How to: Handle Erroneous Bank Statement Transactions

It may occur that a bank statement contains transactions that are erroneous. If your bank statement has an erroneous transaction, you will not be able to apply it to a ledger entry. A difference will remain in the Difference field and you will not be able to post the bank reconciliation.

To handle erroneous bank statement transactions

1. In the Search box, enter Bank Reconciliation, and then choose the related link.

2. Open the relevant bank account reconciliation.

3. In the Bank Statement Lines pane, select the line that contains the erroneous transaction.

4. In the Type field, select Difference. When you do so, a message may appear that asks if you want to delete the application.

5. Choose Yes to clear the Applied field on the ledger entry. The Total Difference field still shows an amount. However, as long as this amount is equal to the sum of all bank statement transactions on lines where the Type field contains Difference, the bank reconciliation can be posted.

Important

An error may be corrected by the bank on the next bank statement whereby the bank records a corrective transaction instead of reversing the erroneous transaction and then recording the correct transaction. In this situation, you must manually enter the erroneous transaction with Type = Difference and the correct transaction with Type = Bank Account Ledger Entry in order to be able to apply it to the ledger entry.

See Also

Tasks

How to: Fill In Bank Reconciliations
How to: Post Bank Reconciliations
How to: Post Open Transactions Reflected in a Bank Statement