In Bankrec if you reverse a deposit does it send a batch or information to accounts receivable? Or does it just debit the Bankrec clearing account and credit the bank account.

I am trying to determine the best way to clear improper deposits from bankrec. Deposits were posted for amounts to post against A/R accounts, but should have included amounts for salesperson shortages or expense money not deposited.

Working thru first experience with Bankrec.

Thanks,
David

Hi David,

If you reverse deposits using BankRec's NSF function, then the entries will be backed out of the bank, and information will be sent from BankRec to Receivables to reverse the cash and reinstate the invoices it was applied to. BankRec will also credit the bank with any NSF fees set up with the bank account in BankRec and create a charge for the customer. If you are just correcting erroneous entries, then you'll want to make sure that these amounts are $0.00 before proceeding.

(Sorry for the delayed response, it's Thanksgiving up here north of the 49th!)

Enjoy your Holiday!!

Actually I was in the sample data changing the 'Status' to 'Reversed' on a deposit. This on the deposit total before drilling down to individual deposit entries where one could do the 'NSF'. This appeared to only post to the Clearing Account and Bank. Did not seem to create A/R entries.

I am attempting to clear some deposits from Bank Rec without effecting A/R, then posting a deposit with adjusted amounts against the clearing account and other accounts.

David