CNA L&P - Bank Reconciliation: Check cashed early

In ConnectNow Accounting (CNA), how do I fix a check that was cashed early?

If the check is cashed during the period the bank rec covers, it won't affect your reconciliation.

It the check date in CNA and the date cleared by the bank are in different months, you wont be able to reconcile the bank statement until you fix this problem.

  For example:

  • You wrote a check in CNA - the check is dated 12/1 for $100
  • The check was actually cashed 11/30 for $100
  • The 11/30 bank statement shows a withdrawal for the $100 check.
  • The 11/30 CNA bank rec does not show a withdrawal for $100

 

There are two methods you could use to correct the problem:

  1. Create a Reversing Journal Entry
  2. Change the date of the check

 

1. Create a reversing Journal Entry (JE):

11/30 JE:

*Debit (Choose an account)   $100

    Credit  Bank acct                          $100

 

12/1 Reversing JE

Debit Bank acct                     $100

    *Credit                                          $100

      *(the same account you used for the debit in the 11/30 JE)

  

 

2. Change the date of the check

 

 

 

 

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