On reconciling the bank statement there are numerous uncashed/unreconciled cheques dating back to the beginning of 2008. Can you please advise how I remove/adjust these on sage so they do not appear on the bank statement anymore as I am trying to clear off the old unreconciled transactions?
Thank you
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Uncashed cheques
Re: Uncashed cheques
Create a creditors account called "Stale / Unpresented cheques" or similar at around 2103 in the default COA.
Enter a bank receipt for each unpresented cheque and code it to the account you set up. That way, you still keep a liability in your balance sheet (in case the amounts are still owing), but they disappear from the bank rec.
At some point you'll have to establish how to correct the entries definitively - i.e. write them back or send replacement cheques, or you could just leave it for the accountant to sort out at year end...
Enter a bank receipt for each unpresented cheque and code it to the account you set up. That way, you still keep a liability in your balance sheet (in case the amounts are still owing), but they disappear from the bank rec.
At some point you'll have to establish how to correct the entries definitively - i.e. write them back or send replacement cheques, or you could just leave it for the accountant to sort out at year end...
Dave
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brucedenney
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Re: Uncashed cheques
Depends on the problem.
Are they erroneous duplicate entries in sage, part of a mess up with the bank rec being fixed or genuinely outstanding?
Are they erroneous duplicate entries in sage, part of a mess up with the bank rec being fixed or genuinely outstanding?
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