like to know how to clear-up December transactions. 
 Your help is appreciated. 
 Thanks

Richard S. Ridings · Accepted Answer

Is Dec your fiscal year end? 
 What does "closed off" mean in your company? 
 If Dec is your fiscal year end, has your company income tax return been completed? 
 Is Dec/18 bank rec balanced? It sounds like it is not so I don't know how you could have closed the period but if it is, just post the Dec/18 bank rec and move to January. 
 Assuming you answer Yes to both the first and third questions above, I would just extend the end date to Jan 31/19 and do a two-month reconciliation, posting any adjusting entries in Jan/19, even if they were originally for Dec/18. 
 The above is based on the fact that I have all the facts, but I think there is still some information missing (eg. what dates are currently showing for Start and End dates, when you indicate you entered January 2019 figures, is this statement figures, or just normal journal entries for January - which you would not want to void/undo or you would have to redo them to reconcile January, etc.).

acctcora · Answer

Sorry for the delay but for some reason this reply came into my Spam folder. The answer is Yes to all. The only reason I did not reconcile Dec 2018 bank statement was in case I had to go back to make corrections. To solve the issue, I reversed all January 2019 entries. I reconciled the statement for Dec 2018 with an end date of January 1, 2019, and started New Year (2019) entries as of January 2. This worked and I was able to reconcile the 2019 bank statement, as of January 31st.

Sage 50 Canada

Reconciliation for Previous Year Not Closed, Transactions Show in January Statement

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