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  #1  
Old 09-17-2004, 12:45 PM
LinkyH LinkyH is offline
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Undeposited Funds

I have a balance in my undepoisted funds account that looks like it stemmed from a deleted deposit. My bank account is reconciled OK amd my customers show invoices paid.
Any suggestions on a JE to zero out the undeposited funds account?

Thanks,

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  #2  
Old 09-17-2004, 12:51 PM
Joey Joey is offline
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That usually happens if you Received Payments on a customer's account and then used Make Deposits and listed the same payment there on the deposit slip. Look back on your deposits around that date and see if you see it listed there on one of the deposits. If so, Edit that deposit and change the account on that check to Undeposited Funds instead of whatever account it was originally posted to.
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  #3  
Old 09-17-2004, 01:32 PM
LinkyH LinkyH is offline
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In the bank account I no longer see the deposit...???
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Old 09-17-2004, 01:36 PM
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I don't mean the one you said was deleted. I mean look at the other deposits around that date and see if that customer's payment amount shows up on another deposit also that is still in the register.
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Old 09-17-2004, 01:43 PM
LinkyH LinkyH is offline
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I don't see it anywhere?
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Old 09-17-2004, 01:47 PM
Joey Joey is offline
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What makes it seem like it came from a deleted deposit? Look at your beginning balance on the reconcile screen. Has it changed?
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Old 09-17-2004, 01:51 PM
LinkyH LinkyH is offline
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I believe it has..my beginning reconciling balance the next month is a negative amount...I had a positive cash balance at 3.31.2004.
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Old 09-17-2004, 01:54 PM
Joey Joey is offline
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Well then you just need to reenter the deposit again. When you said that the balance hadn't changed, that threw everybody off.
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Old 09-17-2004, 01:56 PM
LinkyH LinkyH is offline
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Won't that throw off my bank reconciliation?
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  #10  
Old 09-17-2004, 02:03 PM
Joey Joey is offline
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If that beginning balance has changed, you're already thrown off your bank reconciliation. This will fix it.
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Old 09-17-2004, 02:10 PM
LinkyH LinkyH is offline
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Somehow as of 8.31.2004 my bank rec is fine....these transactions happened in Mar/Apr when my predecessor was here? and now the CPA wants to know why there is a balance in undeposited funds?
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  #12  
Old 09-17-2004, 02:13 PM
Joey Joey is offline
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But you just said your beginning balance on the reconcilement screen had changed to a minus amount???
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Old 09-17-2004, 02:38 PM
LinkyH LinkyH is offline
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I think so..I am looking for the rec.
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  #14  
Old 09-17-2004, 02:55 PM
LinkyH LinkyH is offline
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Now I see that somehow a j/e was created that dr. the bank account and cr. Opening balance equity.
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  #15  
Old 09-17-2004, 02:58 PM
Joey Joey is offline
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That's what happens when you click the Done, Reconcile Now button when there is a difference showing at the bottom. The program makes a journal entry to "force balance" your account. You need to delete that entry and re-reconcile the account correctly.
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