Withdrawal Reconciliation Statuses

A check that was printed to test the alignment of forms in the printer, or left blank because it was a leading check form (a check that is past your printer head when you start printing). This type of check is automatically cleared when the bank reconciliation is posted.

You assign this status to a withdrawal or a transfer from the bank that appears on the bank statement exactly as issued.

The total amount of cleared withdrawals appears on the Totals tab of the Reconciliation screen.

You assign this status to a payment or withdrawal that cleared the bank with an amount different from its issued amount, if the error is greater than the spread specified in the bank record.

When you post the reconciliation, the error is carried forward as an outstanding transaction for the next reconciliation.

The Totals tab of the Reconcile Statements screen shows the total amount of withdrawal bank errors for the current reconciliation.

On the Reconciliation Status report, a withdrawal bank error appears:

• In the withdrawals section, if it will reduce the bank balance when it is corrected. Such errors include:

  • Payments and withdrawals that cleared the bank with an amount less than the actual amount.
  • Deposits that cleared the bank with an amount greater than the actual amount.
• In the deposits section, if it will increase the bank balance when it is corrected. Such errors include withdrawals that cleared the bank with an amount greater than the actual amount.

This status is available only if:

• The bank account is multicurrency.
• The bank's statement currency is the same as the functional currency.

You can assign this status to a payment made in a currency other than the statement currency.

You can assign this status to a deposit if at least one of its receipts is in a currency other than the statement currency.

The Totals tab of the Reconcile Statements screen shows separate totals for deposits and withdrawals cleared with an exchange rate difference.

You assign this reconciliation status to withdrawals that clear the bank for amounts different from their issued amounts, where the difference is less than the error spread specified in the bank record.

The Totals tab of the Reconcile statements screen shows the total amount of withdrawals cleared with a write-off.

A check that was printed with an advice that carried over onto a new check form. This type of check is automatically cleared when the bank reconciliation is posted.

A payroll check that has been paid by direct deposit through electronic transfer of funds.

This type of check can be cleared in the same way as an outstanding check.

This status applies to withdrawals that you entered using the Bank Entry screen, but which you have not yet posted.

An outstanding check is one that has not yet been paid by the bank.

All posted checks (other than alignment checks, continuation checks, or incorrect or damaged checks that the subledger voided during posting), as well as transfers and transfer charges, initially appear with a status of Outstanding.

Printed status is assigned to payments that have been entered in Accounts Payable, but are not yet posted to the bank.

At setup, payments have Printed status until you post the setup reconciliation.

When you post a payment, or the setup reconciliation, the status changes to Outstanding.

A payment that has been reversed because it was returned by the bank or vendor, or for another reason such as a stop payment on a lost check. When you change a payment status to Reversed, then post the item, the subledger reinstates the associated original documents (for example, invoices and credit notes) to their amounts prior to the payment being issued.