Clearing a Bank Error

When you clear a transaction with the status Cleared With Bank Error, and then update the Reconciliation Summary:

• The entire payment or deposit is removed from Withdrawals Outstanding or Deposits Outstanding.
• The amount of the error is added to Deposits Bank Errors or Withdrawal Bank Errors.

When you post the bank reconciliation:

• Transactions cleared with a write-off are removed from the list of outstanding transactions.
• Transactions cleared with bank error status remain outstanding with an amount equal to the difference (or error) for later reconciliation.

To clear a bank error:

1. Open Common Services > Bank Services > Bank Transactions > Reconcile Statements.

2. In the Bank Code field on the Summary tab, specify the bank account you are reconciling.

3. On the Reconciliation tab:

   1. On the table, select the payment or deposit that you want to clear.
   2. In the Cleared Amount field, enter the amount that cleared the bank, and then press Tab.

      The amount of the error is displayed in the Difference field.

   3. In the Reconciliation Status field, specify a reconciliation status:

      • If the bank accepts responsibility for the error, specify Cleared With Bank Error as the status.
      • If the bank does not accept responsibility for the error, change the reconciliation status to Cleared With Write-Off, Cleared With Exchange Rate Difference, or Cleared With Credit Card Charge (depending on which status applies).