Bank Reconciliation

Just ran into a situation where we accidentally added a deposit item with a date in the future. Whether or not that should be a feature (I’d love that kind of cash planning!), we have a posting in a future period. Support has indicated that once you post, you’re toast, which I understand. My plan of action: BPM to prevent any deposit item to have a date after the statement date to prevent such behavior in the future (maybe file an SCR as well unless there’s a business case for that scenario) and then two GL posting to reverse the future posting and to add the amount back into the current period.

Any other thoughts are appreciated.

Mark W.

This most likely can be prevented by controlling the latest date you can apply financial transactions in AR and AP. This is most often used to make sure transactions are not posted into the next period until Accounting is sure all current period transactions are accounted for.

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Hi Ruth,

I’m leaning toward having a BPM that prevents “future deposits” and call it good.

In the mean time, I have a portion of the deposit recorded in one fiscal year and a portion in the next. The AP Aging shows the invoices as open in the current period even though they were paid (As Of Date used, not status). So we need to clean up the GL AND the AP Aging (sub-ledger). :frowning:

Mark W.

Sorry @Ruth_Manelis_Siegfri, not to discount your post, using Latest Date is good idea too!

Mark W.