Reversing a bank reconciliation

Owned by Van Ho (Deactivated)
Last updated: Sept 02, 2021 by Diane Partridge


You can only reverse the most recent bank reconciliation for each bank account if the bank reconciliation has a status of Posted
You cannot reverse all prior bank reconciliations for the same bank account.


Procedure

  1. Log onto Readysell>Financials>Bank reconciliations
  2. Highlight the most recent bank reconciliation for that particular bank account that you feel needs to be reversed.
  3. Click on Reverse
  4. The system will prompt you with a date. You can leave it as is or insert the statement closing date that was on the original bankrec.
  5. The system will create a new bank reconciliation in reversal.
    That means that all the transactions that were marked on the original bank reconciliation will now be unmarked.
  6. You can now extract a bank reconciliation for the same bank account but maybe for another date range or whatever the issue was that you needed to reverse the bank reconciliation.