I’ve just gone back and done a full bank reconciliation of my bank from the start of last financial year, and i got it to balance, but I hadn’t noticed that there is now a massive journal which has put transactions into my bank account with the date I did the bank reconciliation, thereby completely duplicating all of the entries that were already there and knocking my bank balance out.
I’m a bit confused. Isn’t the bank reconciliation just ticking things off as having been checked against the bank statement? I had already entered all of the transactions and just wanted to square the balance by ticking off what was done, entering the odd transaction that wasn’t there, and having it balance. It looks like by ticking the ‘reconcile’ button, I’ve asked it to process all of the transactions again.
I’m a 28-yr career book-keeper in a previous life, so this is really either a ‘learning how this new software works’ issue for me, or a bug. I’m guessing it’s a learning thing. What should I have done instead? Did I click something I shouldn’t have? Can I just delete this massive (two page) journal with that date and have my bank go back to normal?
Once I’ve got this square, I intend to lock off previous periods, so that this can’t happen again, but need to fix this first.
Cheers for any input.
I’m not sure exactly what you’ve done but nothing within the bank reconciliation tool would create new transactions. All this tool does is allow you to enter the open and close balance for a period and compare this with the entries in the bank account on QuickFile.
It’s a bit of a mystery then. Are you able to go into my account and see what I’ve done? It’s actually the accounts of my part time job - email@example.com
I had a quick look but I didn’t notice any duplicate transactions in the bank. How much is your balance out by? Can you trace at which point the balance goes out?
There are a whole load of transactions dated 5th August that posted by journal. If you look at the journal from the tagged button, the top line starts with REC with a whole load of other characters after it, that I definitely DID NOT post, and below, you can see the transactions that shouldn’t be there.
The journal total is £4956.73
The last reconciled balance on that account is 1241.53, which you’ll see on page two of the bank, about 11 transactions from the top of the screen. I will have entered a few transactions after that line, then there is all of the 5/8/14 transactions which are a mystery
Let me look into this for you.
Thanks. If you look on the JOURNALS screen, the top one, with 112 items, has the reference REC_cf8d2c1e-ef6d-4edb-80f6-7a3fd3f752d3 which is definitely computer generated (I’m far too lazy to come up with something that complicated as a reference!!)
I really appreciate your help with this Glenn, and I’m STUNNED at how quickly you responded! Fantastic service!
More than happy to help, you also caught me at the right time
I’ve removed the journal that was interfering with your balance. I can see it was created on the 6th August automatically based on a recurring schedule, it seems that recurring schedule was picking up all kinds of random transactions you’d previously entered. I can see how this happened but it was no fault of yours and I’ve completely removed that recurring journal now.
Take a look at the account now and let me know if that looks ok?
Thanks, yes, that looks much more realistic (shame the bank balance dropped by £4k though lol… if only that were still there for reals!!)
I did try to set up a recurring journal for the loan repayments and interest to split between bank/loan account/credit charges expense account. I have previously posted these journals manually each month, but was trying to set up so that it would post automatically on the 6th of the month. Did I do something that picked up all those other transactions instead, or was it a blip? Will I be able to set up the recurring journal for the loan now?
Thanks again for your speedy response, and yay for right place, right time!
As far as I can tell it was a blip, I’ve never seen this before but I did notify an engineer to see if this could be looked at.
If you look at the repayment journal dated 6th of July I have attached a schedule to this for you. Now on the 6th of September it will automatically create.
Due to the previous journal for 6th August that went bad, you’d need to enter this one manually.
This topic was automatically closed after 7 days. New replies are no longer allowed.