8 Replies Latest reply on Nov 27, 2014 1:54 PM by Elements

    Bank Reconciliations -

    Elements

      When creating Bank Reconciliations, we have to be able to look backwards at previous months to see which checks written were not paid and which deposits were not deposited for a specific month (those that were paid and deposited are not a problem because once paid it's over).

       

      The problem is that a check written in December might not be paid in January and February etc. Legally checks are good for 6 months but might be cleared even later.

       

      If I clear the check in February, when I look back at my filtered portal for the January Bank Rec the check which was uncleared when I created the Bank Rec in January will no longer be visible in the uncleared portal because I am using a simple flag field to filter.

       

      I'm thinking of creating an Uncleared Staus field to be populated with the UUID of the Bank Rec once I press CONFIRM for any completed Bank Rec.

       

      Any better ideas?

        • 1. Re: Bank Reconciliations -
          wimdecorte

          I've read this a few times now, and I really don't follow.

           

          Why not just show all uncleared checks?  Are you only showing last month's only?

          • 2. Re: Bank Reconciliations -
            jimfeuerstein

            Like Wim, I'm not clear what you're trying to do, but I think it may be this:

             

            When you go back to a prior month's rec, are you trying to 'recreate' the list of cleared and uncleared checks as it stood at the time of that reconciliation? That is, you want to display a check that was uncleared in that month, even though it was subsequently cleared in a later month?

             

            If that's the case, how about recording on the check record the period in which that check was cleared, so you can determine within any specific rec which checks were still uncleared during that period?

             

            - Jim

            • 3. Re: Bank Reconciliations -
              ibrahim_bittar

              The idea of a flag field is OK, as long as the check won't add to the balance until is cleared and it will add to the balance on the date it was cleared.

               

              I mean, if you issue a check en January but is cleared in February, then the January balance won't be affected by this check but the February balance will do. You'll have to have two dates: the issuing date and the clearing date.

               

              For accounting purposes you'll use the issuing date and for balance control you'd use the clearing date.

               

              Hope I explained it the right way .

              1 of 1 people found this helpful
              • 4. Re: Bank Reconciliations -
                Elements

                not a bad idea. So when we look back to January we will ask to show all checks written before February 1 whch are not cleared and all checks written before February 1 which are currently cleared but which were not cleared on any Bank Rec through and including that of December previous, will appear in the Uncleared Check Portal?

                • 5. Re: Bank Reconciliations -
                  Elements

                  see Jim's answer, those are the records I'm looking to deal with

                  • 6. Re: Bank Reconciliations -
                    Elements

                    it will actually not be the date cleared but the bank rec for which cleared

                    • 8. Re: Bank Reconciliations -
                      Elements

                      so actually I don't have to add any fields because I'm adding the UUID of the Bank Rec into the Banking Record when I mark the check cleared and the Bank Rec has a Period field in it. So I could probably do a search based on those parameters?

                       

                      Show in Uncleared Check Portal all transactions which (a) are not cleared and (b) all transactions which have a BankRec UUID for Bank Recs later than the BankRec before the Current Record (BankRec)?