Need Help with Reconciliation Mistake

[Mark Phillips]

Worked like a charm. Thanks!!

Mark


On Thu, Apr 3, 2014 at 8:02 AM, Maf. King <maf at chilwell.net> wrote:

> On Thu 3 April 14 07:41:56 Mark Phillips wrote:
> > I have been making weekly electronic payments of $820 out of my checking
> > account and I made a reconciliation mistake and I don't know how to fix
> it.
> > I successfully reconcile the account each month. I just reconciled the
> > March statement and found this error.The transactions:
> >
> > 1/26 $820 Did not reconcile in January...must have picked another one in
> > early Feb by mistake when reconciling the account in Feb.
> >
> > 2/24 $820 reconciled this one, but actually the bank had cancelled the
> > transaction because there were two scheduled for the same day, which was
> > correct, but the bank does not allow that.
> >
> > 3/3 $820 ck# 4427 - replaced the canceled electronic payment cancelled by
> > the bank. This one is also reconciled.
> >
> > I seem to have missed adding a transaction to remove the canceled $820 on
> > 2/24 as well.
> >
> > So, I would like to end up in this state, but I am not sure how to get
> > there....
> >
> > 1. Add transaction dated 3/3 to reverse the 2/24 cancelled transaction.
> > Reconcile this transaction.
> > 2. Reconcile the transaction on 1/26.
> >
> > That should preserve the "paper trail" for all the transactions, and the
> > balance should be the same. But how do I do this? Adding the transaction
> in
> > #1 is not a problem, but I am not sure how to mark the transactions in #1
> > and #2 as reconciled.
> >
>
> Hi,
>
> So, if I understand you, the account balance is correct and reconciled, but
> the transactions are wrong in that you've got to reverse a reconciled txn
> and
> then reconcile the one you missed in from january.
>
> I suggest you do the reversing transaction, then reconcile to the most
> recent
> statement again - watch the opening date and balance though... and
> reconcile
> the 2 new transactions.  If I'm right, magic will happen....
>
> HTH,
> Maf.
>
>
>
> > Two other wrinkles....I no longer make these payments, so I can't catch
> up
> > next month. Also, This account is for a trust that I manage, and one of
> the
> > beneficiaries threatens lawsuits on a regular basis, so I can't just
> delete
> > the 1/26 transaction...I have to preserve the paper trail throughout the
> > account.
> >
> > Thanks,
> >
> > Mark
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> --
> Maf. King
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