Hi,

Can you confirm if there is any way to restrict the periods for posting in Bank Rec, the same way we do it in GL using
Edit, Fiscal Calendar?

The problem we are having is created when we are reversing cheques, because the prior periods Bank Reconciliation balances change constantly. We have tried both options "Reversed (check date)" and "Reversed (login date)" and the same problem persists.

How can we keep the Bank Reconciliation balances unchanged for prior periods?

Thank you.
Florina Nisioiu

There is no "Bank reconciliation" balance, so you'll need to help out here.

There is a Bank Statement Balance, which is the number you take off your bank statement and reconcile to. When a reconciliation is posted, the bank statement balance is recorded and cannot be changed.

There is a Bank Balance, which is the previous bank statement balance plus all the outstanding items.

Reversing a cheque marks it as reconciled (no longer outstanding), so your bank balance changes by the amount of the reversed item. The "As at" date controls the date of the transactions sent to the GL.

Which number are you worrying about changing?

Hi Andrew,

To clarify: by "Bank Reconciliation balance" we meant the Reports, Bank Reconciliation report balance.

What we are saying here is anytime a cheque is reversed should only affect the period we are currently work on, and not prior periods which are already closed.

This is a scenario happening May 2013 period:
- we balanced our May/13 GL balance to the Bank Reconciliation report balance;
- afterwards we had a Jan 2013 cheque reversed, which changed the May 2013 Bank Rec report balance for that amount.

I guess we wanted to see our closed periods Bank Reconciliation balances unchanged. Please confirm the way Adagio BankRec works.

Thank you for your assistance.
Florina

Hi Florina,

Did you reverse the cheque as at the cheque date or your session date?

Andrew/Florina:

If I understand Florina’s question, you want to restrict the Bank Rec to allow posting only to current fiscal periods.
If you use set Ledger Fiscal Calendar each month/period and mark the periods you want as Open and Closed, then you can tell Bank Rec to obey these rules as well.

In Bank Rec, go to the Company Profile and on the Interfaces tab, there is an option: "Validate closed periods". This can be set to "Allow", "Warn Only" or "Disallow". Select "Disallow" and users should only be able to post to open periods.

Hi Andrew: we tried both, Reversed (check date) and Reversed (login date) and the same problem persisted.

Florina

Great suggestion Samuel, I will explore it and let you know if will work for us.

Florina

Hi Florina,

OK, here's the thing.

If you reverse a cheque written in January, "as at" the date of the cheque, then you DO want the "Bank Reconciliation Balance" to change, since otherwise it won't tie back to the general ledger bank account.

If you reverse it "as at" the session date, then it disappears off the outstanding list for the current month (since it's reconciled and these items are not inspected for the generation of your outstanding list). However, it will reappear once the current month is reconciled if you do a back dated report.