Hi, We entered a bank transfer entry between our current account and a ‘merchant account acct’ (bulk offset). We incorrectly deleted the entry on the merchant account screen which in turn has deleted the bank entry on the current account?? How do we reinstate the bank entry? It seems ‘unsafe’ to me that you can delete a ‘real’ bank entry? How does this action affect the actual bank balance to ensure you stay reconciled against the ‘real world’???
Thanks Sarah
You can re-enter the transaction manually
How? And where is the nostro control???
Got to your main bank account and click on input transaction
Okay thanks, I am still concerned about keeping control on the bank statement and how deleting and inputting entries will obviously affect the balance.??
In reference to this, i do not understand how or where the reconciliation of the running bank balance total is performed?
You may find our knowledgebase guide on 'Bank Reconciliation’ helpful in explaining.
No I have obviously lookd through the knowledgebase and am unable to find anything that explains the ‘controls’ around the actual bank statement and how Quickfile manages the differences between the journalled entries and the real balance?
Any explanation would be gratefully received!! Thanks Sarah
Recording receipt or payments through journals is not good idea, it wont update the individual ledgers for customers and suppliers. Some software dont allow journal entry to any control a/c.
Quickfile is flexible in this but best practise is to log receipt and payment through invoices or through bank tagging